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Company Registration No. 08697931 (England and Wales)
Argestes Wind Limited Unaudited accounts for the year ended 30 June 2024
Argestes Wind Limited Unaudited accounts Contents
Page
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Argestes Wind Limited Company Information for the year ended 30 June 2024
Directors
Zorica Malesevic Mohammed Raza Ali
Company Number
08697931 (England and Wales)
Registered Office
6th Floor 338 Euston Road London NW1 3BG England
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Argestes Wind Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
147,612 
191,494 
Current assets
Debtors
865,572 
567,483 
Cash at bank and in hand
263,275 
128,141 
1,128,847 
695,624 
Creditors: amounts falling due within one year
(198,199)
(176,427)
Net current assets
930,648 
519,197 
Net assets
1,078,260 
710,691 
Capital and reserves
Called up share capital
14,574 
14,574 
Share premium
1,018,197 
1,018,197 
Profit and loss account
45,489 
(322,080)
Shareholders' funds
1,078,260 
710,691 
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 17 March 2025 and were signed on its behalf by
Mohammed Raza Ali Director Company Registration No. 08697931
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Argestes Wind Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Argestes Wind Limited is a private company, limited by shares, registered in England and Wales, registration number 08697931. The registered office is 6th Floor 338 Euston Road, London, NW1 3BG, England.
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.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
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 is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis: Plant and equipment - Straight line to planning date Software - Straight line to planning date
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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Argestes Wind Limited 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.
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 Statement of Comprehensive Income on an accruals basis in the period in which they are incurred.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2023
12,754 
At 30 June 2024
12,754 
Amortisation
At 1 July 2023
12,754 
At 30 June 2024
12,754 
Net book value
At 30 June 2024
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2023
1,534,280 
Additions
9,115 
At 30 June 2024
1,543,395 
Depreciation
At 1 July 2023
1,342,786 
Charge for the year
52,997 
At 30 June 2024
1,395,783 
Net book value
At 30 June 2024
147,612 
At 30 June 2023
191,494 
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Argestes Wind Limited Notes to the Accounts for the year ended 30 June 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,758 
12,660 
Amounts due from group undertakings etc.
675,579 
412,085 
Deferred tax asset
6,871 
4,187 
Accrued income and prepayments
180,364 
138,551 
865,572 
567,483 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
10,800 
- 
Amounts owed to group undertakings and other participating interests
34,540 
147,978 
Taxes and social security
140,337 
- 
Accruals
12,522 
28,449 
198,199 
176,427 
8
Transactions with related parties
The Company lent to WRIF Holdco C 2 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 £636,641 (2023: £412,085). 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 outstanding at 30 June 2024 is £38,938 (2023: an amount payable of £253) The Company borrowed from Aeolus Wind 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 £30,341 (2023: £143,234). The Company borrowed from Cumbria Wind 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 £86 (2023: £86). 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 £17,304 (2023: £10,724) with a total remaining payable at the year end of £4,113 (2023: £4,405). 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.
9
Controlling party
The controlling party is WRIF Holdco C 2 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.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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