Registered number: 08464862
DEVONSHIRE RENEWABLE ENERGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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DEVONSHIRE RENEWABLE ENERGY LIMITED
REGISTERED NUMBER: 08464862
BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 March 2025.
The notes on pages 2 to 5 form part of these financial statements.
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DEVONSHIRE RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Devonshire Renewable Energy Limited is a private company limited by shares, incorporated in England and Wales (registered number: 08464862). Its registed office is the Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ. The principal activity of the company throughout the year continued to be that of the generation and sale of energy from renewable sources.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentational currency is pounds sterling.
The following principal accounting policies have been applied:
At year end date the Company’s current liabilities exceeded its current assets by £522,858 (2023: £624,424). The ability of the Company to meet its liabilities as they fall due is dependent on support from Chatsworth Settlement Trustees, who have confirmed they will provide financial support for the next 12 months if required. On this basis, the directors are confident that the Company will be able to pay its debts as they fall due and accordingly these accounts are prepared on a going concern basis.
Revenue represents amounts receivable for goods and services net of VAT and trade discounts.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:
Depreciation is provided on the following basis:
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Straight line over 25 years
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Straight line over 20 years
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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DEVONSHIRE RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0). The
directors do not have employment contracts with the company and are not paid for their role.
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Amounts owed by group undertakings
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Amounts owed by related undertakings
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Prepayments and accrued income
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DEVONSHIRE RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to related undertakings
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Other taxation and social security
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Accruals and deferred income
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The prior year adjustment in the accounts relates to Climate Change Levy (CCL) rebates which were not accounted for in previous years. These rebates were received during the current year but related to financial years 2021 to 2023.
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Related party transactions
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The Company has taken advantage of exemption, under the terms of FRS 102, not to disclose related party transactions with its parent company or with wholly owned subsidiaries within the wider group. The consolidated accounts of The Devonshire Group Limited can be obtained from The Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ.
The Company considers other organisations linked to or associated with the Duke of Devonshire to be related parties. During the year, the company made sales to these related undertakings totalling £251,012 (2023: £180,331) of which £99,873 (2023: £30,809) were receivable at the year end and included within amounts owed from related undertakings and a further amount receivable of £nil (2023: £12,614) included within prepayments. The company also made purchases with these related undertakings totalling £61,544 (2023: £120,143) of which £66,046 (2023: £7,019) were payable at the year end and included within amounts owed to related undertakings and a further amount payable of £nil (2023: £5,599) in accruals.
A cross guarantee exists between the Company and various other related entities. This provides security on the bank liabilities held within these related entities against the assets held.
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The Company's immediate parent company is The Devonshire Group Limited. The ulitmate controlling party is Chatsworth Settlement Trust which owns 100% of the issued share capital in the ultimate parent company undertaking The Devonshire Group Limited. The Company's results are consolidated in The Devonshire Group Limited. Copies of the financial statements of The Devonshire Group Limited can be obtained from The Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ.
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DEVONSHIRE RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.
The audit report was signed on 25 March 2025 by Kirstie Wilson ACA DChA (Senior Statutory Auditor) on behalf of Shorts.
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