REGISTERED NUMBER: |
Financial Statements |
for the year ended |
31 March 2024 |
for |
Moelogan 2 (Holdings) Cyfyngedig |
REGISTERED NUMBER: |
Financial Statements |
for the year ended |
31 March 2024 |
for |
Moelogan 2 (Holdings) Cyfyngedig |
Moelogan 2 (Holdings) Cyfyngedig (Registered number: 06517525) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Moelogan 2 (Holdings) Cyfyngedig |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
First Floor |
Unit 55 Ffordd William Morgan |
St Asaph Business Park |
St Asaph |
Denbighshire |
LL17 0JG |
ACCOUNTANT: |
Market Street |
Ruthin |
Denbighshire |
LL15 1AU |
Moelogan 2 (Holdings) Cyfyngedig (Registered number: 06517525) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 6 |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
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 |
Moelogan 2 (Holdings) Cyfyngedig (Registered number: 06517525) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Moelogan 2 (Holdings) Cyfyngedig is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Moelogan 2 (Holdings) Cyfyngedig as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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, being a period of twelve months after the date on which the annual report and financial statements are signed. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Moelogan 2 (Holdings) Cyfyngedig (Registered number: 06517525) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Shares in group undertakings represent the investment in the company's wholly owned subsidiary, Moelogan 2 CCC, a trading company that owns and operates nine wind turbines. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by group undertakings relates to a historic loan to the company's wholly owned subsidiary, Moelogan 2 CCC, relating to proceeds from a share issue in the parent company that were used to fund the subsidiary's wind farm development. No interest has been charged on the loan. |
This loan was written off in the books of both companies on 31 March 2024. |
6. | RESERVES |
On 20 February 2024 a special resolution was passed to reduce the share premium account from £1,065,678 to £Nil. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
Moelogan 2 CCC |
On 31 March 2024 a loan balance due from Moelogan 2 CCC to Moelogan 2 (Holdings) Cyf (its immediate parent company) of £1,019,602 was written off in both companies. No interest was ever charged on this balance. |
9. | ULTIMATE PARENT COMPANY |
The ultimate parent company is JLEN Environmental Assets Group Limited, a limited corporate entity incorporated in Guernsey, Channel Islands. |
The registered address of JLEN Environmental Assets Group Limited is 1 Royal Plaza, Royal Avenue, St Peter Port, Guernsey GY1 2HL. |