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Registered number: 13078007









LUTHIER RENEWABLES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LUTHIER RENEWABLES LIMITED
REGISTERED NUMBER: 13078007

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
5,025,500
500

  
5,025,500
500

Current assets
  

Debtors: amounts falling due after more than one year
 5 
9,295
5,503

Debtors: amounts falling due within one year
 5 
1,200
566,327

Cash at bank and in hand
 6 
1,359,264
29,635,556

  
1,369,759
30,207,386

Creditors: amounts falling due within one year
 7 
(1,088,741)
(481,030)

Net current assets
  
 
 
281,018
 
 
29,726,356

Total assets less current liabilities
  
5,306,518
29,726,856

  

Net assets
  
5,306,518
29,726,856


Capital and reserves
  

Called up share capital 
  
1,200
1,200

Profit and loss account
  
5,305,318
29,725,656

  
5,306,518
29,726,856


Page 1

 
LUTHIER RENEWABLES LIMITED
REGISTERED NUMBER: 13078007
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S G G Scrimgeour
Director

Date: 16 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LUTHIER RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Luthier Renewables Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors' report. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

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 company is dependent upon the support of the directors, which will not be withdrawn. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
LUTHIER RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
LUTHIER RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
500


Additions
5,025,000



At 31 December 2024
5,025,500




Page 5

 
LUTHIER RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
9,295
5,503

9,295
5,503


2024
2023
£
£

Due within one year

Other debtors
1,200
566,327

1,200
566,327



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,359,264
29,635,556

1,359,264
29,635,556



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
780
-

Corporation tax
12,382
-

Other creditors
1,072,009
477,628

Accruals and deferred income
3,570
3,402

1,088,741
481,030


Page 6

 
LUTHIER RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Related party transactions

In debtors, there is an amount owed by a subsidiary company of £9,295 (2023: £5,503) and a loan of £nil (2023:£566,327) owed by a director. Interest of between 0-24% was previously charged on this loan.
In creditors, there is an amount of £51,520 (2023: £78,642) owed to a director (2023: directors) and an amount of £1,019,999 (2023: £nil) owed to other related parties. Interest of between 0-24% is charged on these loans.

 
Page 7