Solar Power Generation Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 8

Solar Power Generation Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Deferred tax assets		383,150	384,508
Tangible assets	4	-	-
Investments	5	800	800
Amounts owed by group undertakings	6	3,883,823	-
		4,267,773	385,308
Current assets
Debtors	6	-	3,887,024
Cash at bank and in hand		4,155	382
		4,155	3,887,406
Creditors: Amounts falling due within one year	7	(3,697,489)	(3,680,736)
Net current (liabilities)/assets		(3,693,334)	206,670
Total assets less current liabilities		574,439	591,978
Creditors: Amounts falling due after more than one year	7	(178,906)	(195,669)
Net assets		395,533	396,309
Capital and reserves
Called up share capital	8	100	100
Profit and loss account		395,433	396,209
Shareholders' funds		395,533	396,309

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: 08415124

Solar Power Generation 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 & Wales.

The address of its registered office is:
35 - 35A The Maltings
Lower Charlton Trading Estate
Shepton Mallet
Somerset
England
BA4 5QE

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.

Group accounts not prepared

The financial statements contain information about Solar Power Generation Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken advantage of the exemption conferred by section 400 of the Companies Act 2006 not to produce consolidated financial statements as it is included in group accounts of a larger UK group.

Solar Power Generation Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Going concern

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

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.

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 (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1) Deferred tax assets - utilisation of historical losses
The company has taxable losses of £3,388,980 available to utilise in the future. The directors have exercised judgement in the level of taxable losses that they believe the company will be able to utilise in the future based on financial forecasts for solar park projects and the wider group’s activity. A deferred tax asset of £380,363 has been recognised in relation to these losses. A number of projects are expected to cover a significant period of time and as such the deferred tax asset has been treated as a non-current asset in the current year. The directors’ assessment has changed since the comparative period, where deferred tax assets were treated as current assets, due to the timing of significant expected transactions.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Solar Power Generation Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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 in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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
Plant and machinery	33% Straight line

Investments

Investments in subsidiary undertakings are recognised at cost less provision for impairment.

Solar Power Generation 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	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	59,986	59,986
At 31 December 2024	59,986	59,986
Depreciation
At 1 January 2024	59,986	59,986
At 31 December 2024	59,986	59,986
Carrying amount
At 31 December 2024	-	-
At 31 December 2023	-	-

Solar Power Generation Limited

Notes to the Financial Statements

Year Ended 31 December 2024

5	Investments

	2024 £	2023 £
Investments in subsidiaries	800	800