Company registration number 14470697 (England and Wales)
GV 2 LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GV 2 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GV 2 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
1
Creditors: amounts falling due within one year
4
(11,575)
Net current liabilities
(11,574)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(11,575)
Total equity
(11,574)

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
Mr M J Hayes
Director
Company registration number 14470697 (England and Wales)
GV 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

GV 2 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 3b Walnut Tree Business Centre, Northwich Road, Lower Stretton, Warrington, Cheshire, WA4 4PG.

1.1
Reporting period

The company presents its first annual financial statements for a reporting period from incorporation on 8 November 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The directors have decided that there is no purpose for the company and therefore intend to dissolve it. Accordingly the financial statements have been prepared on a basis other than going concern.true

 

No adjustments have been necessary as a result of the going concern basis not being appropriate.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

GV 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

GV 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
4
3
Debtors
2023
Amounts falling due within one year:
£
Other debtors
1
4
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings
8,075
Accruals and deferred income
3,500
11,575
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 1.3 of the financial statements which explains that the directors intend to dissolve the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in note 1.3.

Our opinion is not modified in this respect.

Senior Statutory Auditor:
Priti Mistry
Statutory Auditor:
UHY Hacker Young
Date of audit report:
8 November 2024
GV 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
6
Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 not to disclose transactions with wholly owned members of the group headed by Greenvolt Energias Renovaveis, S.A..

7
Parent company

The immediate parent company is Greenvolt Power UK Limited, a company incorporated in England & Wales.

The ultimate parent company is Greenvolt Energias Renovaveis, S.A, a company incorporated in Portugal.

 

The company is included within the consolidated financial statements of Greenvolt Energias Renovaveis, S.A., these financial statements are available at www.greenvolt.com.

2023-12-312022-11-08false08 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr M J HayesMr D N M da CostaMr S MartinisMr D W SouthallMr Pedro  Da Cunhafalsefalse144706972022-11-082023-12-31144706972023-12-3114470697core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114470697core:CurrentFinancialInstruments2023-12-3114470697core:ShareCapital2023-12-3114470697core:RetainedEarningsAccumulatedLosses2023-12-3114470697bus:Director12022-11-082023-12-3114470697bus:PrivateLimitedCompanyLtd2022-11-082023-12-3114470697bus:SmallCompaniesRegimeForAccounts2022-11-082023-12-3114470697bus:FRS1022022-11-082023-12-3114470697bus:Audited2022-11-082023-12-3114470697bus:Director22022-11-082023-12-3114470697bus:Director32022-11-082023-12-3114470697bus:Director42022-11-082023-12-3114470697bus:Director52022-11-082023-12-3114470697bus:FullAccounts2022-11-082023-12-31xbrli:purexbrli:sharesiso4217:GBP