Registration number:
Woodlands Energy Storage Ltd
for the Period from 21 July 2023 to 31 December 2024
Woodlands Energy Storage Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Woodlands Energy Storage Ltd
Company Information
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Directors |
Andrea Arcangeli Jose Miguel Moraga Delgado |
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Registered office |
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Auditors |
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Woodlands Energy Storage Ltd
(Registration number: 15017949)
Balance Sheet as at 31 December 2024
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Note |
2024 |
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Fixed assets |
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Tangible assets |
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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 |
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Retained earnings |
(10,822) |
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Shareholders' deficit |
(10,821) |
Approved and authorised by the
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Woodlands Energy Storage Ltd
Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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 name of the Senior Statutory Auditor who signed the audit report on
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
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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.
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Tangible assets |
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Assets under construction |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2024 |
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Depreciation |
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Carrying amount |
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At 31 December 2024 |
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Debtors |
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Current |
2024 |
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Other debtors |
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Woodlands Energy Storage Ltd
Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
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No. |
£ |
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Ordinary shares of £0.01 each |
100 |
1 |
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Obligations under leases and hire purchase contracts |
There are no lease/land lease commitments as at the balance sheet date.
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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 £
Woodlands Energy Storage Ltd
Notes to the Financial Statements for the Period from 21 July 2023 to 31 December 2024
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Related party transactions |
Summary of transactions with parent
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
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2024 |
Parent |
Total |
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Advanced |
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At end of period |
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Parent and ultimate parent undertaking |
The company's immediate parent is
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.