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Company Registration No. SC506671 (Scotland)
Skellyton Energy Ltd Unaudited accounts for the year ended 30 June 2024
Skellyton Energy Ltd Unaudited accounts Contents
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Skellyton Energy Ltd Company Information for the year ended 30 June 2024
Directors
Zorica Malesevic Mohammed Raza Ali
Company Number
SC506671 (Scotland)
Registered Office
272 Bath Street Glasgow G2 4JR Scotland
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Skellyton Energy Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
566,296 
566,296 
Current assets
Debtors
916,302 
916,398 
Cash at bank and in hand
15 
7 
916,317 
916,405 
Net current assets
916,317 
916,405 
Net assets
1,482,613 
1,482,701 
Capital and reserves
Called up share capital
1,416,603 
1,416,603 
Share premium
64,386 
64,386 
Profit and loss account
1,624 
1,712 
Shareholders' funds
1,482,613 
1,482,701 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by
Zorica Malesevic Director Company Registration No. SC506671
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Skellyton Energy Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Skellyton Energy Ltd is a private company, limited by shares, registered in Scotland, registration number SC506671. The registered office is 272 Bath Street, Glasgow, G2 4JR, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on a going concern basis as the Directors believe there will be sufficient cash to continue operations for the foreseeable future. The financial statements contain information about Skellyton Energy Limited as an individual company and do not contain consolidated financial information as the parent of a group. The Company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the generation of electricity. Turnover from the generation of electricity is recognised when the electricity generated has been exported to the grid.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less impairment.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities, other future taxable profits or by way of group relief. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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Skellyton Energy Ltd Notes to the Accounts for the year ended 30 June 2024
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Expenses
Expenses are recognised in the Income Statement on an accruals basis in the period in which they are incurred.
4
Investments
Subsidiary undertakings 
£ 
Valuation at 1 July 2023
566,296 
Valuation at 30 June 2024
566,296 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
8 
8 
Trade debtors
- 
48 
Amounts due from group undertakings etc.
916,294 
916,342 
916,302 
916,398 
6
Transactions with related parties
During the year the Company lent to ILI (Skellyton) Ltd, a related party, in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2024 is £851,908 (2023: £851,956). During the year the Company lent to Wind Renewables Income Holdco Ltd, a related party, in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2024 is £64,386 (2023: £64,386). No adjustment has been made to reflect the value of any interest free loans at present value as, in the opinion of the Directors, this would not have any material affect on the financial statements.
7
Controlling party
The controlling party is Wind Renewables Income Holdco Limited. The ultimate controlling party of the Company is Wind Renewables Income Fund. The directors do not have an interest in the share capital of the Company.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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