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REGISTERED NUMBER: 08933024 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Roves Solar Farm Limited

Roves Solar Farm Limited (Registered number: 08933024)






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


Roves Solar Farm Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs J S Burr
Mr R G Burr





REGISTERED OFFICE: Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA





REGISTERED NUMBER: 08933024 (England and Wales)

Roves Solar Farm Limited (Registered number: 08933024)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,035,687 1,043,186

CURRENT ASSETS
Cash at bank 27,269 52,340

CREDITORS
Amounts falling due within one year 6 28,472 24,856
NET CURRENT (LIABILITIES)/ASSETS (1,203 ) 27,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,034,484

1,070,670

PROVISIONS FOR LIABILITIES 167,178 167,178
NET ASSETS 867,306 903,492

CAPITAL AND RESERVES
Called up share capital 7 6 6
Share premium 8 649,456 649,456
Retained earnings 8 217,844 254,030
SHAREHOLDERS' FUNDS 867,306 903,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 16 October 2024 and were signed on its behalf by:




Mr R G Burr - Director



Mrs J S Burr - Director


Roves Solar Farm Limited (Registered number: 08933024)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Roves Solar Farm Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for electricity supplied net of discounts and rebates by the company.

Turnover from the sale of electricity is recognised at the point of sale. Where payments are received from customers in advance of electricity supplied the amounts are recognised as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land - Nil
Equipment - 4% on a straight line basis

Financial instruments
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Basic financial liabilities, including trade and other creditors, bank loans, overdrafts and loans from fellow group companies, are initially recognised at transaction price. Bank loans and other loans are subsequently carried at amortised cost, using the effective interest rate method.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

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.

Roves Solar Farm Limited (Registered number: 08933024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to shareholders
Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Land Equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 925,127 176,806 1,101,933
DEPRECIATION
At 1 April 2023 - 58,747 58,747
Charge for year - 7,499 7,499
At 31 March 2024 - 66,246 66,246
NET BOOK VALUE
At 31 March 2024 925,127 110,560 1,035,687
At 31 March 2023 925,127 118,059 1,043,186

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 26,419 19,684
Directors' current accounts 139 3,432
Accruals and deferred income 1,914 1,740
28,472 24,856

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2
2 Ordinary 1 £1 2 2
2 Ordinary B Non Voting £1 2 2
6 6

Roves Solar Farm Limited (Registered number: 08933024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CALLED UP SHARE CAPITAL - continued

Ordinary shares have full voting, dividend and capital distribution rights attached to them, including on winding up of the company. They do not confer any rights of redemption.

Ordinary 1 shares have full voting, dividend and capital distribution rights attached to them.

Ordinary B Non Voting share carry not voting rights but may participate in dividends at the discretion of the company's directors. Share carry a one third right to capital on winding up of the company. They do not confer any rights of redemption.

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 254,030 649,456 903,486
Profit for the year 82,465 82,465
Dividends (118,651 ) (118,651 )
At 31 March 2024 217,844 649,456 867,300

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have personally guaranteed the company's bank loan.

At the year end the company owed the directors £139 (2023: £3,432)

10. ULTIMATE CONTROLLING PARTY

The company is under control of its directors.