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REGISTERED NUMBER: SC504936 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

ASHOGLE WIND LIMITED

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ASHOGLE WIND LIMITED

COMPANY INFORMATION
for the year ended 30 DECEMBER 2023







DIRECTORS: A J Duncan
A W J Fowlie
D A S Green
Miss R Duncan





REGISTERED OFFICE: Muirden Farm
Turriff
Aberdeenshire
AB53 4NH





REGISTERED NUMBER: SC504936 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

STATEMENT OF FINANCIAL POSITION
30 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 821,292 891,189

CURRENT ASSETS
Debtors 5 300,868 324,787
Cash at bank 474,966 228,563
775,834 553,350
CREDITORS
Amounts falling due within one year 6 (209,559 ) (162,712 )
NET CURRENT ASSETS 566,275 390,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,387,567

1,281,827

CREDITORS
Amounts falling due after more than one
year

7

(704,085

)

(795,849

)

PROVISIONS FOR LIABILITIES (137,190 ) (122,005 )
NET ASSETS 546,292 363,973

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 166,842 166,842
Retained earnings 379,350 197,031
SHAREHOLDERS' FUNDS 546,292 363,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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.

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

STATEMENT OF FINANCIAL POSITION - continued
30 DECEMBER 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 22 July 2024 and were signed on its behalf by:





D A S Green - Director


ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 DECEMBER 2023

1. STATUTORY INFORMATION

Ashogle Wind Limited is a private company, limited by shares, registered in Scotland, registration number SC504936. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH.

The principal activity of the company is renewable energy.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Production of electricity
Income is recognised in the period in which the electricity has been generated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 5% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 December 2022
and 30 December 2023 1,397,943
DEPRECIATION
At 31 December 2022 506,754
Charge for year 69,897
At 30 December 2023 576,651
NET BOOK VALUE
At 30 December 2023 821,292
At 30 December 2022 891,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,099 39,507
Amounts owed by associates 165,000 165,000
Other debtors 40,769 120,280
300,868 324,787

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,797 4,990
Taxation and social security 51,308 18,213
Other creditors 142,454 139,509
209,559 162,712

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 704,085 795,849

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 387,994 387,994

ASHOGLE WIND LIMITED (REGISTERED NUMBER: SC504936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 817,641 902,403

Assignation in security has been granted in favour of Close Leasing Ltd over the turbine supply and grid connection agreements. The same entity also holds a floating charge over all the property and undertaking of the company.