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Whaddon Farm Solar Park Limited

Annual Report and Financial Statements
Period from 1 March 2023 to 31 December 2023

Registration number: 13190271

 

Whaddon Farm Solar Park Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Whaddon Farm Solar Park Limited

Balance Sheet

31 December 2023

Note

31 December
2023
£

(Unaudited)
28 February
2023
£

Fixed assets

 

Tangible assets

4

703,399

-

Current assets

 

Stocks

5

-

619,737

Debtors

6

-

39,091

Cash at bank and in hand

 

-

5,626

 

-

664,454

Creditors: Amounts falling due within one year

7

(703,335)

(664,390)

Net current (liabilities)/assets

 

(703,335)

64

Net assets

 

64

64

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(36)

(36)

Shareholders' funds

 

64

64

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 13 May 2024 and signed on its behalf by:
 

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

Company Registration Number: 13190271

 

Whaddon Farm Solar Park Limited

Notes to the Financial Statements

Period from 1 March 2023 to 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 13 May 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 of financial statements is £ sterling.

Disclosure of long or short period

The company has prepared a short period of account for the 10 month period to 31 December 2023 in order to align to the period end of the ultimate parent undertaking. The comparative information represents a 12 month period to 28 February 2023.

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
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 period, was 0 (2023 - 0).

 

Whaddon Farm Solar Park Limited

Notes to the Financial Statements

Period from 1 March 2023 to 31 December 2023

4

Tangible assets

Solar park under construction
£

Total
£

Cost or valuation

At 1 March 2023 (unaudited)

-

-

Additions

83,662

83,662

Transfers from stock

619,737

619,737

At 31 December 2023

703,399

703,399

Depreciation

At 1 March 2023 (unaudited)

-

-

Charge for the period

-

-

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

703,399

703,399

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.

5

Stocks

31 December
2023
£

(Unaudited)
28 February
2023
£

Other inventories

-

619,737

6

Debtors

31 December
2023
£

(Unaudited)
28 February
2023
£

Other debtors

-

39,091

-

39,091

 

Whaddon Farm Solar Park Limited

Notes to the Financial Statements

Period from 1 March 2023 to 31 December 2023

7

Creditors

31 December
2023
£

(Unaudited)
28 February
2023
£

Due within one year

Trade creditors

-

26,100

Amounts owed to group undertakings

703,335

-

Other creditors

-

638,290

703,335

664,390

8

Share capital

Allotted, called up and fully paid shares

 

31 December
2023

(Unaudited)
28 February
2023

 

No.

£

No.

£

Shareholding of £1 each

100

100

100

100

         

9

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.

10

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

11

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 15 May 2024.