Company registration number 14266235 (England and Wales)
HORSE CLOSE GREEN POWER LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
HORSE CLOSE GREEN POWER LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
HORSE CLOSE GREEN POWER LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
3
1
1
Current liabilities
4
(1,513)
-
Net current (liabilities)/assets
(1,512)
1
Net (liabilities)/assets
(1,512)
1
Equity
Called up share capital
6
1
1
Retained earnings
(1,513)
Total equity
(1,512)
1
The notes on pages 2 to 5 form part of these financial statements.
The directors of the company have elected not to include a copy of the income statement within the financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 September 2024 and are signed on its behalf by:
J Jimenez
Director
Company registration number 14266235
HORSE CLOSE GREEN POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Horse Close Green Power Limited is a private company limited by shares incorporated in England and Wales. The registered office is 58 Marylebone High Street, London, England, W1U 5HT. The company's principal activities and nature of its operations are disclosed in the notes to the financial statements.
1.1
Reporting period
The reporting period covers the 12 months to 31 December 2023. The prior period covered a 5 month period from 1 August 2022 to 31 December 2022 in order to bring the reporting date in line with other group entities. For this reason, the comparatives are not entirely comparable.
1.2
Accounting convention
The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS
inclusion of an explicit and unreserved statement of compliance with IFRS;
presentation of a statement of cash flows and related notes;
disclosure of the objectives, policies and processes for managing capital;
disclosure of key management personnel compensation;
disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;
the effect of financial instruments on the statement of comprehensive income;
comparative period reconciliations for the number of shares outstanding and the carrying amounts of property, plant and equipment, intangible assets, investment property and biological assets;
disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;
a reconciliation of the number and weighted average exercise prices of share options, how the fair value of share-based payments was determined and their effect on profit or loss and the financial position;
comparative narrative information;
for financial instruments, investment property and biological assets measured at fair value and within the scope of IFRS 13, the valuation techniques and inputs used to measure fair value, the effect of fair value measurements with significant unobservable inputs on the result for the period and the impact of credit risk on the fair value; and
related party disclosures for transactions with the parent or wholly owned members of the group.
Where required, equivalent disclosures are given in the group accounts of Acorn Bioenergy Limited. The group accounts of Acorn Bioenergy Limited are available to the public and can be obtained as set out in note 8.
1.3
Going concern
The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is dependent upon continued support from the immediate parent company, Acorn Bioenergy Limited, who have provided written confirmation of their willingness to provide continued support to the company for the foreseeable future, defined as at least 12 months from the date of signing these financial statements for the year ended 2023. Based on this support, the directors continue consider it appropriate to prepare these financial statements on the going concern basis.true
HORSE CLOSE GREEN POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks.
1.5
Financial assets
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.
At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.
Financial assets held at amortised cost
Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.
Impairment of financial assets
Financial assets carried at amortised cost and Fair Value through Other Comprehensive Income are assessed for indicators of impairment at each reporting end date.
The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
1.6
Financial liabilities
The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.
Other financial liabilities
Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
HORSE CLOSE GREEN POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year/period was:
2023
2022
Number
Number
5
3
Trade and other receivables
2023
2022
£
£
Amount owed by parent undertaking
1
1
4
Liabilities
2023
2022
Notes
£
£
Trade and other payables
5
1,513
5
Trade and other payables
2023
2022
£
£
Amount owed to parent undertaking
13
Accruals and deferred income
1,500
1,513
-
6
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
100
100
1
1
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified and signed on 12 September 2024.
The senior statutory auditor was David Lawrence BSc (Hons) FCA and the auditor was Azets Audit Services.
HORSE CLOSE GREEN POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Controlling party
The immediate parent undertaking and the smallest group to consolidate these financial statements is Acorn Bioenergy Limited, Copies of the Acorn Bioenergy Limited consolidated financial statements can be obtained from the registered office address at 58 Marylebone High Street, London, England, W1U 5HT.
The ultimate parent undertaking and the largest group to consolidate these financial statements is Q-Energy V UK Holdco Limited, Copies of the Q-Energy V UK Holdco Limited consolidated financial statements can be obtained from the registered office address at 58 Marylebone High Street, London, England, W1U 5HT.