Registration number:
Bluefield Renewable Developments Limited
for the Year Ended 31 March 2024
Pages for filing with Registrar
Bluefield Renewable Developments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Bluefield Renewable Developments Limited
Company Information
Directors |
G Terranova J G Selwyn J R Armstrong |
Registered office |
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Registered number |
12642196 |
Auditors |
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Bluefield Renewable Developments Limited
(Registration number: 12642196)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Profit and loss account |
(959,549) |
(710,228) |
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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
.........................................
Director
Bluefield Renewable Developments Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible fixed assets |
Machinery and equipment |
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Cost |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Bluefield Renewable Developments Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Investments |
2024 |
2023 |
|
Fixed asset investments at 1 April |
9,015 |
24 |
Additions |
51 |
8,991 |
Disposals |
(4) |
- |
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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
Debtors: amounts falling due within one year |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by subsidiaries |
31,542 |
- |
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Amounts owed by associates |
139,371 |
- |
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Other debtors |
88,300 |
- |
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Taxation and social security |
28,095 |
8,315 |
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Prepayments and accrued income |
125,104 |
55,300 |
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Creditors |
2024 |
2023 |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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 |
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Amounts receivable from related party |
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2023 |
Other related parties |
Development fees / recharge of costs |
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Amounts receivable from related party |
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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.
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:
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• The auditor was