IRIS Accounts Production v24.3.2.46 NI619270 Board of Directors 1.7.23 31.3.24 31.3.24 false true false false true false Ordinary Shares 1.00000 Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6192702023-06-30NI6192702024-03-31NI6192702023-07-012024-03-31NI6192702022-06-30NI6192702022-07-012023-06-30NI6192702023-06-30NI619270ns15:NorthernIreland2023-07-012024-03-31NI619270ns14:PoundSterling2023-07-012024-03-31NI619270ns10:Director12023-07-012024-03-31NI619270ns10:PrivateLimitedCompanyLtd2023-07-012024-03-31NI619270ns10:SmallEntities2023-07-012024-03-31NI619270ns10:AuditExempt-NoAccountantsReport2023-07-012024-03-31NI619270ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-03-31NI619270ns10:SmallCompaniesRegimeForAccounts2023-07-012024-03-31NI619270ns10:FullAccounts2023-07-012024-03-31NI619270ns10:OrdinaryShareClass12023-07-012024-03-31NI619270ns10:Director22023-07-012024-03-31NI619270ns10:Director32023-07-012024-03-31NI619270ns10:Director42023-07-012024-03-31NI619270ns10:RegisteredOffice2023-07-012024-03-31NI619270ns5:CurrentFinancialInstruments2024-03-31NI619270ns5:CurrentFinancialInstruments2023-06-30NI619270ns5:Non-currentFinancialInstruments2024-03-31NI619270ns5:Non-currentFinancialInstruments2023-06-30NI619270ns5:ShareCapital2024-03-31NI619270ns5:ShareCapital2023-06-30NI619270ns5:RetainedEarningsAccumulatedLosses2024-03-31NI619270ns5:RetainedEarningsAccumulatedLosses2023-06-30NI61927012023-07-012024-03-31NI619270ns5:PlantMachinery2023-07-012024-03-31NI619270ns5:FurnitureFittings2023-07-012024-03-31NI619270ns5:MotorVehicles2023-07-012024-03-31NI619270ns5:PlantMachinery2023-06-30NI619270ns5:FurnitureFittings2023-06-30NI619270ns5:MotorVehicles2023-06-30NI619270ns5:PlantMachinery2024-03-31NI619270ns5:FurnitureFittings2024-03-31NI619270ns5:MotorVehicles2024-03-31NI619270ns5:PlantMachinery2023-06-30NI619270ns5:FurnitureFittings2023-06-30NI619270ns5:MotorVehicles2023-06-30NI619270ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31NI619270ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30NI619270ns5:DeferredTaxation2023-06-30NI619270ns5:DeferredTaxation2023-07-012024-03-31NI619270ns5:DeferredTaxation2024-03-31NI619270ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: NI619270 (Northern Ireland)













Springwell Renewables Ltd

Unaudited Financial Statements

for the Period 1 July 2023 to 31 March 2024






Springwell Renewables Ltd (Registered number: NI619270)

Contents of the Financial Statements
for the Period 1 July 2023 to 31 March 2024










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 6


Springwell Renewables Ltd

Company Information
for the Period 1 July 2023 to 31 March 2024







Directors: Mr P Wylie
Mr N Wylie
Mrs M Wylie
Mr J Wylie





Registered office: 86 Drumflugh Road
Dungannon
Co Tyrone
BT71 7QF





Registered number: NI619270 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Springwell Renewables Ltd (Registered number: NI619270)

Statement of Financial Position
31 March 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 4 2,218,332 2,238,606

Current assets
Receivables 5 326,873 399,011
Cash at bank 59,763 42,437
386,636 441,448
Payables
Amounts falling due within one year 6 (664,023 ) (917,260 )
Net current liabilities (277,387 ) (475,812 )
Total assets less current liabilities 1,940,945 1,762,794

Payables
Amounts falling due after more than one
year

7

(104,895

)

(157,245

)

Provisions for liabilities 8 (554,582 ) (559,650 )

Accruals and deferred income 9 (58,557 ) (65,063 )
Net assets 1,222,911 980,836

Capital and reserves
Called up share capital 10 5 5
Retained earnings 1,222,906 980,831
Shareholders' funds 1,222,911 980,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

Springwell Renewables Ltd (Registered number: NI619270)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2024 and were signed on its behalf by:





Mr N Wylie - Director


Springwell Renewables Ltd (Registered number: NI619270)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 March 2024


1. Statutory information

Springwell Renewables Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the director's opinion there are no accounting policies which require estimations or uncertainties included within the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
AD Plant - 4% on cost
Wind Turbine - 10% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities.

Receivables
Short term receivables are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.

Springwell Renewables Ltd (Registered number: NI619270)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 March 2024


2. Accounting policies - continued

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. Employees and directors

The average number of employees during the period was 4 (2023 - 4 ) .

4. Property, plant and equipment
Plant and Wind
machinery AD Plant Turbine Totals
£ £ £ £
Cost
At 1 July 2023 468,170 2,675,992 284,934 3,429,096
Additions - 125,800 - 125,800
At 31 March 2024 468,170 2,801,792 284,934 3,554,896
Depreciation
At 1 July 2023 92,437 870,106 227,947 1,190,490
Charge for period 42,270 82,434 21,370 146,074
At 31 March 2024 134,707 952,540 249,317 1,336,564
Net book value
At 31 March 2024 333,463 1,849,252 35,617 2,218,332
At 30 June 2023 375,733 1,805,886 56,987 2,238,606

5. Receivables: amounts falling due within one year
2024 2023
£ £
Trade receivables 296,548 356,751
Other debtors 30,325 42,260
326,873 399,011

6. Payables: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,204 10,015
Hire purchase contracts 61,050 61,050
Trade creditors 261,105 165,772
Taxation and social security 87,496 15,663
Other payables 244,168 664,760
664,023 917,260

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 12,179 19,908
Hire purchase contracts 92,716 137,337
104,895 157,245

Springwell Renewables Ltd (Registered number: NI619270)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 March 2024


8. Provisions for liabilities
2024 2023
£ £
Deferred tax 554,582 559,650

Deferred tax
£
Balance at 1 July 2023 559,650
Credit to Statement of income and retained earnings during period (5,068 )
Balance at 31 March 2024 554,582

9. Accruals and deferred income


Deferred
income
£   
Balance at 1 July 2022 65,063
Credit to Income statement during year (6,506 )
Balance at 30 June 2023 58,557

10. Called up share capital

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £ £
5 Share capital 1 5 5

11. Directors' advances, credits and guarantees

Included within the other payables is an amount of £229,168 (2023: £654,760) owing to the directors. The loan is interest free and repayable on demand.