Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr C G S Eyre 02/10/2014 25 June 2024 The principal activity of the Company during the financial year was property letting. The company was preparing to trade as a supplier of electricity but has not commenced trading. 09246520 2024-03-31 09246520 bus:Director1 2024-03-31 09246520 2023-03-31 09246520 core:CurrentFinancialInstruments 2024-03-31 09246520 core:CurrentFinancialInstruments 2023-03-31 09246520 core:ShareCapital 2024-03-31 09246520 core:ShareCapital 2023-03-31 09246520 core:RetainedEarningsAccumulatedLosses 2024-03-31 09246520 core:RetainedEarningsAccumulatedLosses 2023-03-31 09246520 core:LandBuildings 2023-03-31 09246520 core:PlantMachinery 2023-03-31 09246520 core:LandBuildings 2024-03-31 09246520 core:PlantMachinery 2024-03-31 09246520 bus:OrdinaryShareClass1 2024-03-31 09246520 2023-04-01 2024-03-31 09246520 bus:FilletedAccounts 2023-04-01 2024-03-31 09246520 bus:SmallEntities 2023-04-01 2024-03-31 09246520 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09246520 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09246520 bus:Director1 2023-04-01 2024-03-31 09246520 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 09246520 2022-04-01 2023-03-31 09246520 core:LandBuildings 2023-04-01 2024-03-31 09246520 core:PlantMachinery 2023-04-01 2024-03-31 09246520 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09246520 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09246520 (England and Wales)

SADBOROW SOLAR LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SADBOROW SOLAR LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SADBOROW SOLAR LIMITED

BALANCE SHEET

As at 31 March 2024
SADBOROW SOLAR LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 345,568 354,664
345,568 354,664
Current assets
Cash at bank and in hand 33,128 29,827
33,128 29,827
Creditors: amounts falling due within one year 4 ( 455,413) ( 455,191)
Net current liabilities (422,285) (425,364)
Total assets less current liabilities (76,717) (70,700)
Net liabilities ( 76,717) ( 70,700)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 76,817 ) ( 70,800 )
Total shareholders' deficit ( 76,717) ( 70,700)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sadborow Solar Limited (registered number: 09246520) were approved and authorised for issue by the Director on 25 June 2024. They were signed on its behalf by:

Mr C G S Eyre
Director
SADBOROW SOLAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SADBOROW SOLAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Sadborow Solar Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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

At the balance sheet date the company was loss-making and had net current liabilities of £422,285 and net liabilities of £76,717.

The company is preparing to trade as a supplier of electricity. The company was expected to make losses in its early years due to initial set up costs, but it is expected to be profitable in future years.

In the opinion of the director, with the ongoing support of the shareholders, the company has sufficient working capital to be able to continue its activities for the foreseeable future.

The company is reliant upon the continued support of its shareholders. There are no indications that the support currently provided will be withdrawn. Consequently, the director considers it appropriate to prepare the financial statements on the going concern basis.

Turnover

Turnover represents rental income which is recognised evenly over the rental period.

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.

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 basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 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.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2023 253,820 181,927 435,747
At 31 March 2024 253,820 181,927 435,747
Accumulated depreciation
At 01 April 2023 0 81,083 81,083
Charge for the financial year 0 9,096 9,096
At 31 March 2024 0 90,179 90,179
Net book value
At 31 March 2024 253,820 91,748 345,568
At 31 March 2023 253,820 100,844 354,664

Included within the net book value of land and buildings above is £253,820 (2023- £253,820) in respect of freehold land and buildings.

4. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 4,411 4,151
Taxation and social security 1,102 1,140
Other creditors 449,900 449,900
455,413 455,191

5. Called-up share capital

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

6. Related party transactions

Other creditors comprise a director's loan account balance of £204,900 (2023: £204,900) and a balance of £245,000 (2023: £245,000) owed to a company under common control. These balances are interest free and are repayable on demand.