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Registration number: 12642196

Bluefield Renewable Developments Limited

Filleted Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Bluefield Renewable Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Bluefield Renewable Developments Limited

Company Information

Directors

G Terranova

J G Selwyn

J R Armstrong

Registered office

1st Floor
25 King Street
Bristol
BS1 4PB

Registered number

12642196

Auditors

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Bluefield Renewable Developments Limited

(Registration number: 12642196)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,608

1,164

Investments

5

9,062

9,015

 

10,670

10,179

Current assets

 

Debtors

6

501,349

102,315

Cash at bank and in hand

 

155,507

14,797

 

656,856

117,112

Creditors: Amounts falling due within one year

7

(1,627,074)

(837,518)

Net current liabilities

 

(970,218)

(720,406)

Net liabilities

 

(959,548)

(710,227)

Capital and reserves

 

Called up share capital

8

1

1

Profit and loss account

(959,549)

(710,228)

Total equity

 

(959,548)

(710,227)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................

J G Selwyn
Director

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB
United Kingdom

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. The directors have considered a period of twelve months from the date of the approval of the financial statements. The company is reliant on the ongoing support of the parent company to be able to meet liabilities as they fall due. The directors of the company have received confirmation from the parent company that the parent will continue its support for a period no shorter than twelve months from the date of approval of these financial statements. Accordingly, these financial statements have been prepared on a going concern basis.

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Revenue earned from co-development and management services is recognised evenly throughout the year as the services are provided. Recharge income is recognised at the point the underlying cost has been incurred by the company.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Machinery and equipment

50% on cost

Investments

Investments are recognised initially at cost and subsequently are measured at cost less any accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost and using the effective interest method if the balance is due in more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as a liability and an expense in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company during the year, was 4 (2023 - 3).

4

Tangible fixed assets

Machinery and equipment
£

Cost

At 1 April 2023

3,567

Additions

2,385

At 31 March 2024

5,952

Depreciation

At 1 April 2023

2,403

Charge for the year

1,941

At 31 March 2024

4,344

Carrying amount

At 31 March 2024

1,608

At 31 March 2023

1,164

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Investments

2024
£

2023
£

Fixed asset investments at 1 April

9,015

24

Additions

51

8,991

Disposals

(4)

-

9,062

9,015

As at 31 March 2024 the company held an investment in the issued share capital of each of the following companies:

2024

2023

BRD Europe Limited

100%

100%

BF33C LHF Solar Limited

40%

40%

BF27 BF Solar Limited

40%

40%

BF31 WHF Solar Farm Limited

40%

40%

BF13A TF Solar Limited

40%

40%

BF16D BHF Solar Limited (Sold on 30 June 2023)

0%

40%

BF33E BHF Solar Limited

40%

40%

BF58 Hunts Airfield Solar Limited

40%

40%

BF78 GH BESS Limited (addition in year)

100%

0%

BRD BESS Limited (addition in year)

100%

0%

WSE Hartford Wood Limited (addition in year)

40%

0%

BRD Padiham Limited *

100%

0%

BRD Balderstone Limited *

100%

0%


* 100% owned indirectly by virtue of the company's ownership of BRD BESS Limited.

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Debtors: amounts falling due within one year

Note

2024
£

2023
£

Trade debtors

 

88,937

38,700

Amounts owed by subsidiaries

9

31,542

-

Amounts owed by associates

9

139,371

-

Other debtors

 

88,300

-

Taxation and social security

 

28,095

8,315

Prepayments and accrued income

 

125,104

55,300

 

501,349

102,315

7

Creditors

2024
£

2023
£

Trade creditors

86,966

34,738

Amounts owed to group undertakings

1,335,748

662,677

Other creditors

204,360

140,103

1,627,074

837,518

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

9

Related party transactions

Summary of transactions with other related parties

Two of the directors of Bluefield Renewable Developments Limited (who also have significant control of the company) are members of the key management personnel of another entity. Therefore, subsidiaries of that other entity are considered related parties of the company.

 

Bluefield Renewable Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Income and receivables from related parties

2024

Other related parties
£

Development fees / recharge of costs

2,191,111

Amounts receivable from related party

88,937

2023

Other related parties
£

Development fees / recharge of costs

698,866

Amounts receivable from related party

38,700

10

Parent and ultimate parent undertaking

The company's immediate parent is Bluefield Services Limited, incorporated in England and Wales with registered office: 1st Floor, 25 King Street, Bristol. United Kingdom, BS1 4PB. Bluefield Services Limited is the parent undertaking of the smallest group within which the company belongs and for which group financial statements are prepared.

In the opinion of the directors, there is no ultimate controlling party.
 

11

Audit report

As the profit and loss account 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 audit report was unqualified.
The senior statutory auditor who signed the audit report on 27 March 2025 was Edward Corrigan BA BFP FCA.
• The auditor was Corrigan Accountants Limited.