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Registration number: 14549258

Welby Solar Farm Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Welby Solar Farm Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Welby Solar Farm Limited

(Registration number: 14549258)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

974,674

-

Current assets

 

Debtors

5

78,277

100

Creditors: Amounts falling due within one year

6

(1,052,851)

-

Net current (liabilities)/assets

 

(974,574)

100

Net assets

 

100

100

Capital and reserves

 

Called up share capital

7

100

100

Shareholders' funds

 

100

100

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

Directors' responsibilities:

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

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

Approved and authorised by the Board on 4 August 2025 and signed on its behalf by:
 

.........................................
T D Tuominen
Director

   
     
 

Welby Solar Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Unit 25.7 Coda Studios
189 Munster Road
London
SW6 6AW
England

These financial statements were authorised for issue by the Board on 4 August 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.

Assets under construction

Assets under construction are accounted for at total cost incurred to balance sheet date. They are not depreciated until the accounting period in which they are brought into use. At each reporting date, assets under construction are assessed for impairment. If management consider an impairment is required, the carrying amount is reduced to the assets selling price less costs to complete and sell. The impairment loss is recognised in the profit and loss.

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:

Asset class

Depreciation method and rate

Assets under construction

nil until asset in use

Other debtors

Other debtors are receivable within one year unless otherwise stated and are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

Welby Solar Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Welby Solar Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Assets under construction
£

Total
£

Cost or valuation

Additions

974,674

974,674

At 31 December 2024

974,674

974,674

Carrying amount

At 31 December 2024

974,674

974,674

5

Debtors

2024
£

2023
£

Other debtors

78,277

100

78,277

100

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,200

-

Amounts owed to related parties

1,051,651

-

1,052,851

-

 

Welby Solar Farm Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is IGP UK Projects Limited, incorporated in England and Wales.

The address of IGP UK Projects Limited is:
Unit 25.7 Coda Studios, 189 Munster Road, London, England, SW6 6AW