ORKNEY MICRO-RENEWABLES C.I.C.

Company limited by guarantee

Company Registration Number:
SC395144 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

ORKNEY MICRO-RENEWABLES C.I.C.

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ORKNEY MICRO-RENEWABLES C.I.C.

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 4,724 5,329
Tangible assets: 4 81,383 68,613
Investments: 5 75 75
Total fixed assets: 86,182 74,017
Current assets
Stocks: 6 92,276 41,475
Debtors: 7 43,610 73,331
Cash at bank and in hand: 105,702 69,880
Investments:   0 0
Total current assets: 241,588 184,686
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 8 ( 22,406 ) ( 20,921 )
Net current assets (liabilities): 219,182 163,765
Total assets less current liabilities: 305,364 237,782
Creditors: amounts falling due after more than one year: 9 ( 9,637 ) 0
Provision for liabilities: ( 13,868 ) ( 10,375 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 281,859 227,407
Members' funds
Profit and loss account: 281,859 227,407
Total members' funds: 281,859 227,407

The notes form part of these financial statements

ORKNEY MICRO-RENEWABLES C.I.C.

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 23 December 2024
and signed on behalf of the board by:

Name: Catriona Walters
Status: Director

The notes form part of these financial statements

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income and expenses are included in the financial statements as they become receivable or due

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings Freehold 2% straight line method Plant and machinery 20% reducing balance method Fixtures, fittings & equipment 20-33% reducing balance method Motor vehicles 25% reducing balance method 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 surplus or deficit.

    Intangible fixed assets amortisation policy

    Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Revenue rights 5% straight line method The company's investment in a revenue sharing agreement is valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual installments over the estimated twenty year useful economic life of the agreement.

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 May 2023 12,104 12,104
Additions 0 0
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 30 April 2024 12,104 12,104
Amortisation
At 1 May 2023 6,775 6,775
Charge for year 605 605
On disposals 0 0
Other adjustments 0 0
At 30 April 2024 7,380 7,380
Net book value
At 30 April 2024 4,724 4,724
At 30 April 2023 5,329 5,329

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 4,507 160,018 164,525
Additions 0 41,032 41,032
Disposals ( 4,507 ) ( 26,497 ) ( 31,004 )
Revaluations 0 0 0
Transfers 0 0 0
At 30 April 2024 0 174,553 174,553
Depreciation
At 1 May 2023 994 94,918 95,912
Charge for year 0 16,664 16,664
On disposals ( 994 ) ( 18,412 ) ( 19,406 )
Other adjustments
At 30 April 2024 0 93,170 93,170
Net book value
At 30 April 2024 0 81,383 81,383
At 30 April 2023 3,513 65,100 68,613

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Fixed assets investments note

Fixed asset investments not carried at market value Fixed asset investments are stated at cost less provision for any impairment.

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Stocks

2024 2023
£ £
Stocks 92,276 41,475
Total 92,276 41,475

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Debtors

2024 2023
£ £
Trade debtors 1,009 49,696
Other debtors 42,601 23,635
Total 43,610 73,331

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

8. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 3,988 2,100
Trade creditors 5,376 629
Taxation and social security 10,428 8,791
Other creditors 2,614 9,401
Total 22,406 20,921

ORKNEY MICRO-RENEWABLES C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

9. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 9,637 0
Total 9,637 0

COMMUNITY INTEREST ANNUAL REPORT

ORKNEY MICRO-RENEWABLES C.I.C.

Company Number: SC395144 (Scotland)

Year Ending: 30 April 2024

Company activities and impact

Between 1st May 2023 and 30th April 2024 Orkney Micro Renewables CIC (OMR) continued servicing Evance turbines. It was decided that our focus had to be on providing value for money servicing to allow customers to continue benefitting from the turbines. Our new procedures were successful in reducing the need for costly return visits. Those hosting turbines will have made an average saving of £500 per household on electricity costs and have a warmer house. The estimated total of CO2 reductions per household is 10 tonnes per household per annum. Our activities in this period retained 2 full time equivalent employment posts in Orkney and Scotland. We continued to use local labour and as many local suppliers as possible.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

£32,185 was paid to directors for work done for the company. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 December 2024

And signed on behalf of the board by:
Name: Catriona Walters
Status: Director