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Solar Park Investments Limited

Annual Report and Financial Statements
Year Ended 31 December 2023

Registration number: 07874478

 

Solar Park Investments Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Solar Park Investments Limited

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

17

4,184

Cash at bank and in hand

 

15,103

15,151

 

15,120

19,335

Capital and reserves

 

Called up share capital

5

100

100

Profit and loss account

15,020

19,235

Shareholders' funds

 

15,120

19,335

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 Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mr G Phillips
Director

Company Registration Number: 07874478

 

Solar Park Investments Limited

Notes to the Financial Statements

Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
35 - 35A The Maltings
Lower Charlton Trading Estate
Shepton Mallet
Somerset
England
BA4 5QE

These financial statements were authorised for issue by the Board on 2 August 2024.

2

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 is £ sterling.

Going concern

The financial statements have been prepared on a going concern basis.

In making their going concern assessment, the directors have obtained confirmation that the ultimate parent undertaking and other group companies will continue to provide financial and non financial support to the company for the foreseeable future, being at least 12 months from approval of the financial statements.

The directors have obtained confirmation that the amounts due to group companies, whilst considered repayable on demand, will only be called in when there are sufficient funds to do so and not in detriment to third party creditors.

The directors have also considered the ability of the ultimate parent undertaking and other group companies ability to provide financial and non financial support for the foreseeable future.

As such, the directors believe that the going concern basis to be appropriate.

 

Solar Park Investments Limited

Notes to the Financial Statements

Year Ended 31 December 2023

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1) Deferred tax assets - utilisation of historical losses
The company has taxable losses of £791,021 available to utilise in the future. The directors have exercised judgement in the level of taxable losses that they believe the company will be able to utilise in the future based on financial forecasts for solar park projects and the wider group’s activity. A deferred tax asset of £nil has been recognised in relation to these losses.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

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.

 

Solar Park Investments Limited

Notes to the Financial Statements

Year Ended 31 December 2023

Financial instruments

Classification
The company holds the following financial instruments:

• 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
The company has chosen to apply the recognition and measurement principles in FRS102.

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.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Debtors

2023
£

2022
£

Amounts due from group undertakings

17

-

Deferred tax assets

-

4,184

17

4,184

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Shareholding of £1 each

100

100

100

100

         
 

Solar Park Investments Limited

Notes to the Financial Statements

Year Ended 31 December 2023

6

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 transactions with other wholly owned subsidiaries within the group.

7

Parent and ultimate parent undertaking

The immediate parent company is BSR Group Holdings Limited, a company registered in England & Wales. The ultimate parent company is Owl TopCo 1 Limited, a company registered in England and 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.

8

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Tom Beable (FCA), who signed for and on behalf of PKF Francis Clark on 7 August 2024.