Registration number:
Westlands Solar Ltd
for the Year Ended 31 December 2023
Westlands Solar Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Westlands Solar Ltd
Company Information
Directors |
Andrea Arcangeli Jose Miguel Moraga Delgado |
Registered office |
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Accountants |
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Auditors |
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Westlands Solar Ltd
(Registration number: 13505144)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(19,406) |
(9,582) |
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Shareholders' deficit |
(19,306) |
(9,482) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Westlands Solar Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
There was a net deficiency of assets amounting to £19,306 (2022: £9,482) at the balance sheet date, which includes a shareholder loan of £292,699 from group undertakings. The Company has encountered difficulties securing land for the project and is currently seeking an alternative site. These conditions have created a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern, and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. Management have implemented measures to address the uncertainty including:
• Obtaining a six-month assurance agreement with a new landlord to secure the land until all necessary documents are fully prepared.
• Obtaining support from the parent company to provide necessary funds for the project timeline.
The company is in discussion with two landowners with sufficient land for the project to be relocated, once this land has been secured the project should be on track for completion within the expected timescale. On the basis of the measures described, the financial statements have been prepared on a going concern basis.
Westlands Solar Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Audit report
The Auditor report include the following Note on Material uncertainty related to going concern:
We draw attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £9,824 during the year ended 31 December 2023 and, as of that date, the company’s current liabilities exceeded its total assets by £19,306. As stated in Note 2, these events or conditions, along with other matters as set in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in the respect of this matter.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Assets under construction include the ongoing costs to construct fixed assets which are not ready for use and are stated in the balance sheet at cost. Depreciation will commence once the construction is complete and the asset is in a location and condition necessary for it to be capable of operating in the manner intended by management.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Westlands Solar Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Assets under construction |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Debtors |
Current |
2023 |
2022 |
Other debtors |
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Westlands Solar Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and not fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
During 2023, the company encountered difficulties in securing land for the project. However, as of 19 April 2024, the management has identified suitable parcels of land at Beckerley Lane, Holt, Trowbridge, and WT452750, being land on the southwest side of Copse Farm, Holt, Trowbridge, BA14 6FW. The company has obtained an agreement from the landlords that they will not engage with or allow access to third parties regarding the property, ensuring the use of this land for at least six months, until the lease option is signed.
Westlands Solar Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Summary of transactions with parent
Loans from related parties
2023 |
Parent |
Entities with joint control or significant influence |
Total |
At start of period |
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Advanced |
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( |
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At end of period |
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2022 |
Parent |
Entities with joint control or significant influence |
Total |
Advanced |
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At end of period |
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Parent and ultimate parent undertaking |
The company's immediate and ultimate parent is