COMPANY REGISTRATION NUMBER:
09873531
Rainmaker Renewables Alpha Ltd |
|
Filleted Unaudited Abridged Financial Statements |
|
Rainmaker Renewables Alpha Ltd |
|
Abridged Statement of Financial Position |
|
29 February 2024
Fixed assets
Intangible assets |
4 |
|
549,237 |
704,710 |
|
|
|
|
|
Current assets
Debtors |
1,269 |
|
1,741 |
Cash at bank and in hand |
82,148 |
|
42,574 |
|
-------- |
|
-------- |
|
83,417 |
|
44,315 |
|
|
|
|
Creditors: amounts falling due within one year |
7,750 |
|
10,727 |
|
-------- |
|
-------- |
Net current assets |
|
75,667 |
33,588 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
624,904 |
738,298 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
1,549,314 |
1,739,314 |
|
|
------------ |
------------ |
Net liabilities |
|
(
924,410) |
(
1,001,016) |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
(
924,510) |
(
1,001,116) |
|
|
--------- |
------------ |
Shareholders deficit |
|
(
924,410) |
(
1,001,016) |
|
|
--------- |
------------ |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Rainmaker Renewables Alpha Ltd |
|
Abridged Statement of Financial Position (continued) |
|
29 February 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
Mr W L Callcott-Stevens |
Director |
|
Company registration number:
09873531
Rainmaker Renewables Alpha Ltd |
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Notes to the Abridged Financial Statements |
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Year ended 29 February 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Office 205 Albert House, 256-260 Old Street, London, EC1V 9DD.
2.
Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The company has net current liabilities at year end and is dependent on the shareholders for continued financial support. The shareholders have confirmed to the directors their intention to continue to provide funding to enable the company to meet its liabilities as they fall due to foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Solar PV assets |
- |
18 Years
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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
.
4.
Intangible assets
|
£ |
Cost |
|
At 1 March 2023 |
2,484,039 |
Disposals |
(
42,221) |
|
------------ |
At 29 February 2024 |
2,441,818 |
|
------------ |
Amortisation |
|
At 1 March 2023 |
1,779,329 |
Charge for the year |
113,252 |
|
------------ |
At 29 February 2024 |
1,892,581 |
|
------------ |
Carrying amount |
|
At 29 February 2024 |
549,237 |
|
------------ |
At 28 February 2023 |
704,710 |
|
------------ |
|
|
5.
Related party transactions
Rainmaker Energy Holdings UK Ltd has the largest shareholding in the company. There is no ultimate controlling of the company as no shareholder holds a majority interest. Amounts owed to related parties:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Rainmaker Energy Holdings Limited |
774,657 |
869,657 |
|
|
|
|