Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC492031 2023-04-01 2024-03-31 SC492031 2022-04-01 2023-03-31 SC492031 2024-03-31 SC492031 2023-03-31 SC492031 2022-04-01 SC492031 c:Director1 2023-04-01 2024-03-31 SC492031 d:PlantMachinery 2023-04-01 2024-03-31 SC492031 d:PlantMachinery 2024-03-31 SC492031 d:PlantMachinery 2023-03-31 SC492031 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC492031 d:CurrentFinancialInstruments 2024-03-31 SC492031 d:CurrentFinancialInstruments 2023-03-31 SC492031 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC492031 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC492031 d:ShareCapital 2023-04-01 2024-03-31 SC492031 d:ShareCapital 2024-03-31 SC492031 d:ShareCapital 2022-04-01 2023-03-31 SC492031 d:ShareCapital 2023-03-31 SC492031 d:ShareCapital 2022-04-01 SC492031 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 SC492031 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC492031 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 SC492031 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC492031 d:RetainedEarningsAccumulatedLosses 2022-04-01 SC492031 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 SC492031 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 SC492031 c:FRS102 2023-04-01 2024-03-31 SC492031 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC492031 c:FullAccounts 2023-04-01 2024-03-31 SC492031 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC492031 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: SC492031









CRIGGIE RENEWABLES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CRIGGIE RENEWABLES LIMITED
REGISTERED NUMBER: SC492031

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
847,478
896,607

  
847,478
896,607

Current assets
  

Debtors: amounts falling due within one year
 5 
106,984
94,247

Cash at bank and in hand
 6 
970
751

  
107,954
94,998

Creditors: amounts falling due within one year
 7 
(747,532)
(833,099)

Net current liabilities
  
 
 
(639,578)
 
 
(738,101)

Total assets less current liabilities
  
207,900
158,506

Provisions for liabilities
  

Deferred tax
  
(153,859)
(153,408)

  
 
 
(153,859)
 
 
(153,408)

Net assets
  
54,041
5,098


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
53,941
4,998

  
54,041
5,098


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on
Page 1

 
CRIGGIE RENEWABLES LIMITED
REGISTERED NUMBER: SC492031
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

7 November 2024.




Michael Ross Bolton
Director

The notes on pages 5 to 10 form part of these financial statements.
Page 2

 
CRIGGIE RENEWABLES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
100
4,998
5,098


Comprehensive income for the year

Profit for the year

-
212,877
212,877


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
212,877
212,877


Contributions by and distributions to owners

Dividends: Equity capital
-
(163,934)
(163,934)


Total transactions with owners
-
(163,934)
(163,934)


At 31 March 2024
100
53,941
54,041


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
CRIGGIE RENEWABLES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
100
-
100


Comprehensive income for the year

Profit for the year

-
195,571
195,571


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
195,571
195,571


Contributions by and distributions to owners

Dividends: Equity capital
-
(190,573)
(190,573)


Total transactions with owners
-
(190,573)
(190,573)


At 31 March 2023
100
4,998
5,098


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Criggie Renewables Ltd is a private company, limited by shares, registered in Scotland. The Company's
registered number and registered office address can be found on the Company Information page.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
4%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2023
1,230,654



At 31 March 2024

1,230,654



Depreciation


At 1 April 2023
334,047


Charge for the year on owned assets
49,129



At 31 March 2024

383,176



Net book value



At 31 March 2024
847,478



At 31 March 2023
896,607


5.


Debtors

2024
2023
£
£


Other debtors
101,820
90,791

Prepayments and accrued income
5,164
3,456

106,984
94,247


Page 8

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
970
751

970
751



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
571
-

Amounts owed to group undertakings
718,705
816,884

Corporation tax
13,101
-

Other taxation and social security
9,155
9,965

Accruals and deferred income
6,000
6,250

747,532
833,099


At the Balance Sheet date, included in creditors is a loan from the group of £718,705 (2023: £816,884). This loan has no formal repayment terms and is therefore repayable within 1 year. Interest is charged at 6%.


8.


Deferred taxation




2024


£






At beginning of year
(153,408)


Charged to profit or loss
(451)



At end of year
(153,859)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(153,859)
(153,408)

(153,859)
(153,408)

Page 9

 
CRIGGIE RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Provisions

The Company has accelerated claiming of capital allowances on fixed asset additions and as such the net deferred tax asset or liability is recognised by the Company by the directors.
There is a provision within the lease agreements held over the wind farms that they will return the land to its original state within certain requirements. This potential future cost is offset by the potential future scrap metal value of the turbines and the potential repowering of the windfarm at the end of the lease.  The directors believe that the net loss or gain is uncertain and is likely to net off to approximately £Nil, therefore no provision has been recognised regarding this in the accounts.











At 31 March 2024


10.Other financial commitments

The lease commitment for the land for the wind farm held in Criggie Renewables Limited is a peppercorn rent.
Provisions
There is a provision within the lease agreements held over the wind farms that they will return the land to
its original state within certain requirements. This potential future cost is offset by the potential future
scrap metal value of the turbines and the potential repowering opportunities for existing wind energy sites
The directors believe that the net loss or gain is uncertain and is likely to net off to approximately £Nil,
therefore no provision has been recognised regarding this in the accounts.


11.


Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
There were no transactions with key management personnel.


12.


Controlling party

The parent of the smallest group that draws up consolidated accounts is E3 Wind Limited. The registered
office of E3 Wind Limited is 10-12 Bourlet Close, London, W1W 7BR.
 
Page 10