Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC451565 2023-06-01 2024-05-31 SC451565 2022-06-01 2023-05-31 SC451565 2024-05-31 SC451565 2023-05-31 SC451565 c:Director1 2023-06-01 2024-05-31 SC451565 c:Director2 2023-06-01 2024-05-31 SC451565 c:Director3 2023-06-01 2024-05-31 SC451565 c:Director4 2023-06-01 2024-05-31 SC451565 c:RegisteredOffice 2023-06-01 2024-05-31 SC451565 d:Buildings 2023-06-01 2024-05-31 SC451565 d:Buildings 2024-05-31 SC451565 d:Buildings 2023-05-31 SC451565 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC451565 d:PlantMachinery 2023-06-01 2024-05-31 SC451565 d:PlantMachinery 2024-05-31 SC451565 d:PlantMachinery 2023-05-31 SC451565 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC451565 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC451565 d:CurrentFinancialInstruments 2024-05-31 SC451565 d:CurrentFinancialInstruments 2023-05-31 SC451565 d:Non-currentFinancialInstruments 2024-05-31 SC451565 d:Non-currentFinancialInstruments 2023-05-31 SC451565 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC451565 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC451565 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 SC451565 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC451565 d:ShareCapital 2024-05-31 SC451565 d:ShareCapital 2023-05-31 SC451565 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC451565 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC451565 c:OrdinaryShareClass1 2023-06-01 2024-05-31 SC451565 c:OrdinaryShareClass1 2024-05-31 SC451565 c:OrdinaryShareClass1 2023-05-31 SC451565 c:OrdinaryShareClass2 2023-06-01 2024-05-31 SC451565 c:OrdinaryShareClass2 2024-05-31 SC451565 c:OrdinaryShareClass2 2023-05-31 SC451565 c:OrdinaryShareClass3 2023-06-01 2024-05-31 SC451565 c:OrdinaryShareClass3 2024-05-31 SC451565 c:OrdinaryShareClass3 2023-05-31 SC451565 c:OrdinaryShareClass4 2023-06-01 2024-05-31 SC451565 c:OrdinaryShareClass4 2024-05-31 SC451565 c:OrdinaryShareClass4 2023-05-31 SC451565 c:FRS102 2023-06-01 2024-05-31 SC451565 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC451565 c:FullAccounts 2023-06-01 2024-05-31 SC451565 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC451565 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC451565










W & G RENEWABLES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
W & G RENEWABLES LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mrs S Green 
W Strachan 
Mrs G Strachan 
K Strachan 




REGISTERED NUMBER
SC451565



REGISTERED OFFICE
Mill of Balmaud Farm
King Edward

Banff

Aberdeenshire

AB45 3PN




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
W & G RENEWABLES LIMITED
REGISTERED NUMBER: SC451565

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,634,234
2,975,140

Investments
 5 
100
100

  
3,634,334
2,975,240

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
3,770,837
1,777,109

Cash at bank and in hand
  
868,969
703,570

  
4,639,806
2,480,679

Creditors: amounts falling due within one year
 7 
(635,176)
(736,537)

NET CURRENT ASSETS
  
 
 
4,004,630
 
 
1,744,142

TOTAL ASSETS LESS CURRENT LIABILITIES
  
7,638,964
4,719,382

Creditors: amounts falling due after more than one year
  
(629,113)
(1,205,333)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(908,559)
(518,307)

  
 
 
(908,559)
 
 
(518,307)

NET ASSETS
  
6,101,292
2,995,742


CAPITAL AND RESERVES
  

Called up share capital 
  
300
300

Profit and loss account
  
6,100,992
2,995,442

  
6,101,292
2,995,742


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 year 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 income and retained earnings 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 on 27 February 2025.

Page 1

 
W & G RENEWABLES LIMITED
REGISTERED NUMBER: SC451565

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024


W Strachan
Director

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

Page 2

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

W & G Renewables Limited is a private company, limited by shares, incorporated in Scotland with registration number SC451565. The registered office is Mill of Balmaud Farm, King Edward, Banff, Aberdeenshire, AB45 3PN.                              The Company's functional and presentational currency is GBP. 

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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows..

Depreciation is provided on the following basis:

Wind turbines
-
5%
straight line
Plant and machinery
-
20%
reducing balance

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 profit or loss.

Page 4

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


TANGIBLE FIXED ASSETS





Wind turbines
Plant and machinery
Total

£
£
£



COST OR VALUATION


At 1 June 2023
4,913,097
207,539
5,120,636


Additions
737,388
296,911
1,034,299



At 31 May 2024

5,650,485
504,450
6,154,935



DEPRECIATION


At 1 June 2023
2,104,450
41,046
2,145,496


Charge for the year on owned assets
282,524
92,681
375,205



At 31 May 2024

2,386,974
133,727
2,520,701



NET BOOK VALUE



At 31 May 2024
3,263,511
370,723
3,634,234



At 31 May 2023
2,808,647
166,493
2,975,140


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 June 2023
100



At 31 May 2024
100






NET BOOK VALUE



At 31 May 2024
100



At 31 May 2023
100

Page 6

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
125,896
443,032

Amounts owed by group undertakings
2,076,834
832,338

Other debtors
1,568,107
501,739

3,770,837
1,777,109



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
-
22,006

Bank loans
569,757
557,152

Net obligations under finance lease and hire purchase contracts
54,100
6,500

Other creditors
11,319
150,879

635,176
736,537


Bank loans are secured by a floating charge over all assets of the compay.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
592,222
1,205,333

Net obligations under finance leases and hire purchase contracts
36,891
-

629,113
1,205,333


Bank loans are secured by a floating charge over all assets of the compay.

Page 7

 
W & G RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary A shares of £1.00 each
100
100
100 (2023 - 100) Ordinary B shares of £1.00 each
100
100
50 (2023 - 50) Ordinary C shares of £1.00 each
50
50
50 (2023 - 50) Ordinary D shares of £1.00 each
50
50

300

300



Page 8