Registration number:
Equinor Welkin Mill Limited
for the Period from 1 April 2023 to 31 December 2023
Equinor Welkin Mill Limited
Contents
Statement of Financial Position |
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Notes to the Financial Statements |
Equinor Welkin Mill Limited
(Registration number: 11140788)
Statement of Financial Position as at 31 December 2023
Note |
As at |
As at |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
15,000,002 |
2 |
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Profit and loss account |
(820,537) |
(2,472) |
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Shareholders' funds/(deficit) |
14,179,465 |
(2,470) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
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Equinor Welkin Mill Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England.
On 31 March 2023, the company was sold by Noriker Power Limited to Equinor New Energy Limited.
Principal activity
The principal activity of the company is the trade of provision of management and technical services relating to the production and sale of electricity.
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which presumes the ongoing support of the directors and the parent company.
Equinor Welkin Mill Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Audit report
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Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Tangible assets
Tangible assets are stated in the statement of financial position 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.
Depreciation
Depreciation is charged so as to write off the costs of assets, other than properties under construction, over their estimated useful lives. There has been no depreciation in the year on the assets, as the assets have yet to be utilised and therefore their residual value is still that of the book value and therefore nil depreciation is currently required.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Equinor Welkin Mill Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Equinor Welkin Mill Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023 (continued)
Tangible assets |
Properties under construction |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 1 April 2023 |
- |
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Charge for the period |
- |
- |
At 31 December 2023 |
- |
- |
Carrying amount |
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At 31 December 2023 |
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At 31 March 2023 |
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Debtors |
9 month period to |
8 month period to |
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Other debtors |
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Prepayments |
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Equinor Welkin Mill Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
9 month period to |
8 month period to |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
9 month period to |
8 month period to |
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No. |
£ |
No. |
£ |
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15,000,002 |
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2 |
15,000,000 Ordinary £1 shares were allotted during the period for consideration of £15,000,000.
Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
Capital Commitments |
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