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REGISTERED NUMBER: 03545697 (England and Wales)















Financial Statements

for the year ended

31 March 2024

for

Cwmni Gwynt Teg Cyf

Cwmni Gwynt Teg Cyf (Registered number: 03545697)






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


Cwmni Gwynt Teg Cyf

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr C J Tanner
Mr M Ma
Mr J P Hardy



SECRETARY: Moelogan 2 (O&M) Cyfyngedig



REGISTERED OFFICE: Cae Sgubor
Ffordd Pennant
Eglwysbach
Conwy
LL28 5UN



REGISTERED NUMBER: 03545697 (England and Wales)



AUDITORS: Azets Audit Services
Statutory Auditors
Chartered Accountants
First Floor
Unit 55 Ffordd William Morgan
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JG



ACCOUNTANTS: Powell Chartered Accountants
Market Street
Ruthin
Denbighshire
LL15 1AU

Cwmni Gwynt Teg Cyf (Registered number: 03545697)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,244,000 4,231,000

CURRENT ASSETS
Debtors 5 210,661 150,223
Cash at bank 614,160 125,258
824,821 275,481
CREDITORS
Amounts falling due within one year 6 775,928 299,075
NET CURRENT ASSETS/(LIABILITIES) 48,893 (23,594 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,292,893 4,207,406

PROVISIONS FOR LIABILITIES 7 807,954 1,054,035
NET ASSETS 2,484,939 3,153,371

CAPITAL AND RESERVES
Called up share capital 30 30
Revaluation reserve 8 2,323,022 3,063,272
Retained earnings 161,887 90,069
SHAREHOLDERS' FUNDS 2,484,939 3,153,371

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 2 October 2024 and were signed on its behalf by:





Mr J P Hardy - Director


Cwmni Gwynt Teg Cyf (Registered number: 03545697)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Cwmni Gwynt Teg Cyf is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying
amount of assets and liabilities are as follows.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
On 31 March 2021 the accounting policy for plant and machinery was changed from depreciated cost (straight line over 20 years) to fair value measurement, resulting in the creation of the revaluation reserve and consequential adjustment to the deferred tax provision. Annual impairment reviews are carried out in lieu of a fixed depreciation charge. The most recent impairment review was carried out on 31 March 2024, further details of the valuation can be found in the 'Tangible Fixed Assets' note overleaf.

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.

Cwmni Gwynt Teg Cyf (Registered number: 03545697)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023 4,231,000
Impairments (987,000 )
At 31 March 2024 3,244,000
NET BOOK VALUE
At 31 March 2024 3,244,000
At 31 March 2023 4,231,000

Cost or valuation at 31 March 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2021 4,231,000
Valuation in 2024 (987,000 )
3,244,000

If plant and machinery had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,978,752 1,978,752
Aggregate depreciation 1,832,115 1,832,115

Plant and machinery was valued on an open market basis basis on 31 March 2021 by Foresight Group .

Historically, plant and machinery had been recognised at cost less accumulated depreciation (straight line over 20 years). On 31 March 2021 the accounting policy was changed to fair value measurement. An impairment of the wind turbines' value was considered appropriate on 31 March 2024, the valuation and impairment adjustment are shown above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued income 191,086 132,622
Prepayments 19,575 17,601
210,661 150,223

Cwmni Gwynt Teg Cyf (Registered number: 03545697)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 35,001 30,764
Tax 555,827 172,191
VAT 122,563 63,380
Accrued expenses 62,537 32,740
775,928 299,075

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 807,954 1,054,035

Deferred
tax
£   
Balance at 1 April 2023 1,054,035
Provided during year 669
Adj. relating to revaluation (246,750 )
Balance at 31 March 2024 807,954

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 3,063,272
Impairment of plant and
machinery (987,000 )
Deferred tax movement on
revalued assets 246,750

At 31 March 2024 2,323,022

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Ward (Senior Statutory Auditor)
for and on behalf of Azets Audit Services

10. RELATED PARTY DISCLOSURES

CGT Investments Limited (the immediate parent company) surrendered a tax loss to Cwmni Gwynt Teg Cyf during the year. The loss arose from interest payments on a loan to CGT Investments Limited from its immediate parent company, JLEN Environmental Assets Group (UK) Limited.

11. ULTIMATE PARENT COMPANY

Cwmni Gwynt Teg Cyf is a wholly owned subsidiary of CGT Investments Limited, which in turn is a wholly owned subsidiary of JLEN Environmental Assets Group (UK) Limited whose parent company is JLEN Environmental Assets Group Limited.

The ultimate controlling entity 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.