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Registration number: SC778231

VI Renewables Ltd

Unaudited Filleted Financial Statements

for the Period from 7 August 2023 to 31 August 2024

 

VI Renewables Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

Accountants' Report

5

 

VI Renewables Ltd

Company Information

Director

Mr Lee James Callaghan

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

VI Renewables Ltd

(Registration number: SC778231)
Balance Sheet as at 31 August 2024

Note

2024
£

Current assets

 

Cash at bank and in hand

 

136

Creditors: Amounts falling due within one year

4

(1,885)

Net liabilities

 

(1,749)

Capital and reserves

 

Called up share capital

100

Retained earnings

(1,849)

Shareholders' deficit

 

(1,749)

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 April 2025
 

.........................................
Mr Lee James Callaghan
Director

 

VI Renewables Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the director(s) that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 31 August 2024.

Tax

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the period, was 1.

 

VI Renewables Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

4

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

5

1,043

Other creditors

 

842

 

1,885

5

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

7 August 2023 to 31 August 2024
 £

Mr Lee James Callaghan

442

 

442

The maximum balance outstanding during the year amounted to £442.

The directors current accounts are repayable on demand.

Loans to related parties
The director, Mr Lee James Callaghan is also a director of Cridhe Ltd. Included in creditors is a loan from Cridhe Ltd amounting to £1,043.

The above loan is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
VI Renewables Ltd
for the Period Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VI Renewables Ltd for the period ended 31 August 2024 as set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of VI Renewables Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of VI Renewables Ltd and state those matters that we have agreed to state to the Board of Directors of VI Renewables Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VI Renewables Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that VI Renewables Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VI Renewables Ltd. You consider that VI Renewables Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of VI Renewables Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

7 April 2025