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REGISTERED NUMBER: SC171876 (Scotland)















Financial Statements for the Year Ended 30 April 2024

for

Boulfruich Wind Farm Limited

Boulfruich Wind Farm Limited (Registered number: SC171876)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Boulfruich Wind Farm Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Hall
Mrs K Hall
M Hall



SECRETARY: Mrs K Hall



REGISTERED OFFICE: Boulfruich
Houstry
Dunbeath
Caithness
KW6 6EN



REGISTERED NUMBER: SC171876 (Scotland)



ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ



BANKERS: The Royal Bank of Scotland plc
Olrig Street
Thurso
Caithness
KW14 7BL



SOLICITORS: South Forrest
8 Ardross Street
Inverness
IV3 5NW

Boulfruich Wind Farm Limited (Registered number: SC171876)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,314,378 3,721,272

CURRENT ASSETS
Debtors 5 9,860,936 9,023,499
Cash at bank 3,907,764 4,184,094
13,768,700 13,207,593
CREDITORS
Amounts falling due within one year 6 (413,994 ) (389,166 )
NET CURRENT ASSETS 13,354,706 12,818,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,669,084

16,539,699

CREDITORS
Amounts falling due after more than one year 7 (23,330 ) (43,310 )

PROVISIONS FOR LIABILITIES 9 (643,098 ) (570,924 )
NET ASSETS 16,002,656 15,925,465

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 16,001,656 15,924,465
SHAREHOLDERS' FUNDS 16,002,656 15,925,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Boulfruich Wind Farm Limited (Registered number: SC171876)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





M Hall - Director


Boulfruich Wind Farm Limited (Registered number: SC171876)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Boulfruich Wind Farm Limited is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover represents net invoiced sales of electricity generated from renewables, excluding value added tax.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially recorded at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the lease term, whichever is shorter.

Leasehold property4% straight line
Office equipment25% reducing balance
Plant20% reducing balance
Motor vehicles25% reducing balance
Wind farm development4% straight line

Freehold property is not depreciated. The directors maintain the property in such a condition that the value is not impaired by the passage of time. Consequently, any element of depreciation would, in the opinion of the directors, be immaterial.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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 or other future taxable profits.

Boulfruich Wind Farm Limited (Registered number: SC171876)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FINANCE COSTS
Finance costs which are directly attributable to the construction of tangible fixed assets are capitalised as part of the cost of those assets. The commencement of capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to make the asset ready for use are complete.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 292,743 455,227 847,708
Additions - 29,766 20,376
Disposals - - (11,015 )
At 30 April 2024 292,743 484,993 857,069
DEPRECIATION
At 1 May 2023 - 141,284 412,548
Charge for year - 19,400 81,333
Eliminated on disposal - - (7,923 )
At 30 April 2024 - 160,684 485,958
NET BOOK VALUE
At 30 April 2024 292,743 324,309 371,111
At 30 April 2023 292,743 313,943 435,160

Boulfruich Wind Farm Limited (Registered number: SC171876)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Office Motor Windfarm
equipment vehicles development Totals
£    £    £    £   
COST
At 1 May 2023 35,832 98,839 8,532,125 10,262,474
Additions 2,665 - - 52,807
Disposals - - - (11,015 )
At 30 April 2024 38,497 98,839 8,532,125 10,304,266
DEPRECIATION
At 1 May 2023 30,557 39,492 5,917,320 6,541,201
Charge for year 1,985 14,836 339,056 456,610
Eliminated on disposal - - - (7,923 )
At 30 April 2024 32,542 54,328 6,256,376 6,989,888
NET BOOK VALUE
At 30 April 2024 5,955 44,511 2,275,749 3,314,378
At 30 April 2023 5,275 59,347 2,614,805 3,721,273

Included in the cost of wind farm development is £64,105 in respect of capitalised finance costs.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 156,140
Transfer to ownership (9,240 )
At 30 April 2024 146,900
DEPRECIATION
At 1 May 2023 76,196
Charge for year 15,043
Transfer to ownership (4,509 )
At 30 April 2024 86,730
NET BOOK VALUE
At 30 April 2024 60,170
At 30 April 2023 79,944

Boulfruich Wind Farm Limited (Registered number: SC171876)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,580,020 1,471,315
Other debtors 1,777,806 1,650,397
Amounts owed by associated
undertaking 6,458,926 5,863,011
Prepayments and accrued income 44,184 38,776
9,860,936 9,023,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 14,503
Other loans - 12,780
Hire purchase contracts 19,980 20,673
Trade creditors 32,401 36,988
Other creditors 361,613 304,222
413,994 389,166

Other creditors includes £340,819 (2023 - £297,676) in respect of taxation and social security.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 23,330 43,310

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 14,503

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 643,098 570,924

Boulfruich Wind Farm Limited (Registered number: SC171876)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 570,924
Credit to Income Statement during year (89,231 )
Effect of rate change 161,405
Balance at 30 April 2024 643,098

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
A Hall
Balance outstanding at start of year 846,523 872,176
Amounts repaid (1,148 ) (25,653 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 845,375 846,523

Mrs K Hall
Balance outstanding at start of year 76,132 101,785
Amounts repaid (3,491 ) (25,653 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,641 76,132

M Hall
Balance outstanding at start of year 323,884 215,827
Amounts advanced 94,758 108,057
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 418,642 323,884

The above represents a summary of transactions undertaken with the directors.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the three directors who together own 100% of the issued share capital.