IRIS Accounts Production v24.2.0.383 SC461312 Board of Directors 1.1.23 31.12.23 31.12.23 12.9.24 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4613122022-12-31SC4613122023-12-31SC4613122023-01-012023-12-31SC4613122021-12-31SC4613122022-01-012022-12-31SC4613122022-12-31SC461312ns15:Scotland2023-01-012023-12-31SC461312ns14:PoundSterling2023-01-012023-12-31SC461312ns10:Director12023-01-012023-12-31SC461312ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC461312ns10:SmallEntities2023-01-012023-12-31SC461312ns10:Audited2023-01-012023-12-31SC461312ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC461312ns10:FullAccounts2023-01-012023-12-31SC461312ns10:Director22023-01-012023-12-31SC461312ns10:RegisteredOffice2023-01-012023-12-31SC461312ns5:CurrentFinancialInstruments2023-12-31SC461312ns5:CurrentFinancialInstruments2022-12-31SC461312ns5:ShareCapital2023-12-31SC461312ns5:ShareCapital2022-12-31SC461312ns5:RetainedEarningsAccumulatedLosses2023-12-31SC461312ns5:RetainedEarningsAccumulatedLosses2022-12-31SC461312ns5:PlantMachinery2023-01-012023-12-31SC461312ns5:PlantMachinery2022-12-31SC461312ns5:PlantMachinery2023-12-31SC461312ns5:PlantMachinery2022-12-31SC461312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC461312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC461312ns5:DeferredTaxation2022-12-31SC461312ns5:DeferredTaxation2023-01-012023-12-31SC461312ns5:DeferredTaxation2023-12-31SC46131212023-01-012023-12-31
REGISTERED NUMBER: SC461312 (Scotland)













AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BONERBO RENEWABLE ENERGY LIMITED

BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


BONERBO RENEWABLE ENERGY LIMITED

COMPANY INFORMATION
for the year ended 31 DECEMBER 2023







DIRECTORS: O V Hilton
N J Wood



REGISTERED OFFICE: 13 Queens Road
Aberdeen
AB15 4YL



REGISTERED NUMBER: SC461312 (Scotland)



INDEPENDENT AUDITORS: KPMG Channel Islands Limited
Glategny Court
Glategny Esplande
St. Peter Port
Guernsey
GY1 1WR



ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 720,374 785,033

CURRENT ASSETS
Debtors 6 281,676 245,180
Cash at bank 11,149 46,379
292,825 291,559
CREDITORS
Amounts falling due within one year 7 (116,476 ) (96,905 )
NET CURRENT ASSETS 176,349 194,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

896,723

979,687

PROVISIONS FOR LIABILITIES 8 (148,299 ) (157,484 )
NET ASSETS 748,424 822,203

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 748,024 821,803
SHAREHOLDERS' FUNDS 748,424 822,203

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





N J Wood - Director


BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Bonerbo Renewable Energy Limited (the "Company") is a private company, limited by shares, registered in Scotland, registration number SC461312. The registered office is 13 Queens Road, Aberdeen, Scotland, AB15 4YL.

The principal activity of the company is renewable energy.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by revaluation of certain financial assets.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Going concern
After reviewing the company's forecasts and projections, together with receiving the continued support from shareholders and investors, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Production of electricity
Income is recognised in the period in which the electricity has been generated.

Expenses
Expenses are accounted for on an accruals basis and are recognised in the period in which they are incurred.

Operating leases
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 5% on cost

The carrying value of tangible fixed assets is reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

Financial instruments
Classification of financial instruments:

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,293,187
DEPRECIATION
At 1 January 2023 508,154
Charge for year 64,659
At 31 December 2023 572,813
NET BOOK VALUE
At 31 December 2023 720,374
At 31 December 2022 785,033

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 100,940 -
Amounts owed by group undertakings 106,113 106,113
Prepayments and accrued income 74,623 139,067
281,676 245,180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,678 6,115
Taxation and social security 93,768 75,044
Other creditors 15,030 15,746
116,476 96,905

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 148,299 157,484

Deferred
tax
£   
Balance at 1 January 2023 157,484
Provided during year (9,185 )
Balance at 31 December 2023 148,299

BONERBO RENEWABLE ENERGY LIMITED (REGISTERED NUMBER: SC461312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachid Frihmat (Senior Statutory Auditor)
for and on behalf of KPMG Channel Islands Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions provided by Section 33 of FRS 102 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

The company is a wholly owned subsidiary of Bonerbo Holdings Limited (a company registered in the UK). The ultimate controlling party is Resonance British Wind Energy Income II Limited, registered office First Floor, 10 Lefebvre Street, St Peter Port, Guernsey, GY1 2PE.

11. POST BALANCE SHEET EVENTS

There are no material post balance sheet events to note.