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Registered number: 14417455









ALTUS POWER UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
ALTUS POWER UK LIMITED
REGISTERED NUMBER: 14417455

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
610

Cash at bank and in hand
 5 
34,075

  
34,685

Creditors: amounts falling due within one year
 6 
(18,210)

Net current assets
  
 
 
16,475

Total assets less current liabilities
  
16,475

  

Net assets
  
16,475


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
16,474

  
16,475


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 comprehensive income 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: 




................................................
D Weber
Director

Date: 11 October 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ALTUS POWER UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Altus Power UK Ltd (the 'Company') is a company incorporated on 13 October 2022, in the United Kingdom under the Companies Act. These financial statements are for the period from incorporation date to 31 December 2023. The Company is a private company limited by shares, registered in England and Wales. The registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0DB.
The principal activity of the Company in the period under review was the provision of solar panels.
The financial statements are prepared in pound sterling, which is the functional currency of the Company, and rounded to the nearest whole £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

The directors intend to liquidate the Company in the near future and do not consider it appropriate to adopt the going concern basis of preparation of the financial statements for the financial period to 31 December 2023. Therefore, the financial statements have been prepared on the basis other than that of the going concern basis.
No material adjustments arise as a result of preparing the financial statements on a basis other than that of the going concern basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

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.

Page 2

 
ALTUS POWER UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2023
£


Other debtors
610



5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
34,075



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
3,710

Accruals and deferred income
14,500

18,210



7.


Related party transactions

During the period the company received funding of £103,435 from Altus Power Europe Limited, its immediate parent company and accrued interest of £6,120 on this loan, at the period end the loan was waived as it was deemed unrecoverable.

Page 3

 
ALTUS POWER UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Controlling party

Altus Power Europe Limited (incorporated in England and Wales) is the company's immediate parent company. Altus Power Inc (incorporated in United States of America) is considered by the directors to be the company's ultimate controlling party.
The registered office of the ultimate parent company is 2200 Atlantic St, Sixth Floor, Stamford, Connecticut 06902, USA.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 11 October 2024 by Christopher Cairns (Senior Statutory Auditor) on behalf of Alliotts Chartered Accountants.

 
Page 4