Silverfin false false 30/04/2024 01/05/2023 30/04/2024 John Sleigh 22/01/2013 Sarah Sleigh 22/01/2013 Wendy Sleigh 22/01/2013 John Sleigh Wendy Jane Sleigh Sarah Mary Helen Sleigh 03 November 2024 The principal activity of the Company continued to be the operation of a wind farm for the generation and supply of electricity. SC439648 2024-04-30 SC439648 bus:Director1 2024-04-30 SC439648 bus:Director2 2024-04-30 SC439648 bus:Director3 2024-04-30 SC439648 2023-04-30 SC439648 core:CurrentFinancialInstruments 2024-04-30 SC439648 core:CurrentFinancialInstruments 2023-04-30 SC439648 core:ShareCapital 2024-04-30 SC439648 core:ShareCapital 2023-04-30 SC439648 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC439648 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC439648 core:LandBuildings 2023-04-30 SC439648 core:OtherPropertyPlantEquipment 2023-04-30 SC439648 core:LandBuildings 2024-04-30 SC439648 core:OtherPropertyPlantEquipment 2024-04-30 SC439648 bus:OrdinaryShareClass1 2024-04-30 SC439648 2023-05-01 2024-04-30 SC439648 bus:FilletedAccounts 2023-05-01 2024-04-30 SC439648 bus:SmallEntities 2023-05-01 2024-04-30 SC439648 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC439648 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC439648 bus:Director1 2023-05-01 2024-04-30 SC439648 bus:Director2 2023-05-01 2024-04-30 SC439648 bus:Director3 2023-05-01 2024-04-30 SC439648 bus:CompanySecretary1 2023-05-01 2024-04-30 SC439648 bus:Director4 2023-05-01 2024-04-30 SC439648 bus:Director5 2023-05-01 2024-04-30 SC439648 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 SC439648 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 SC439648 2022-05-01 2023-04-30 SC439648 core:LandBuildings 2023-05-01 2024-04-30 SC439648 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC439648 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC439648 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC439648 (Scotland)

CROMLET WIND FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

CROMLET WIND FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

CROMLET WIND FARM LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
CROMLET WIND FARM LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 360,019 400,022
360,019 400,022
Current assets
Debtors 4 844,225 796,344
Cash at bank and in hand 354,964 348,442
1,199,189 1,144,786
Creditors: amounts falling due within one year 5 ( 1,090,087) ( 1,173,620)
Net current assets/(liabilities) 109,102 (28,834)
Total assets less current liabilities 469,121 371,188
Provision for liabilities 6 ( 65,441) ( 70,983)
Net assets 403,680 300,205
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 403,580 300,105
Total shareholders' funds 403,680 300,205

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cromlet Wind Farm Limited (registered number: SC439648) were approved and authorised for issue by the Board of Directors on 03 November 2024. They were signed on its behalf by:

John Sleigh
Director
CROMLET WIND FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
CROMLET WIND FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cromlet Wind Farm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is St John's Wells, Fyvie, AB53 8PX, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents income generated from the generation and supply of electricity, net of VAT and other trade discounts. Turnover is recognised at the point of generation, on the accrual basis.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Plant and machinery etc. 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rent payable under operating leases, including any lease incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are recognised at transaction price.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2023 76,556 723,496 800,052
At 30 April 2024 76,556 723,496 800,052
Accumulated depreciation
At 01 May 2023 38,280 361,750 400,030
Charge for the financial year 3,828 36,175 40,003
At 30 April 2024 42,108 397,925 440,033
Net book value
At 30 April 2024 34,448 325,571 360,019
At 30 April 2023 38,276 361,746 400,022

4. Debtors

2024 2023
£ £
Corporation tax 196,607 195,963
Other debtors 647,618 600,381
844,225 796,344

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,111 0
Taxation and social security 86,542 53,739
Other creditors 1,000,434 1,119,881
1,090,087 1,173,620

6. Provision for liabilities

2024 2023
£ £
Deferred tax 65,441 70,983

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts due by participators 60,772 60,740

The above balance has interest charged of £1,333 (calculated at 2.25%) and has no fixed terms of repayment.

Transactions with the entity's directors

Advances

As at 1 May 2023 the company was owed £61,974 by the director. During the accounting year, £480 has advanced and interest was charged of £1,394 (calculated at 2.25%). As at 30 April 2024, the balance owed by the director was £63,848. There are no fixed terms of repayment.