Company Registration No. SC727114
Greystones Offshore Wind Holdco Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2023
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
CONTENTS
Page
Officers and Professional Advisers
1
Directors' Report
2
Balance Sheet
3
Notes to the Financial Statements
4-6
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
DIRECTORS
J Dobson
Lord N Stephen
COMPANY NUMBER
SC727114
REGISTERED OFFICE
C/O CMS Cameron McKenna Nabarro Olswang LLP
4th Floor
Saltire Court
20 Castle Terrace
Edinburgh
Midlothian
Scotland
EH1 2EN
1
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
DIRECTORS' REPORT
The directors present their annual report and financial statements for the year to 31 December 2023.
PRINCIPAL ACTIVITIES
The company was dormant throughout the year.
DIRECTORS
Directors who held office during the year and to the date of this report are:
J Dobson
Lord N Stephen
A Macaskill (resigned 29 October 2024)
The directors' report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
Approved by the Board of Directors
and signed on behalf of the Board
Lord N Stephen
Director
Date ……………………….
2
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
Note
2023
£
2022
£
FIXED ASSETS
Investments
2
100
100
CURRENT ASSETS
Debtors
3
100
100
CREDITORS: amounts falling due within one year
4
(100)
(100)
NET CURRENT ASSETS
-
-
TOTAL ASSETS LESS CURRENT LIABILITIES
100
100
NET ASSETS
100
100
CAPITAL AND RESERVES
Called up share capital
5
100
100
TOTAL EQUITY
100
100
The company has not traded during the financial year and therefore no profit and loss account is presented.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
The financial statements of Greystones Offshore Wind Holdco Limited (Company Registration No. SC727114) were approved by the Board of Directors on …………………………..
Signed on behalf of the Board of Directors
Lord N Stephen
Director
3
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1.
ACCOUNTING POLICIES
Company Information
Greystones Offshore Wind Holdco Limited (SC727114) is a private company limited by shares and incorporated in Scotland. The registered office is 12 Alva Street, Edinburgh, Scotland, EH2 4QG.
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.
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.
The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. Consequently, these financial statements present the financial position and financial performance of the company as a single entity.
Investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment loss.
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.
Basic financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities payable within one year are not amortised.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Profit and loss account
The company has not traded during the year and therefore no profit and loss account is presented.
4
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.
INVESTMENTS
Subsidiaries
£
Cost
At 31 December 2022 and 31 December 2023
100
Provisions for impairment
At 31 December 2022 and 31 December 2023
-
Net book value
At 31 December 2022 and 31 December 2023
100
The company's wholly owned subsidiary undertaking is Greystones OWL Windfarm Limited, a dormant company registered at 1WML, 1 Windmill Lane, Dublin 2, Dublin, D02 F206, Ireland.
3.
DEBTORS
2023
£
2022
£
Amounts owed by fellow group undertakings
100
100
4.
CREDITORS: amounts falling due within one year
2023
£
2022
£
Amounts owed to fellow group undertakings
100
100
5. CALLED UP SHARE CAPITAL
2023
£
2022
£
Allotted and called up
100 Ordinary shares of £1 each
100
100
5
GREYSTONES OFFSHORE WIND HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
6. RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemptions available to those subsidiaries that are wholly owned under FRS 102. Accordingly, disclosure is not made of any related party transactions with the company's parent company or fellow wholly owned subsidiaries.true
7. ULTIMATE PARENT COMPANY
The immediate parent company and the parent of the smallest group for which consolidated accounts are drawn up of which the company is a member is Flotation Energy Limited, a company with a registered office at C/O CMS Cameron McKenna Nabarro Olswang LLP, 4th Floor, Saltire Court, 20 Castle Terrace, Edinburgh, Midlothian, Scotland, EH1 2EN.
6
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