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Company Registration No. SC410291 (Scotland)
Myreton Windpower Ltd Unaudited accounts for the year ended 30 June 2024
Myreton Windpower Ltd Unaudited accounts Contents
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Myreton Windpower Ltd Company Information for the year ended 30 June 2024
Directors
Zorica Malesevic Mohammed Raza Ali
Company Number
SC410291 (Scotland)
Registered Office
272 Bath Street Glasgow G2 4JR Scotland
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Myreton Windpower Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,057,627 
1,166,209 
Current assets
Debtors
1,354,214 
1,355,477 
Cash at bank and in hand
1,441 
1,928 
1,355,655 
1,357,405 
Creditors: amounts falling due within one year
(293,736)
(28,698)
Net current assets
1,061,919 
1,328,707 
Total assets less current liabilities
2,119,546 
2,494,916 
Provisions for liabilities
Deferred tax
(222,781)
(183,000)
Net assets
1,896,765 
2,311,916 
Capital and reserves
Called up share capital
1,572,185 
1,572,185 
Share premium
2,803 
2,803 
Capital contribution reserve
139,956 
139,956 
Profit and loss account
181,821 
596,972 
Shareholders' funds
1,896,765 
2,311,916 
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. SC410291
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Myreton Windpower Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Myreton Windpower Ltd is a private company, limited by shares, registered in Scotland, registration number SC410291. 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.
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.
Tangible fixed assets
Tangible assets comprise directly attributable costs in acquiring assets including finance costs and professional fees where appropriate. Individual fixed assets costing more than £1,000 are capitalised at cost.
Depreciation
Depreciation has been provided on a systematic basis in order to write off plant and machinery over the estimated useful economic life of 20 years. The directors will also consider whether assets should be subject to an impairment review.
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised as transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Myreton Windpower Ltd Notes to the Accounts for the year ended 30 June 2024
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
Expenses
Expenses are recognised in the Income Statement on an accruals basis in the period in which they are incurred.
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Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2023
2,128,539 
At 30 June 2024
2,128,539 
Depreciation
At 1 July 2023
962,330 
Charge for the year
108,582 
At 30 June 2024
1,070,912 
Net book value
At 30 June 2024
1,057,627 
At 30 June 2023
1,166,209 
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Myreton Windpower Ltd Notes to the Accounts for the year ended 30 June 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
316 
284 
Trade debtors
159,698 
157,709 
Amounts due from group undertakings etc.
1,178,527 
1,179,610 
Other debtors
15,673 
17,874 
1,354,214 
1,355,477 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
5,744 
6,411 
Taxes and social security
277,366 
- 
Other creditors
10,626 
22,287 
293,736 
28,698 
7
Transactions with related parties
During the year the Company lent to Myreton Renewable Energy 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 £1,177,180 (2023: £1,179,610). During the year the Company lent to Wind Renewables Income Fund, a related party in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outsanding at 30 June 2024 is £1,347 (2023: an amount payable of £224). Amounts owed to group undertakings and other participating interests include intercompany management fees owed to Wind Renewables Income Fund. The management fees for the year total £24,214 (2023: £26,017) with an amount remaining payable at the year end of £5,744 (2023: £6,187). 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.
8
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.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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