Company Registration No. 14979935 (England and Wales)
SEDGWICK SOLAR 5 LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SEDGWICK SOLAR 5 LIMITED
COMPANY INFORMATION
Directors
Mr N R Kamath
(Appointed 4 July 2023)
Mr R L Simmonds
(Appointed 4 July 2023)
Company number
14979935
Registered office
Unit 1350-1360 Montpellier Court
Brockworth
Gloucester
United Kingdom
GL3 4AH
Auditor
Johnston Carmichael LLP
7-11 Melville Street
Edinburgh
EH3 7PE
SEDGWICK SOLAR 5 LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
SEDGWICK SOLAR 5 LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements from incorporation on 4 July 2023 for the period ended 31 December 2024.

Principal activities

The principal activity of the company is that of a holding company.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr N R Kamath
(Appointed 4 July 2023)
Mr R L Simmonds
(Appointed 4 July 2023)
Auditor

The auditor, Johnston Carmichael LLP, deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr N R Kamath
Director
3 April 2025
SEDGWICK SOLAR 5 LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SEDGWICK SOLAR 5 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
Notes
£
£
Fixed assets
Investments
3
10
Current assets
Debtors
5
7,891,117
Cash at bank and in hand
67
7,891,184
Creditors: amounts falling due within one year
6
(7,981,689)
Net current liabilities
(90,505)
Net liabilities
(90,495)
Capital and reserves
Called up share capital
7
11
Profit and loss reserves
(90,506)
Total equity
(90,495)

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

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

The financial statements were approved by the board of directors and authorised for issue on 3 April 2025 and are signed on its behalf by:
Mr N R Kamath
Director
Company Registration No. 14979935
SEDGWICK SOLAR 5 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 4 July 2023
-
-
-
Period ended 31 December 2024:
Loss and total comprehensive income for the period
-
(90,506)
(90,506)
Issue of share capital
7
11
-
11
Balance at 31 December 2024
11
(90,506)
(90,495)
SEDGWICK SOLAR 5 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
1
Accounting policies
Company information

Sedgwick Solar 5 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1350-1360 Montpellier Court, Brockworth, Gloucester, United Kingdom, GL3 4AH.

1.1
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 sterling, 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.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have received confirmation from trueBuckley Trading Group Limited and its subsidiaries that they will provide any financial support necessary to allow the company to meet its financial obligations as they fall due for at least 12 months from the date of signing these accounts. Accordingly, the financial statements have been prepared on a going concern basis.

1.3
Reporting period

The entity has chosen to extend the accounting period to cover the period from its incorporation on 04 July 2023 to 31 December 2024.

1.4
Fixed asset investments

Interests in subsidiaries 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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

SEDGWICK SOLAR 5 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank 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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SEDGWICK SOLAR 5 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

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

2024
Number
Total
-
0
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
10
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 4 July 2023
-
Additions
10
At 31 December 2024
10
Carrying amount
At 31 December 2024
10
SEDGWICK SOLAR 5 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Bryngolwg Solar Ltd
England and Wales
Production and distribution of electricity
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

Unit 1350-1360 Montpellier Court, Brockworth, Gloucester, United Kingdom, GL3 4AH

5
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
7,891,117

The amounts owed by group undertakings bear interest at a rate of 6% and are repayable on demand.

6
Creditors: amounts falling due within one year
2024
£
Bank loans
2,271,577
Amounts owed to group undertakings
5,704,262
Other creditors
5,850
7,981,689

The amounts owed to group undertakings bear interest at a rate of 6% and are repayable on demand.

 

Close Leasing Limited holds a fixed and floating charge over the assets and undertakings of the subsidiary company. The loan is interest bearing at 8% and is repayable over the period to December 2025.

7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary Shares of £1 each
11
11
8
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.

SEDGWICK SOLAR 5 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
8
Audit report information
(Continued)
- 9 -
The senior statutory auditor was William King and the auditor was Johnston Carmichael LLP.
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10
Parent company

The immediate parent is Sedgwick Trading Portfolio 2 Limited.

The ultimate parent is Buckley Trading Group Limited.

 

The company has no ultimate controlling party.

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