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Aller Langport Solar Park Limited

Annual Report and Financial Statements
Year Ended 31 December 2023

Registration number: 08651184

 

Aller Langport Solar Park Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Aller Langport Solar Park Limited

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,953,056

3,309,203

Current assets

 

Debtors

5

447,594

75,871

Cash at bank and in hand

 

1,344

6,753

 

448,938

82,624

Creditors: Amounts falling due within one year

6

(10,118,368)

(3,391,757)

Net current liabilities

 

(9,669,430)

(3,309,133)

Total assets less current liabilities

 

283,626

70

Provisions for liabilities - deferred tax

(262,132)

-

Net assets

 

21,494

70

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

21,394

(30)

Shareholders' funds

 

21,494

70

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 15 May 2024 and signed on its behalf by:
 

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

Company Registration Number: 08651184

 

Aller Langport Solar Park 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

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. At the balance sheet date, the company had net current liabilities of £9,904,430 (2022: £3,309,133). The company owed other group companies £10,102,409 (2022: £3,391,757) 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.

Revenue recognition

Turnover represents the fair value of the consideration received or receivable for the provision of services which fall within the Company’s ordinary activity. Turnover represents amounts recoverable from customers for supply of electricity and is measured at the fair value, based on export meter reads, of consideration received or receivable, stated net of discounts, returns and value added taxes All turnover arose with the United Kingdom.

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.

 

Aller Langport Solar Park Limited

Notes to the Financial Statements

Year Ended 31 December 2023

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 is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 fully commissioned.

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 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Aller Langport Solar Park 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;
• Cash balances; and
• Balances with group undertakings.

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).

 

Aller Langport Solar Park Limited

Notes to the Financial Statements

Year Ended 31 December 2023

4

Tangible assets

Solar park under construction
£

Total
£

Cost or valuation

At 1 January 2023

3,309,203

3,309,203

Additions

6,643,853

6,643,853

At 31 December 2023

9,953,056

9,953,056

Depreciation

At 1 January 2023

-

-

Charge for the year

-

-

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

9,953,056

9,953,056

At 31 December 2022

3,309,203

3,309,203

5

Debtors

2023
£

2022
£

Trade debtors

34,720

-

Amounts owed by group undertakings

348,823

69,557

Prepayments and accrued income

58,618

-

Other debtors

5,433

6,314

447,594

75,871

6

Creditors

2023
£

2022
£

Due within one year

Trade creditors

1,664

-

Amounts owed to group undertakings

10,102,409

3,391,757

Accruals and deferred income

14,295

-

10,118,368

3,391,757

 

Aller Langport Solar Park Limited

Notes to the Financial Statements

Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Shareholding of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total minimum amount of non cancellable operating lease commitments at the balance sheet is £1,007,115 (2022 - £Nil). Of which £797,300 (2022: £Nil) is due in greater than 5 years.

The total amount of capital commitements contracted to but not provided for at the date of the balance sheet is £Nil (2022 - £6,729,726).

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 transactions with other 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 are 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.
 

11

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Tom Beable, who signed for and on behalf of PKF Francis Clark on 15 May 2024.