Registration number:
C.GEN Killingholme Limited
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C.GEN Killingholme Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
C.GEN Killingholme Limited
Company Information
Directors |
F S Maes H N Gates B D Dove-Seymour F van Bellingen |
Registered office |
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Accountants |
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C.GEN Killingholme Limited
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
27,250,000 |
27,250,000 |
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Retained earnings |
(2,330,172) |
(2,192,189) |
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Shareholders' funds |
24,919,828 |
25,057,811 |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
C.GEN Killingholme Limited
Statement of Financial Position as at 31 December 2023
Approved and authorised by the
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F S Maes
Director
Company registration number: 06422434
C.GEN Killingholme Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of energy development.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company had net assets at 31 December 2023 amounting to £25,155,710.
The directors have considered the potential impact of the current economic downturn. The company continues to incur costs in relation to its energy project, which is considered to be long term in nature.
Having made sufficient enquiries, and based upon the above, the directors have reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
C.GEN Killingholme Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.No depreciation is provided until the development is complete are providing economic benefit .
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. No amortisation is provided until the development is complete and providing economic benefit.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company during the year, was
C.GEN Killingholme Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Intangible assets |
Development costs |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Tangible assets |
Freehold land |
Assets under construction |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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C.GEN Killingholme Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Details of non-current trade and other debtors
Other debtors includes an amount of £Nil (2022: £1,330,395) which is non-current.
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
The total amount of contracted capital commitments not included in the statement of financial position is £
Guarantees
Included in cash at bank is an amount of £259,771 (2022: £260,706) which has been placed on deposit as security for the issue of a performance guarantee in favour of a third party. A performance guarantee has been issued for an amount of £4,300,000.
Related party transactions |
In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year or amounts falling due between undertakings where 100% of the voting rights are controlled within the group.