Registered number
08871776
JFS Wray House Biogas Limited
Filleted Accounts
31 December 2023
JFS Wray House Biogas Limited
Registered number: 08871776
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 2,953,627 2,972,845
Current assets
Stocks 13,312 -
Debtors 5 260,190 245,932
Cash at bank and in hand 200,142 229,699
473,644 475,631
Creditors: amounts falling due within one year 6 (1,019,371) (777,674)
Net current liabilities (545,727) (302,043)
Total assets less current liabilities 2,407,900 2,670,802
Creditors: amounts falling due after more than one year 7 (4,727,502) (4,727,502)
Net liabilities (2,319,602) (2,056,700)
Capital and reserves
Called up share capital 8 100 100
Share premium 559,950 559,950
Profit and loss account (2,879,652) (2,616,750)
Shareholders' funds (2,319,602) (2,056,700)
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Mills
Director
Approved by the board on 21 August 2024
JFS Wray House Biogas Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. The directors acknowledge the continued losses within the company due to depreciation of significant plant and machinery, as well as interest accruing on loans. At an EBITDA level, the company remains profitable (2023: £354K).  Shareholders have stated that they will not recall the loans to the company whilst it would damage the interest of external creditors. Having considered the matters above, the directors are satisfied that the company will continue to meet their obligations. Therefore, the directors continue to adopt the going concern basis of accounting in preparing these financial statements.                          
Turnover
Turnover represents amounts receivable from the generation of electricity through anaerobic digestion, net of VAT. Turnover from the sale of electricity is recognised when it is exported to the grid, the point at which the significant risks and rewards of ownership have passed to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Between 5 and 20 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Angela Ingham FCA
Firm: Azets Audit Services
Date of audit report: 29 August 2024
3 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 4,532,719
Additions 270,793
Disposals (14,941)
At 31 December 2023 4,788,571
Depreciation
At 1 January 2023 1,559,874
Charge for the year 285,927
Disposals (10,857)
At 31 December 2023 1,834,944
Net book value
At 31 December 2023 2,953,627
At 31 December 2022 2,972,845
5 Debtors 2023 2022
£ £
Trade debtors 1,084 77,018
Other debtors 259,106 168,914
260,190 245,932
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 259,640 179,805
Other creditors 759,731 597,869
1,019,371 777,674
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 4,727,502 4,727,502
8 Share Capital 2023 2022
£ £
Ordinary share capital
Issued and fully paid up shares of £1 each 100 100
9 Related party transactions
2023 2022
£ £
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sales made by entities with common control or common significant influence 27,668 29,967
Purchases made from entities with common control or common significant influence 748,813 654,984
2023 2022
£ £
Amounts due from related parties
Entities with common control or common significant influence 2,506 5,699
Amounts due to related parties
Entities with common control or common significant influence 86,569 103,287
Iona Environmental Infrastructure Holdco Limited, provides the company with long term funding. The amount outstanding on the loan at 31 December 2023 was £4,727,502 (2022: £4,727,502) and is included in Creditors. The interest charged on the loan is 7% per annum. Interest of £330,925 (2022: £321,233) was charged in the year.
10 Other information
JFS Wray House Biogas Limited is a private company limited by shares and incorporated in England. Its registered office is:
Marlborough House,
Westminster Place, Nether Poppleton,
York
North Yorkshire
YO26 6RW
The company's immediate holding company is Iona Environmental Infrastructure Holdco Limited. Its registered office is:
123 Pall Mall
London
SW1Y 5EA
The company's ultimate parent company is Iona Capital Limited. Its registered office is:
123 Pall Mall
London
SW1Y 5EA
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