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COMPANY REGISTRATION NUMBER: 04934193
Renewables Direct Ltd
Filleted Unaudited Financial Statements
30 June 2024
Renewables Direct Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Debtors
4
360,340
360,340
Creditors: amounts falling due within one year
5
6,628,809
6,628,809
------------
------------
Net current liabilities
6,268,469
6,268,469
------------
------------
Total assets less current liabilities
( 6,268,469)
( 6,268,469)
------------
------------
Net liabilities
( 6,268,469)
( 6,268,469)
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 6,269,469)
( 6,269,469)
------------
------------
Shareholder deficit
( 6,268,469)
( 6,268,469)
------------
------------
These 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 statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
Dr E Cameron
Director
Company registration number: 04934193
Renewables Direct Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Shirleys, Ditchling, Hassocks, BN6 8UD, England.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's ultimate holding company (Wind Prospect Group Limited) entered into a voluntary arrangement (CVA) in June 2017. The company is dormant with its main debtors and creditors being balances with other group undertakings. The fulfilment of all obligations will be through the realisation of income from group development assets. The CVA concludes that all creditors will receive all monies due once sufficient of the assets have been realised and therefore the directors conclude that it is is appropriate to prepare these accounts under the going concern principle.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholder deficit during the current year or prior year.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
360,340
360,340
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
6,607,094
6,607,094
Social security and other taxes
20,965
20,965
Other creditors
750
750
------------
------------
6,628,809
6,628,809
------------
------------
The amounts owed to other group companies are repayable on demand. However, the directors do not expect that such a demand will be made.
6. Controlling party
The immediate parent company is Wind Prospect Enterprises Limited. The ultimate controlling company is Wind Prospect Group Limited, a company incorporated in England and Wales.