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YARNTON ENERGY CENTRE LIMITED

Registered Number
14013739
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

YARNTON ENERGY CENTRE LIMITED
Company Information
for the period from 1 April 2023 to 31 December 2023

Director

HUGHES, Michael John

Registered Address

Level 4 Ldn:W
3 Noble Street
London
EC2V 7EE

Registered Number

14013739 (England and Wales)
YARNTON ENERGY CENTRE LIMITED
Statement of Financial Position
31 December 2023

Notes

31 Dec 2023

31 Mar 2023

£

£

£

£

Current assets
Stocks3349,915229,550
Debtors413,37044,387
Cash at bank and on hand22612,586
363,511286,523
Creditors amounts falling due within one year5(363,502)(286,513)
Net current assets (liabilities)910
Total assets less current liabilities910
Net assets910
Capital and reserves
Called up share capital1010
Profit and loss account(1)-
Shareholders' funds910
The financial statements were approved and authorised for issue by the Director on 25 September 2024, and are signed on its behalf by:
HUGHES, Michael John
Director
Registered Company No. 14013739
YARNTON ENERGY CENTRE LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The principal activity of the company is development of a UK BESS project. The financial statements are for the period from 1 April 2023 until 31 December 2023 and the previous financial statements are for the period from incorporation on 30 March 2022 to 31 March 2023, therefore they are not directly comparable.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard and the Companies Act 2006. The company's functional and presentational currency is GBP
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks and work in progress
Stock comprises of working progress of a BESS project and is valued at the lower of cost and estimated selling price (less any associated costs of sales).
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.Average number of employees

20232023
Average number of employees during the year00
3.Stocks

2023

2023

££
Work in progress349,915229,550
Total349,915229,550
4.Debtors: amounts due within one year

2023

2023

££
Other debtors13,37044,387
Total13,37044,387
5.Creditors: amounts due within one year

2023

2023

££
Trade creditors / trade payables54,38431,424
Amounts owed to related parties309,118253,320
Accrued liabilities and deferred income-1,769
Total363,502286,513
6.Controlling party
The ultimate parent company is Rivington Investments Limited. The immediate parent company of the company is Renewable Connections Developments Limited. The smallest and largest group to consolidate the accounts of the company is Rivington Energy (Management) Limited whose registered office is Level 4, LDN:W, 3 Noble Street, London, EC2V 7EE. A copy of the group accounts can be obtained from Companies House.