0 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10476060 2022-12-01 2023-11-30 10476060 2023-11-30 10476060 2022-11-30 10476060 2021-12-01 2022-11-30 10476060 2022-11-30 10476060 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 10476060 core:PlantMachinery 2022-12-01 2023-11-30 10476060 bus:Director1 2022-12-01 2023-11-30 10476060 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 10476060 core:PlantMachinery 2022-11-30 10476060 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 10476060 core:PlantMachinery 2023-11-30 10476060 core:WithinOneYear 2023-11-30 10476060 core:WithinOneYear 2022-11-30 10476060 core:AfterOneYear 2023-11-30 10476060 core:AfterOneYear 2022-11-30 10476060 core:ShareCapital 2023-11-30 10476060 core:ShareCapital 2022-11-30 10476060 core:RetainedEarningsAccumulatedLosses 2023-11-30 10476060 core:RetainedEarningsAccumulatedLosses 2022-11-30 10476060 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 10476060 core:PlantMachinery 2022-11-30 10476060 bus:SmallEntities 2022-12-01 2023-11-30 10476060 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 10476060 bus:FullAccounts 2022-12-01 2023-11-30 10476060 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10476060 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 10476060
NANT HIR HYDRO SCHEME LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
NANT HIR HYDRO SCHEME LTD
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
67,912
74,047
Current assets
Debtors
5
8,149
6,873
Cash at bank and in hand
5,922
5,204
--------
--------
14,071
12,077
Creditors: amounts falling due within one year
6
75,357
81,338
--------
--------
Net current liabilities
61,286
69,261
--------
--------
Total assets less current liabilities
6,626
4,786
Creditors: amounts falling due after more than one year
7
1,209
2,663
Provisions
5,606
3,561
-------
-------
Net liabilities
( 189)
( 1,438)
-------
-------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 1,189)
( 2,438)
-------
-------
Shareholders deficit
( 189)
( 1,438)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NANT HIR HYDRO SCHEME LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 12 March 2024 , and are signed on behalf of the board by:
Mr J M Hardy
Director
Company registration number: 10476060
NANT HIR HYDRO SCHEME LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clogwyn y Gwin, Rhyd Ddu, Caernarfon, Gwynedd, LL54 7YS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have reviewed a period of 12 months from the date of approval of these financial statements and have confirmed their willingness to retain their loan in the company to enable it to meet all its liabilities as they fall due. As a result it is appropriate to prepare the accounts on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for energy generated, net of discounts and of Value Added Tax. Revenue is recognised when the value can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
18,000
109,696
127,696
--------
---------
---------
Depreciation
At 1 December 2022
2,160
51,489
53,649
Charge for the year
315
5,820
6,135
--------
---------
---------
At 30 November 2023
2,475
57,309
59,784
--------
---------
---------
Carrying amount
At 30 November 2023
15,525
52,387
67,912
--------
---------
---------
At 30 November 2022
15,840
58,207
74,047
--------
---------
---------
5. Debtors
2023
2022
£
£
Trade debtors
8,041
6,849
Other debtors
108
24
-------
-------
8,149
6,873
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
648
1,065
Trade creditors
3,791
2,653
Other creditors - Loan interest
5,270
488
Other creditors
65,648
77,132
--------
--------
75,357
81,338
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,209
2,663
-------
-------
8. Directors' advances, credits and guarantees
There were no director's advances, credits or guarantees during the year.