Company registration number 14798427 (England and Wales)
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
$
$
Fixed assets
Investments
3
1
Current assets
Debtors
5
1
Creditors: amounts falling due within one year
6
(1)
Net current assets
-
0
Net assets
1
Capital and reserves
Called up share capital
1

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 March 2025 and are signed on its behalf by:
Viloshan Govender
Director
Company registration number 14798427 (England and Wales)
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
Share capital
Notes
$
Balance at 13 April 2023
-
0
Period ended 31 December 2023:
Profit and total comprehensive income
-
Issue of share capital
1
Balance at 31 December 2023
1
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Osprey Renewables Topco Limited (Previously known as Milele Topco Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, 1 New Burlington Place, London, England, W1S 2HR.

1.1
Reporting period

The company was incorporated on 13 April 2023. This is the first year the company is presenting its financial statements for the 9 months period ended 31 December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in United States Dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

The company has a net assets of USD 1. true

 

The financial statements have been prepared on a going concern basis. The Company relies on financial support from its parent company. The directors are of the opinion that the company is well placed to continue in business for the foreseeable future and as a result the financial statements are prepared on a going concern basis.

 

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, include payable to fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Directors
3
OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
3
Fixed asset investments
2023
$
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
$
Cost or valuation
At 13 April 2023
-
Additions
1
At 31 December 2023
1
Carrying amount
At 31 December 2023
1
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Osprey Renewables Africa Limited
England and Wales
Ordinary Shares
80.00
5
Debtors
2023
Amounts falling due within one year:
$
Amounts owed by group undertakings
1
6
Creditors: amounts falling due within one year
2023
$
Amounts owed to group undertakings
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

OSPREY RENEWABLES TOPCO LIMITED (PREVIOUSLY KNOWN AS MILELE TOPCO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
7
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
Shilpa Chheda
Statutory Auditor:
KLSA LLP
Date of audit report:
14 March 2025
8
Related party transactions
Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2023
2023
$
$
Gemcorp Fund 1
1
-
0
Osprey Renewables Africa Limited
-
0
1
9
Parent company

In the opinion of the directors, the ultimate controlling party is the Gemcorp Fund 1.

 

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