Acorah Software Products - Accounts Production 16.3.350 false true 31 May 2023 1 August 2022 false 1 June 2023 31 May 2024 31 May 2024 11448072 Mr William Alan Davies Mr Richard Meakin Terra Firma (Wingrave) Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11448072 2023-05-31 11448072 2024-05-31 11448072 2023-06-01 2024-05-31 11448072 frs-core:CurrentFinancialInstruments 2024-05-31 11448072 frs-core:Non-currentFinancialInstruments 2024-05-31 11448072 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 11448072 frs-core:FurnitureFittings 2024-05-31 11448072 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11448072 frs-core:FurnitureFittings 2023-05-31 11448072 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 11448072 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11448072 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 11448072 frs-core:OtherResidualIntangibleAssets 2024-05-31 11448072 frs-core:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 11448072 frs-core:OtherResidualIntangibleAssets 2023-05-31 11448072 frs-core:PlantMachinery 2024-05-31 11448072 frs-core:PlantMachinery 2023-06-01 2024-05-31 11448072 frs-core:PlantMachinery 2023-05-31 11448072 frs-core:ShareCapital 2024-05-31 11448072 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11448072 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11448072 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11448072 frs-bus:SmallEntities 2023-06-01 2024-05-31 11448072 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11448072 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11448072 1 2023-06-01 2024-05-31 11448072 frs-bus:Director1 2023-06-01 2024-05-31 11448072 frs-bus:Director2 2023-06-01 2024-05-31 11448072 frs-countries:EnglandWales 2023-06-01 2024-05-31 11448072 2022-07-31 11448072 2023-05-31 11448072 2022-08-01 2023-05-31 11448072 frs-core:CurrentFinancialInstruments 2023-05-31 11448072 frs-core:Non-currentFinancialInstruments 2023-05-31 11448072 frs-core:ShareCapital 2023-05-31 11448072 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11448072
ARL 021 Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Valentis (UK) Ltd
ACCA
6-8 Great Eastern Street
London
EC2A 3NT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11448072
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,763 23,548
Tangible Assets 5 558,736 65,025
581,499 88,573
CURRENT ASSETS
Debtors 6 112,349 37,781
Cash at bank and in hand 2,753 177
115,102 37,958
Creditors: Amounts Falling Due Within One Year 7 (24,636 ) (3,500 )
NET CURRENT ASSETS (LIABILITIES) 90,466 34,458
TOTAL ASSETS LESS CURRENT LIABILITIES 671,965 123,031
Creditors: Amounts Falling Due After More Than One Year 8 (1,017,306 ) (310,934 )
NET LIABILITIES (345,341 ) (187,903 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (345,441 ) (188,003 )
SHAREHOLDERS' FUNDS (345,341) (187,903)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Meakin
Director
09/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ARL 021 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11448072 . The registered office is Causeway House C/O Terra Firma Energy Ltd, The Causeway, Teddington, TW11 0JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are stated at cost less accumulated amortisation and any impairment losses. Amortisation is charged to the profit and loss account on a systematic basis over the estimated useful life of the asset, reflecting the pattern in which the asset’s economic benefits are consumed.
The company’s intangible assets include:
Licences and Agreements – These relate to permits or licences issued for the setup of the gas peaking plant. These are amortised on a straight-line basis over the life of the licence or the lease, whichever is shorter.
Amortisation policies and useful lives are reviewed annually and adjusted if necessary.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less any accumulated depreciation and impairment losses. Cost includes the purchase price and any directly attributable costs required to bring the asset into working condition for its intended use.
No depreciation has been applied to the site or related equipment during the financial year, as the site remained under construction at the balance sheet date. Depreciation has been charged on the lease, which is not dependent on the operational status of the site.
Once the site becomes fully operational, the directors will adopt a depreciation policy and valuation basis that appropriately reflects the nature, usage, and expected useful life of each asset class.
Depreciation is applied as follows:
Leasehold Straight-line over the lease term
Plant & Machinery Depreciation to commence upon site completion
Site Costs (Under Construction) Depreciation to commence upon site completion
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Licences and Agreements
£
Cost
As at 1 June 2023 23,548
As at 31 May 2024 23,548
Amortisation
As at 1 June 2023 -
Provided during the period 785
As at 31 May 2024 785
Net Book Value
As at 31 May 2024 22,763
As at 1 June 2023 23,548
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Site Costs (Under Construction) Total
£ £ £ £
Cost
As at 1 June 2023 - - 65,025 65,025
Additions 30,673 24,890 439,170 494,733
As at 31 May 2024 30,673 24,890 504,195 559,758
Depreciation
As at 1 June 2023 - - - -
Provided during the period 1,022 - - 1,022
As at 31 May 2024 1,022 - - 1,022
Net Book Value
As at 31 May 2024 29,651 24,890 504,195 558,736
As at 1 June 2023 - - 65,025 65,025
Site Status
As at the balance sheet date, the site was under construction. Construction activities continued throughout the next financial year.
6. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Prepayments and accrued income 75,721 -
VAT 36,628 37,781
112,349 37,781
7. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Trade creditors 18,636 -
Accruals and deferred income 6,000 3,500
24,636 3,500
8. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 31 May 2023
£ £
Amounts owed to parent company 1,017,306 310,934
Amounts Owed to Parent Company
At the balance sheet date, the company owed £1,017,306 (2023: £310,934) to its parent company. This balance is unsecured, interest-free, and repayable on demand.
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9. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Controlling Party
The company’s immediate controlling party is Terra Firma (Wingrave) Ltd, by virtue of its ownership of 100% of the issued share capital.
The company’s ultimate controlling party is Terra Firma Energy Ltd, which holds a majority interest in Terra Firma (Wingrave) Ltd.
Page 5