Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Executor of Elizabeth Ann Sleigh 26/11/2023 07/05/2008 John Sleigh 07/05/2008 Sarah Sleigh 16/01/2023 01 November 2024 The principal activity of the Company continued to be the operation of a wind farm for the generation and supply of electricity. SC341014 2024-04-30 SC341014 bus:Director1 2024-04-30 SC341014 bus:Director2 2024-04-30 SC341014 bus:Director3 2024-04-30 SC341014 2023-04-30 SC341014 core:CurrentFinancialInstruments 2024-04-30 SC341014 core:CurrentFinancialInstruments 2023-04-30 SC341014 core:ShareCapital 2024-04-30 SC341014 core:ShareCapital 2023-04-30 SC341014 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC341014 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC341014 core:LeaseholdImprovements 2023-04-30 SC341014 core:PlantMachinery 2023-04-30 SC341014 core:OfficeEquipment 2023-04-30 SC341014 core:LeaseholdImprovements 2024-04-30 SC341014 core:PlantMachinery 2024-04-30 SC341014 core:OfficeEquipment 2024-04-30 SC341014 bus:OrdinaryShareClass1 2024-04-30 SC341014 2023-05-01 2024-04-30 SC341014 bus:FilletedAccounts 2023-05-01 2024-04-30 SC341014 bus:SmallEntities 2023-05-01 2024-04-30 SC341014 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC341014 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC341014 bus:Director1 2023-05-01 2024-04-30 SC341014 bus:Director2 2023-05-01 2024-04-30 SC341014 bus:Director3 2023-05-01 2024-04-30 SC341014 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-04-30 SC341014 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 SC341014 core:OfficeEquipment 2023-05-01 2024-04-30 SC341014 2022-05-01 2023-04-30 SC341014 core:LeaseholdImprovements 2023-05-01 2024-04-30 SC341014 core:PlantMachinery 2023-05-01 2024-04-30 SC341014 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC341014 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC341014 (Scotland)

ST JOHNS WELLS WIND FARM LIMITED

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

ST JOHNS WELLS WIND FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

ST JOHNS WELLS WIND FARM LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
ST JOHNS WELLS WIND FARM LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 725,605 870,780
725,605 870,780
Current assets
Debtors 4 2,777,455 1,267,932
Cash at bank and in hand 451,787 1,160,305
3,229,242 2,428,237
Creditors: amounts falling due within one year 5 ( 444,052) ( 344,900)
Net current assets 2,785,190 2,083,337
Total assets less current liabilities 3,510,795 2,954,117
Provision for liabilities 6 ( 144,868) ( 173,800)
Net assets 3,365,927 2,780,317
Capital and reserves
Called-up share capital 7 10,032 10,032
Profit and loss account 3,355,895 2,770,285
Total shareholders' funds 3,365,927 2,780,317

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 St Johns Wells Wind Farm Limited (registered number: SC341014) were approved and authorised for issue by the Board of Directors on 01 November 2024. They were signed on its behalf by:

John Sleigh
Director
ST JOHNS WELLS WIND FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
ST JOHNS WELLS 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

St Johns Wells 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. Johns Wells, Fyvie, Turriff, AB53 8PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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:

Leasehold improvements 20 years straight line
Plant and machinery 20 years straight line
Office equipment 20 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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, 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 creditors: amounts falling due within one year.

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 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.

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.

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 2 2

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 May 2023 136,794 2,761,354 1,547 2,899,695
At 30 April 2024 136,794 2,761,354 1,547 2,899,695
Accumulated depreciation
At 01 May 2023 95,760 1,932,940 215 2,028,915
Charge for the financial year 6,840 138,068 267 145,175
At 30 April 2024 102,600 2,071,008 482 2,174,090
Net book value
At 30 April 2024 34,194 690,346 1,065 725,605
At 30 April 2023 41,034 828,414 1,332 870,780

4. Debtors

2024 2023
£ £
Trade debtors 224,109 0
Corporation tax 34,978 33,445
Other debtors 2,518,368 1,234,487
2,777,455 1,267,932

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 134,772 81,392
Taxation and social security 300,483 214,720
Other creditors 8,797 48,788
444,052 344,900

6. Provision for liabilities

2024 2023
£ £
Deferred tax 144,868 173,800

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,032 Ordinary shares shares of £ 1.00 each 10,032 10,032

8. Related party transactions

Transactions with the entity's directors

Advances

As at 1 May 2023 the company was owed £16,570 by the directors. During the accounting year, £nil has been repaid, £nil advanced and interest was charged of £373 (calculated at 2.25%). As at 30 April 2024, the balance owed by directors was £16,943. There are no fixed terms of repayment.