Registered number: 09355380
BNRG Langmead Limited
Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 December 2023
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BNRG Langmead Limited
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of BNRG Langmead Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BNRG Langmead Limited for the year ended 31 December 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of BNRG Langmead Limited, as a body, in accordance with the terms of our engagement letter dated 3 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of BNRG Langmead Limited and state those matters that we have agreed to state to the Board of directors of BNRG Langmead Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BNRG Langmead Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that BNRG Langmead Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BNRG Langmead Limited. You consider that BNRG Langmead Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of BNRG Langmead Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
26 September 2024
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BNRG Langmead Limited
Registered number: 09355380
Balance sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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P O'Brien Ward
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BNRG Langmead Limited
Notes to the financial statements
For the year ended 31 December 2023
The Company is a private company, limited by share capital, incorporated in England and Wales. The address of its registered office is: Ham Farm, Main Road, Bosham, PO18 8EH.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis. The company's ability to continue to cover its ongoing costs is dependant upon the support of the related companies controlled by the shareholders of BNRG Langmead Limited. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities which may arise and to reclassify fixed assets as current assets.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Short-term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price.
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BNRG Langmead Limited
Notes to the financial statements
For the year ended 31 December 2023
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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The average monthly number of employees, including directors, during the year was 4 (2022 - 4).
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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BNRG Langmead Limited
Notes to the financial statements
For the year ended 31 December 2023
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Related party transactions
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BNRG Renewables Limited
Parent Company
During the year the company continued to receive a loan from BNRG Renewables Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due to BNRG Renewables Limited was £999,297 (2022: £541,844).
Landlink Estates Limited
Parent Company
During the year the company continued to receive a loan from Landlink Estates Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Landlink Estates Limited was £1,033,095 (2022: £575,640).
BL Solar 9 (Manor Farm) Limited
Common control
During the year the company continued to provide a loan to BL Solar 9 (Manor Farm) Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due from BL Solar 9 (Manor Farm) Limited was £550,387 (2022: £10,000).
BL Solar 10 (Ferry Farm) Limited
Common control
During the year the company continued to provide a loan to BL Solar 10 (Ferry Farm) Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due from BL Solar 10 (Ferry Farm) Limited was £689,038 (2022: £11,000).
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The company is controlled by its parent undertakings, Landlink Estates Limited and BNRG Renewables Limited.
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