0 Woodlands Energy Storage Ltd 15017949 false 2023-07-21 2024-12-31 2024-12-31 The principal activity of the company is the production of electricity. Digita Accounts Production Advanced 6.30.9574.0 true false true 15017949 2023-07-21 2024-12-31 15017949 2024-12-31 15017949 core:CurrentFinancialInstruments 2024-12-31 15017949 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15017949 core:OtherPropertyPlantEquipment 2024-12-31 15017949 core:ParentEntities 2024-12-31 15017949 bus:SmallEntities 2023-07-21 2024-12-31 15017949 bus:Audited 2023-07-21 2024-12-31 15017949 bus:FilletedAccounts 2023-07-21 2024-12-31 15017949 bus:SmallCompaniesRegimeForAccounts 2023-07-21 2024-12-31 15017949 bus:RegisteredOffice 2023-07-21 2024-12-31 15017949 bus:Director1 2023-07-21 2024-12-31 15017949 bus:Director2 2023-07-21 2024-12-31 15017949 bus:PrivateLimitedCompanyLtd 2023-07-21 2024-12-31 15017949 bus:Agent1 2023-07-21 2024-12-31 15017949 core:OtherPropertyPlantEquipment 2023-07-21 2024-12-31 15017949 core:ParentEntities 2023-07-21 2024-12-31 15017949 1 2023-07-21 2024-12-31 15017949 countries:England 2023-07-21 2024-12-31 xbrli:pure iso4217:GBP

Registration number: 15017949

Woodlands Energy Storage Ltd

Filleted Financial Statements

for the Period from 21 July 2023 to 31 December 2024

 

Woodlands Energy Storage Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Woodlands Energy Storage Ltd

Company Information

Directors

Andrea Arcangeli

Jose Miguel Moraga Delgado

Registered office

1-3 Whittlesey Street
London
England
SE1 8SZ

Auditors

Carbon Accountancy Limited
Chartered Accountants and Registered Auditors80-83 Long Lane
London
EC1A 9ET

 

Woodlands Energy Storage Ltd

(Registration number: 15017949)
Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

562,348

Current assets

 

Debtors

5

5,251

Cash at bank and in hand

 

71,350

 

76,601

Creditors: Amounts falling due within one year

6

(649,770)

Net current liabilities

 

(573,169)

Net liabilities

 

(10,821)

Capital and reserves

 

Called up share capital

7

1

Retained earnings

(10,822)

Shareholders' deficit

 

(10,821)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Andrea Arcangeli
Director

.........................................
Jose Miguel Moraga Delgado
Director

 
     
 

Woodlands Energy Storage Ltd

Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024

1

General information

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

The address of its registered office is:
1-3 Whittlesey Street
London
England
SE1 8SZ
United Kingdom

These financial statements were authorised for issue by the Board on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

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

At the balance sheet date, the Company had a net deficiency of assets amounting to £10,821 which includes a loan of £634,630 from Group undertakings. As the Company is not yet generating revenue, it remains dependent on financial support from the Group for the foreseeable future.

The confirmation has been obtained from group's ultimate parent company to provide financial support for at least 12 months from the date the financial statements are approved and signed. This confirmation includes a commitment to continue providing working capital and not to demand repayment of the loan until the Company has completed its build project currently expected to be finalised in 2026 and is financially capable of repayment.

Based on the directors' assessment and the Group’s continued financial support to fund the project through to completion, the financial statements have been prepared on a going concern basis.

 

Woodlands Energy Storage Ltd

Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 22 May 2025 was John Leyden, who signed for and on behalf of Carbon Accountancy Limited.

Tangible 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. Assets under construction include the ongoing costs to construct fixed assets which are not ready for use and are stated in the balance sheet at cost.

Depreciation will commence once the construction is complete and the asset is in a location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation

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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Woodlands Energy Storage Ltd

Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

The Directors were remunerated by group's ultimate parent company, Solarig Global Services, S.A and there is no recharge to the Company. The Directors also act as directors for a number of fellow subsidiaries, and so it is not possible to make an accurate apportionment of their remuneration in respect of each of the subsidiaries.
 

4

Tangible assets

Assets under construction
£

Total
£

Cost or valuation

Additions

562,348

562,348

At 31 December 2024

562,348

562,348

Depreciation

Carrying amount

At 31 December 2024

562,348

562,348

5

Debtors

Current

2024
£

Other debtors

5,251

 

5,251

 

Woodlands Energy Storage Ltd

Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

10,140

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

10

634,630

Accruals and deferred income

 

5,000

 

649,770

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £0.01 each

100

1

   

8

Obligations under leases and hire purchase contracts

There are no lease/land lease commitments as at the balance sheet date.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitment towards assets under construction not included in balance sheet stands balance sheet at £48,582.

 

Woodlands Energy Storage Ltd

Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024

10

Related party transactions

Summary of transactions with parent

Solacap UK Ltd
Company’s working capital is being funded by its parent company Solacap UK Ltd. At the balance sheet date amount due to parent and entities with joint control or significant influence was:

Loans from related parties

2024

Parent
£

Total
£

Advanced

634,630

634,630

At end of period

634,630

634,630

11

Parent and ultimate parent undertaking

The company's immediate parent is Solacap UK Ltd, incorporated in England. Its registered address is 1-3 Whittlesey Street, London, England, SE1 8SZ.

The ultimate parent is Solarig Global Services, S.A, incorporated in Spain. Its registered address is Calle de la Ribera del Loira, number 28, 2nd floor, 28042, Madrid, Spain.