Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-31146136742024-01-31false0false0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-24true 14613674 2023-01-23 14613674 2023-01-24 2024-01-31 14613674 2022-02-01 2023-01-23 14613674 2024-01-31 14613674 1 2023-01-24 2024-01-31 14613674 d:Director3 2023-01-24 2024-01-31 14613674 c:OfficeEquipment 2023-01-24 2024-01-31 14613674 c:OfficeEquipment 2024-01-31 14613674 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-24 2024-01-31 14613674 c:CurrentFinancialInstruments 2024-01-31 14613674 c:Non-currentFinancialInstruments 2024-01-31 14613674 c:CurrentFinancialInstruments c:WithinOneYear 2024-01-31 14613674 c:Non-currentFinancialInstruments c:AfterOneYear 2024-01-31 14613674 c:ShareCapital 2024-01-31 14613674 c:RetainedEarningsAccumulatedLosses 2024-01-31 14613674 d:OrdinaryShareClass1 2023-01-24 2024-01-31 14613674 d:OrdinaryShareClass1 2024-01-31 14613674 d:FRS102 2023-01-24 2024-01-31 14613674 d:AuditExempt-NoAccountantsReport 2023-01-24 2024-01-31 14613674 d:FullAccounts 2023-01-24 2024-01-31 14613674 d:PrivateLimitedCompanyLtd 2023-01-24 2024-01-31 14613674 2 2023-01-24 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure



















Candour Solar Propco Limited

Registered number: 14613674
Information for filing with Registrar
For the period ended 31 January 2024

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
REGISTERED NUMBER: 14613674

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
Note
£

Fixed assets
  

Tangible fixed assets
 4 
88,170

  
88,170

Current assets
  

Stocks
 5 
4,034,408

Debtors: amounts falling due within one year
 6 
206,746

Cash at bank
  
177,759

  
4,418,913

Creditors: amounts falling due within one year
 7 
(786,628)

Net current assets
  
 
 
3,632,285

Total assets less current liabilities
  
3,720,455

Creditors: amounts falling due after more than one year
 8 
(38,000)

  

Net assets
  
3,682,455


Capital and reserves
  

Called up share capital 
 9 
4,112,000

Profit and loss account
  
(429,545)

Total equity
  
3,682,455


- 1 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
REGISTERED NUMBER: 14613674
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



C R Kirkland
Director
Date: 24 February 2025

The notes on pages 3 to 8 form part of these financial statements.
- 2 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Candour Solar Propco Limited is a private company limited by shares, incorporated in England and Wales. The registered number of the Company is 14613674. The address of its registered office is 35 Portman Square, London, W1H 6LR.
The principal activity of the Company during the period was real estate development. 
The Company was incorporated on 24 January 2023. The financial statements are for the first financial period ended 31 January 2024. Therefore the results covered are for less than twelve months.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements have been prepared in Pound Sterling as this is the currency of the primary economic environment which the Company operates and is rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed the Company's ability to continue as a going concern and have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of signing these financial statements. In doing this, they have considered the results for the period, expectations of future trading and the availability of continued funding. On the basis of this information the directors are satisfied that the Company will continue as a going concern and so the financial statements have been prepared on this basis.

 
2.3

Turnover

Turnover is measured at the fair value of consideration received from the sale of services from the Company's ordinary business activities. Turnover comprises gross income net of VAT including rents receivable and service charges and is recognised when the amount of revenue can be reliably measured and it is probable that the economic benefits associated with the transaction will be received by the Company. Turnover arose in the UK and is attributable to the one principal activity of renting out real estate assets. Where applicable, lease incentives and initial costs to arrange leases are amortised on straight-line basis over the full lease term as determined by FRS 102.

 
2.4

Interest receivable and similar income

Interest receivable and similar income is recognised in the Statement of Comprehensive Income using the effective interest method.

- 3 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Comprehensive Income.
Tangible fixed assets depreciation is recorded in 'administrative expenses' in the Statement of Comprehensive Income.

 
2.6

Stocks

Stocks comprise land and property in the course of development and land upon which development has commenced. These are valued at the lower of cost and estimated selling price less cost to sell, which is equivalent to the net realisable value. Cost includes the cost of acquiring land and development expenditure to date.
In considering the net realisable value of development sites it is assumed that the sites will be fully developed and the completed units sold in the ordinary course of the Company's business, and that the sites would not be placed on the market for immediate sale in their existing state. 

At each reporting date, the land is assessed for impairment. If the asset is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Statement of Comprehensive Income. An impairment loss recognised in prior years is reversed when it no longer exists or has decreased. 

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

- 4 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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 in value.

 
2.9

Creditors

Short-term creditors 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.

 
2.10

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
 
Financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

- 5 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

3.


Employees

There were no  employees during the period other than the directors of the Company who did not receive any remuneration.
Directors were the only key management personnel of the Company.


4.


Tangible fixed assets





Office equipment

£



Cost


Additions
94,698



At 31 January 2024

94,698



Depreciation


Charge for the period
6,528



At 31 January 2024

6,528



Net book value



At 31 January 2024
88,170

The Company does not hold tangible fixed assets under finance leases.


5.


Stocks

2024
£

Land and property held for development
4,034,408


Stock is stated after provisions for impairment of £nil.

- 6 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

6.


Debtors: amounts falling due within one year

2024
£

Other debtors
189,318

Prepayments and accrued income
17,428

206,746


Included within other debtors is £97,485 in respect of VAT recoverable.


7.


Creditors: amounts falling due within one year

2024
£

Trade creditors
67,339

Other creditors
666,000

Accruals and deferred income
53,289

786,628


Included within other creditors is £666,000 in respect of amounts owed to the shareholders of the Company. These amounts are unsecured, interest-free, and payable on demand.


8.


Creditors: Amounts falling due after more than one year

2024
£

Other creditors
38,000


Included within other creditors is £38,000 in respect of deposits received from tenants.

- 7 -

 
 14613674
31 January 2024
CANDOUR SOLAR PROPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

9.


Called up share capital

2024
£
Allotted, called up and unpaid


4,112,000 ordinary shares shares of £1.00 each
4,112,000


On 24 January 2023, 4,500,000 ordinary shares were issued at par. Each share has attached to it full voting, dividend and capital distribution rights.
On 27 January 2023, the directors made the decision to reduce the issued share capital of the Company by cancelling and extinguishing 850,000 of the issued ordinary shares of £1 each in the Company.
On 27 January 2023, 849,999 ordinary shares were issued at par. The registered changes on 27 January 2023 relate to a reallocation of shares between directors following a clerical error.
Post year end it was identified that the documents filed on the 27 January 2023 were incorrect. Filings have since been made to represent the correct number of ordinary shares which were in issue since incorporation and reflect the subscribed capital by the shareholders. 


10.


Related party transactions

At the period end, the Company owes £666,000 to the shareholders of the Company. The amounts are interest-free and payable on demand. The directors consider that there are no further related party transactions that require disclosure. 


11.


Post balance sheet events

There have been no significant events affecting the Company since the period end.


12.


Controlling party

The directors do not consider there to be an ultimate controlling party of the Company.

- 8 -