BSR Applications Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 6

BSR Applications Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Deferred tax assets		-	9,835
Amounts owed by group undertakings	5	5,102,270	-
		5,102,270	9,835
Current assets
Stocks	4	3,377,286	2,970,750
Debtors	5	170,741	1,763,961
Cash at bank and in hand		21,366	34,748
		3,569,393	4,769,459
Creditors: Amounts falling due within one year	6	(9,757,992)	(5,056,802)
Net current liabilities		(6,188,599)	(287,343)
Net liabilities		(1,086,329)	(277,508)
Capital and reserves
Called up share capital	7	100	100
Capital redemption reserve		5,745	5,745
Profit and loss account		(1,092,174)	(283,353)
Shareholders' deficit		(1,086,329)	(277,508)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 September 2025 and signed on its behalf by:
 

......................................... Mr C D Bennett Director

Company Registration Number: 08264822

BSR Applications Limited

Notes to the Financial Statements

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:
35 - 35A The Maltings
Lower Charlton Trading Estate
Shepton Mallet
Somerset
England
BA4 5QE

These financial statements were authorised for issue by the Board on 5 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on a going concern basis.

The company has net current liabilities of £6,188,599 (2023: £287,343).

In making their going concern assessment, the directors have obtained confirmation that the ultimate parent undertaking and other group companies will continue to provide financial and non financial support to the company for the foreseeable future, being at least 12 months from approval of the financial statements.

The directors have obtained confirmation that the amounts due to group companies, whilst considered repayable on demand, will only be called in when there are sufficient funds to do so and not in detriment to third party creditors.

The directors have also considered the ability of the ultimate parent undertaking and other group companies ability to provide financial and non financial support for the foreseeable future.

As such, the directors believe that the going concern basis to be appropriate.

BSR Applications Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.

Carrying value of work in progress
Work in progress includes costs associated with the development of solar parks. The directors assess the development costs based on a gate process, whereby each stage in the development cycle is required to go through a robust viability assessment. Certain development costs are incurred prior to planning permission being obtained on sites and are included within work in progress where the directors believe planning will be obtained, based on historical experience. Further to this certain costs incurred may be partially refundable in the event of a project not being taken forward.

Where planning is not expected to be obtained or the proposed development is not currently viable, the associated costs are provided against.

The total value of work in progress that is still subject to obtaining planning permission is £3,377,286 but the directors consider this to be recoverable based on historic experience. A provision of £1,206,361 has been recognised against work in progress at the balance sheet date, which has been recognised as an expense in the period.

Revenue recognition

Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. Turnover is recognised when the service is provided.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost is based on the cost of purchase and net realisable value is based on estimated selling price less additional costs to completion and sale.

BSR Applications Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Balances with group undertakings; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

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

4

Stocks

	2024 £	2023 £
Work in progress	3,377,286	2,970,750

5

Debtors

	2024 £	2023 £
Amounts due from group undertakings	-	1,492,643
Other debtors	170,741	271,318
	170,741	1,763,961