| MPG Castlegore Ltd |
| Registered number: |
NI720548 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
| £ |
|
| Fixed assets |
| Investments |
3 |
|
|
155,420 |
|
| Current assets |
| Debtors |
4 |
|
3,073,018 |
| Cash at bank and in hand |
|
|
32,461 |
|
|
|
3,105,479 |
|
|
|
| Creditors: amounts falling due within one year |
5 |
|
(3,302,076) |
|
| Net current liabilities |
|
|
|
(196,597) |
|
|
| Net liabilities |
|
|
|
(41,177) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up, issued, unpaid share capital |
|
|
|
10,000 |
| Profit and loss account |
|
|
|
(51,177) |
|
| Shareholders' funds |
8 |
|
|
(41,177) |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. |
| The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006. |
|
| The notes on pages 6 to 8 form an integral part of the accounts. |
|
|
|
| Adrian Martin |
Eamonn Martin |
| Director |
Director |
| Approved by the board on 25 September 2025 |
Approved by the board on 25 September 2025 |
|
|
|
|
|
| Brendan Martin |
Tamasin Fraser |
| Director |
Director |
| Approved by the board on 25 September 2025 |
Approved by the board on 25 September 2025 |
|
| MPG Castlegore Ltd |
| Notes to the Accounts |
| for the period from 30 August 2024 to 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
The financial statements are presented in UK Sterling pounds (£) |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Financial instruments |
|
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
| 2 |
Employees |
2024 |
| Number |
|
|
Average number of persons employed by the company |
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
Additions |
155,420 |
|
|
At 31 December 2024 |
155,420 |
|
|
|
|
|
|
|
|
|
|
MPG Castlegore Ltd acquired 100% of the share capital in Castlegore Wind Farm Ltd, a company registered in Northern Ireland, during the year. |
|
|
| 4 |
Debtors |
2024 |
| £ |
|
|
Other debtors |
3,073,018 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
| £ |
|
|
Other creditors |
3,302,076 |
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
At the balance sheet date the company had the following balance with members of its group: |
|
|
|
|
|
|
|
|
2024 |
| £ |
|
|
Castlegore Wind Farm Ltd |
3,049,228 |
|
|
|
|
|
|
|
|
|
|
At the balance sheet date the company had the following balances with related parties: |
|
|
|
|
|
|
|
|
2024 |
| £ |
|
|
MPG Wind Ltd |
(885,000) |
|
Highland Wind Energy Ltd |
(2,031,575) |
|
Ash Renewables Limited |
(385,000) |
|
|
|
|
|
|
|
|
(3,301,575) |
|
|
|
|
|
|
|
|
|
|
Messrs Eamonn and Adrian Martin are directors and persons with significant control in MPG Wind Ltd and Highland Wind Energy Ltd.
Ash Renewables Limited owns 28.33% of the shareholding in MPG Castlegore Ltd.
At the balance sheet date the above balances have been reflected in the debtors and creditors respectively.
The balances are interest free and repayable on demand. |
|
|
| 7 |
Directors' advances, credits and guarantees |
|
|
During the year there were no transactions with the directors. |
|
|
| 8 |
Statement of changes in equity |
|
|
Shareholders funds represents cumulative profits or losses, net of dividends paid, and other adjustments. |
|
|
| 9 |
Other information |
|
|
MPG Castlegore Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
141 Camlough Road |
|
Carrickmore |
|
Co. Tyrone |
|
BT79 9BS |