Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true2022-11-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC395947 2022-11-01 2023-10-31 SC395947 2021-11-01 2022-10-31 SC395947 2023-10-31 SC395947 2022-10-31 SC395947 c:CompanySecretary1 2022-11-01 2023-10-31 SC395947 c:Director1 2022-11-01 2023-10-31 SC395947 c:Director2 2022-11-01 2023-10-31 SC395947 c:RegisteredOffice 2022-11-01 2023-10-31 SC395947 d:PlantMachinery 2022-11-01 2023-10-31 SC395947 d:PlantMachinery 2023-10-31 SC395947 d:PlantMachinery 2022-10-31 SC395947 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC395947 d:FurnitureFittings 2022-11-01 2023-10-31 SC395947 d:FurnitureFittings 2023-10-31 SC395947 d:FurnitureFittings 2022-10-31 SC395947 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC395947 d:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 SC395947 d:OtherPropertyPlantEquipment 2023-10-31 SC395947 d:OtherPropertyPlantEquipment 2022-10-31 SC395947 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC395947 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC395947 d:CurrentFinancialInstruments 2023-10-31 SC395947 d:CurrentFinancialInstruments 2022-10-31 SC395947 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC395947 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 SC395947 d:ShareCapital 2023-10-31 SC395947 d:ShareCapital 2022-10-31 SC395947 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC395947 d:RetainedEarningsAccumulatedLosses 2022-10-31 SC395947 c:FRS102 2022-11-01 2023-10-31 SC395947 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC395947 c:FullAccounts 2022-11-01 2023-10-31 SC395947 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC395947 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: SC395947










RORA RENEWABLE ENERGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 
RORA RENEWABLE ENERGY LIMITED
 

COMPANY INFORMATION


DIRECTORS
B C Mackie 
Mrs J E Mackie 




COMPANY SECRETARY
Mrs J E Mackie



REGISTERED NUMBER
SC395947



REGISTERED OFFICE
Suite A
1 Albyn Place

Aberdeen

AB10 1BR




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
RORA RENEWABLE ENERGY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RORA RENEWABLE ENERGY LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RORA RENEWABLE ENERGY LIMITED for the year ended 31 October 2023 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of RORA RENEWABLE ENERGY LIMITED, as a body, in accordance with the terms of our engagement letter dated 16 May 2018Our work has been undertaken solely to prepare for your approval the financial statements of RORA RENEWABLE ENERGY LIMITED and state those matters that we have agreed to state to the Board of directors of RORA RENEWABLE ENERGY LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RORA RENEWABLE ENERGY LIMITED and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that RORA RENEWABLE ENERGY LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RORA RENEWABLE ENERGY LIMITED. You consider that RORA RENEWABLE ENERGY LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of RORA RENEWABLE ENERGY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
26 July 2024
Page 1

 
RORA RENEWABLE ENERGY LIMITED
REGISTERED NUMBER: SC395947

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
658,268
589,137

  
658,268
589,137

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
556,341
293,938

Cash at bank and in hand
  
128,403
46,054

  
684,744
339,992

Creditors: amounts falling due within one year
 6 
(197,375)
(118,045)

NET CURRENT ASSETS
  
 
 
487,369
 
 
221,947

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,145,637
811,084

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(140,321)
(89,464)

Other provisions
  
(20,000)
(20,000)

  
 
 
(160,321)
 
 
(109,464)

NET ASSETS
  
985,316
701,620


CAPITAL AND RESERVES
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
984,316
700,620

  
985,316
701,620

Page 2

 
RORA RENEWABLE ENERGY LIMITED
REGISTERED NUMBER: SC395947

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.




B C Mackie
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
RORA RENEWABLE ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


GENERAL INFORMATION

Rora Renewable Energy Limited is a private limited company limited by shares incorporated in Scotland.  The registered office is Suite A, 1 Albyn Place, Aberdeen, Scotland, AB10 1BR and the Company registration number is SC395947.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

COMPANY'S BUSINESS

The company's business is generation of electricity and farming through its participation in the farming partnership of Middleton Farms. Income comprises the company's share in the partnership profits and losses each year and income from the generation of electricity.  The book value of its interest in the partnership comproses of the balance standing to its credito on the current account in the books of that business.

 
2.3

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
RORA RENEWABLE ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Wind turbine
-
5% straight line
Solar panels
-
12.5% straight line
Plant and Machinery
-
12.5% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Page 5

 
RORA RENEWABLE ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.6
FINANCIAL INSTRUMENTS (CONTINUED)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2


4.


TANGIBLE FIXED ASSETS





Wind turbine
Solar panels
Plant and Machinery
Total

£
£
£
£



COST OR VALUATION


At 1 November 2022
1,165,308
52,225
-
1,217,533


Additions
-
-
147,390
147,390



At 31 October 2023

1,165,308
52,225
147,390
1,364,923



DEPRECIATION


At 1 November 2022
596,678
31,718
-
628,396


Charge for the year on owned assets
57,272
2,563
18,424
78,259



At 31 October 2023

653,950
34,281
18,424
706,655



NET BOOK VALUE



At 31 October 2023
511,358
17,944
128,966
658,268



At 31 October 2022
568,630
20,507
-
589,137

Page 6

 
RORA RENEWABLE ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
265,860
143,785

Amounts owed by joint ventures and associated undertakings
290,481
150,000

Other debtors
-
153

556,341
293,938



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
80,677
47,042

Amounts owed to other participating interests
-
7,814

Other creditors
116,698
63,189

197,375
118,045



Page 7