Period from 1 March 2023 to
Registration number:
Whaddon Farm Solar Park Limited
Balance Sheet
31 December 2023
Note |
31 December |
(Unaudited) |
|
Fixed assets |
|||
Tangible assets |
|
- |
|
Current assets |
|||
Stocks |
- |
|
|
Debtors |
- |
|
|
Cash at bank and in hand |
- |
|
|
- |
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
|
|
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 13190271
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 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:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of financial statements is £ sterling.
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date, the company had net current liabilities of £703,335 (28 February 2023: net current assets of £64 (unaudited)). At 31 December 2023 the company owed other group companies £703,335 (28 February 2023: £638,290 (unaudited)) for funding the construction of a solar park. The amounts owed to other group companies has been treated as due within one year as there are no formal terms attached to the balances. The directors have obtained confirmation from other group companies that the amounts owed will not be called in until the company has sufficient funds available to do so, or it obtains external finance.
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 31 December 2023
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.
Tangible fixed assets relate to a solar park in construction therefore no depreciation has been provided as the asset is not yet ready to use.
Stocks
Stocks are valued at the lower of cost and recoverable amount. Cost is based on the cost of purchase of goods or services that bring the item to it's location.
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.
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 31 December 2023
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Balances with group undertakings; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 31 December 2023
Tangible assets |
Solar park under construction |
Total |
|
Cost or valuation |
||
At 1 March 2023 (unaudited) |
- |
- |
Additions |
|
|
Transfers from stock |
|
|
At 31 December 2023 |
|
|
Depreciation |
||
At 1 March 2023 (unaudited) |
- |
- |
Charge for the period |
- |
- |
At 31 December 2023 |
- |
- |
Carrying amount |
||
At 31 December 2023 |
|
|
At 28 February 2023 (unaudited) |
- |
- |
Following the sale of the comapny on 27 March 2023, costs previously classified as stock have been transferred to fixed assets as the intention of the company has changed, with an expectation that it will construct and hold a solar park.
Stocks |
31 December |
(Unaudited) |
|
Other inventories |
- |
|
Debtors |
31 December |
(Unaudited) |
|
Other debtors |
- |
|
- |
|
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 31 December 2023
Creditors |
31 December |
(Unaudited) |
|
Due within one year |
||
Trade creditors |
- |
|
Amounts owed to group undertakings |
|
- |
Other creditors |
- |
|
|
|
Share capital |
Allotted, called up and fully paid shares
31 December |
(Unaudited) |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Related party transactions |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. not to disclose related party transaction with wholly owned subsidiaries within the group.
Parent and ultimate parent undertaking |
The immediate parent company is Sulis Midco 1 Limited, a company registered in England & Wales.
The smallest group in which the results of the company are consolidated is that headed by BSR Group Holdings Limited, a company registered in England & Wales. The largest group in which the results of the company is consolidated is that headed by Owl TopCo 1 Limited, a company registered in England & Wales. Copies of the publicly available consolidated financial statements may be obtained from the Registrar of Companies.
The directors do not consider there to be any individual who has ultimate control.
Whaddon Farm Solar Park Limited
Notes to the Financial Statements
Period from 1 March 2023 to 31 December 2023
Audit report |