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Registration number: NI642031

Silverford Wind 2 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Silverford Wind 2 Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Silverford Wind 2 Ltd

Company Information

Directors

Mr Barry Meeke

Mrs Caroline Meeke

Registered office

Silverford House
114 Bush Road
Dungannon
Co Tyrone
BT71 6QG

Solicitors

CT McAlpine
12 Northland Row
Dungannon
Co Tyrone
BT71 6AT

Accountants

Anne Douglas Ltd
2 Killyman Street
Moy
Co Tyrone
BT71 7SJ

 

Silverford Wind 2 Ltd

(Registration number: NI642031)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

259,051

282,529

Current assets

 

Debtors

5

316,761

157,804

Cash at bank and in hand

 

84,999

60,919

 

401,760

218,723

Creditors: Amounts falling due within one year

6

(124,686)

(39,014)

Net current assets

 

277,074

179,709

Total assets less current liabilities

 

536,125

462,238

Provisions for liabilities

(51,727)

(41,599)

Net assets

 

484,398

420,639

Capital and reserves

 

Called up share capital

7

100

100

Share premium reserve

59,304

59,304

Retained earnings

424,994

361,235

Shareholders' funds

 

484,398

420,639

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Silverford Wind 2 Ltd

(Registration number: NI642031)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

.........................................
Mr Barry Meeke
Director

 

Silverford Wind 2 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Silverford House
114 Bush Road
Dungannon
Co Tyrone
BT71 6QG
Northern Ireland

These financial statements were authorised for issue by the Board on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Silverford Wind 2 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

5% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Silverford Wind 2 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Silverford Wind 2 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

366,076

366,076

Additions

4,136

4,136

Disposals

(12,000)

(12,000)

At 30 November 2023

358,212

358,212

Depreciation

At 1 December 2022

83,547

83,547

Charge for the year

16,814

16,814

Eliminated on disposal

(1,200)

(1,200)

At 30 November 2023

99,161

99,161

Carrying amount

At 30 November 2023

259,051

259,051

At 30 November 2022

282,529

282,529

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

43,332

16,186

Amounts owed by related parties

226,081

87,000

Prepayments

 

47,348

54,152

Other debtors

 

-

466

   

316,761

157,804

 

Silverford Wind 2 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

(3,638)

7,076

Amounts owed to group undertakings and undertakings in which the company has a participating interest

72,288

-

Taxation and social security

 

42,251

20,714

Accruals and deferred income

 

9,238

4,224

Other creditors

 

4,547

7,000

 

124,686

39,014

7

Share capital

Allotted, called up and not fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Dividends

2023

2022

£

£

Interim dividend of £Nil (2022 - £133.28) per ordinary share

-

13,329

 

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Silverford Holdings Ltd, incorporated in Northern Ireland.