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REGISTERED NUMBER: SC434246 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Fetterangus Power Limited

Fetterangus Power Limited (Registered number: SC434246)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fetterangus Power Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: N A Burnett
C Strachan





REGISTERED OFFICE: Fetterangus Hall
Ferguson Street
Fetterangus
Peterhead
Aberdeenshire
AB42 4HD





REGISTERED NUMBER: SC434246 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Fetterangus Power Limited (Registered number: SC434246)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 575,336 632,021

CURRENT ASSETS
Debtors 5 331,850 287,043
Cash at bank 411,333 274,503
743,183 561,546
CREDITORS
Amounts falling due within one year 6 151,999 93,819
NET CURRENT ASSETS 591,184 467,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,166,520

1,099,748

CREDITORS
Amounts falling due after more than one
year

7

(513,410

)

(600,535

)

PROVISIONS FOR LIABILITIES (116,394 ) (93,874 )
NET ASSETS 536,716 405,339

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 536,715 405,338
SHAREHOLDERS' FUNDS 536,716 405,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fetterangus Power Limited (Registered number: SC434246)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





N A Burnett - Director


Fetterangus Power Limited (Registered number: SC434246)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Fetterangus Power Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for goods and services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Wind Turbine - 5% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Fetterangus Power Limited (Registered number: SC434246)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Wind
Turbine
£   
COST
At 1 November 2022
and 31 October 2023 1,133,704
DEPRECIATION
At 1 November 2022 501,683
Charge for year 56,685
At 31 October 2023 558,368
NET BOOK VALUE
At 31 October 2023 575,336
At 31 October 2022 632,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 331,850 287,043

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 87,097 87,068
Taxation and social security 63,189 4,371
Other creditors 1,713 2,380
151,999 93,819

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 513,410 600,535

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 93,647 180,754

Fetterangus Power Limited (Registered number: SC434246)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 600,507 687,603

Bank borrowings are secured by way of a Bond & Floating Charge over the assets of the company.

9. RELATED PARTY DISCLOSURES

Included in Other Debtors is a sum of £255,583 (2021 - £255,583) due by Fetterangus Community Association in respect of previous costs paid on behalf of the association and loans made in previous years. Whilst the balance is considered short term, there are no specific terms of repayment and no interest is accrued. Donations totalling £29,500 were made by the company to Fetterangus Community Association during the year.

10. ULTIMATE CONTROLLING PARTY

Fetterangus Community Association owns 100% of the issued share capital.