COMPANY REGISTRATION NUMBER:
14847053
ONE EARTH 740 SPV LIMITED |
|
FILLETED FINANCIAL STATEMENTS |
|
ONE EARTH 740 SPV LIMITED |
|
30 April 2024
Fixed assets
Current assets
Debtors |
6 |
1,300,200 |
|
Cash at bank and in hand |
1,419,405 |
|
|
----------- |
|
|
2,719,605 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
2,726,605) |
|
|
----------- |
|
Net current liabilities |
|
(
7,000) |
|
|
------ |
Total assets less current liabilities |
|
(
6,998) |
|
|
------ |
Net liabilities |
|
(
6,998) |
|
|
------ |
|
|
|
|
Capital and reserves
Called up share capital |
8 |
|
102 |
Profit and loss account |
|
(
7,100) |
|
|
------ |
Shareholders deficit |
|
(
6,998) |
|
|
------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
13 January 2025
, and are signed on behalf of the board by:
J L Gandia Fornes |
Director |
|
Company registration number:
14847053
ONE EARTH 740 SPV LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 4 MAY 2023 TO 30 APRIL 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, with the support of the parent company which has indicated its willingness to provide financial support as would necessary for the company to meet its obligations as they fall due in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Basic financial assets, which include other receivables and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include other payables and loans from fellow group companies and other related entities, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
4
.
5.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 4 May 2023 |
– |
Additions |
2 |
|
---- |
At 30 April 2024 |
2 |
|
---- |
Impairment |
|
At 4 May 2023 and 30 April 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 30 April 2024 |
2 |
|
---- |
|
|
6.
Debtors
|
30 Apr 24 |
|
£ |
Amounts owed by group undertakings |
1,300,000 |
Other debtors |
200 |
|
----------- |
|
1,300,200 |
|
----------- |
|
|
7.
Creditors:
amounts falling due within one year
|
30 Apr 24 |
|
£ |
Amounts owed to group undertakings |
280 |
Accruals and deferred income |
6,000 |
Amounts owed to other related entities |
2,720,325 |
|
----------- |
|
2,726,605 |
|
----------- |
|
|
8.
Called up share capital
Issued, called up and fully paid
|
30 Apr 24 |
|
No. |
£ |
Ordinary shares of £ 0.01 each |
10,200 |
102 |
|
------- |
---- |
|
|
|
9.
Summary audit opinion
The auditor's report dated
13 January 2025
was
unqualified
.
The senior statutory auditor was
W J E Kerr
, for and on behalf of
Xeinadin Audit Limited
.
10.
Controlling party
The immediate parent company is Padero Solaer Ltd, a company incorporated in England and Wales. Up to 7 November 2023 the ultimate parent company was Sumando Ltd, a company incorporated in England and Wales. From 8 November 2023 the ultimate parent company was Sumando Acciones SL, a company incorporated in Spain. The smallest and largest group to prepare consolidated financial statements which include One Earth 740 SPV Ltd is Sumando Ltd. The address of the registered office for Sumando Ltd is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks HP18 0RA. The consolidated financial statements for Sumando Ltd can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. The ultimate controlling parties are Cecu Solar SL and Los Leandros Solares SL, both companies are incorporated in Spain and have equal control.