Registration number: 13505144

Westlands Solar Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Westlands Solar Ltd

Company Information

Directors

Alexander Hepburn Andrea Arcangeli

Registered office

1-3 Whittlesey Street London England United Kingdom SE1 8SZ

Accountants

Global Tax Limited 112 Houndsditch London EC3A 7BD

Auditors

Carbon Accountancy Limited Chartered Accountants and Registered Auditors80-83 Long Lane London EC1A 9ET

Westlands Solar Ltd

(Registration number: 13505144)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	-	280,739
Current assets
Debtors	5	12,055	455
Cash at bank and in hand		3,136	391
		15,191	846
Creditors: Amounts falling due within one year	6	(333,084)	(300,891)
Net current liabilities		(317,893)	(300,045)
Net liabilities		(317,893)	(19,306)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		(317,993)	(19,406)
Shareholders' deficit		(317,893)	(19,306)

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 26 December 2025 and signed on its behalf by:
 

......................................... Alexander Hepburn Director

......................................... Andrea Arcangeli Director

Westlands Solar Ltd

Notes to the 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 & Wales.

The address of its registered office is:
1-3 Whittlesey Street
London
England
SE1 8SZ
United Kingdom

These financial statements were authorised for issue by the Board on 26 December 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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company reported a net deficiency of assets of £317,893 (2023: £19,306), which includes amounts owed to group undertakings of £322,385. The company was established for the purpose of developing a solar park project; however, it has been unable to secure the necessary land required for development. Following unsuccessful negotiations for land, the project is not expected to proceed, and the company has ceased its development activities. Given the absence of a viable project and the significant uncertainty surrounding the identification and acquisition of a suitable alternative site, the directors do not consider it appropriate to adopt the going concern basis of accounting. Therefore, the financial statements have been prepared on a basis other than going concern.

Under this basis of preparation:
- Assets have been stated at their estimated recoverable amounts;
- The assets under construction of £287,852 have been fully impaired as they have no recoverable value given that the project will not proceed;
- Liabilities continue to be recognised at the amounts expected to be paid to settle the obligations.

The company's parent undertaking has provided a letter of support confirming its intention to provide sufficient funds to enable the company to meet its liabilities as they fall due.

Westlands Solar Ltd

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

Audit report

The Independent Auditor's Report was unqualified. We draw attention to Note 2 to the financial statements which explains that, following the company's inability to secure the necessary land for its intended solar park development, the project will not proceed and the company has ceased its development activities. As a result, the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 26 December 2025 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.
 

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Assets under construction include the ongoing costs to construct fixed assets which are not ready for use and are stated in the balance sheet at cost. Depreciation will commence once the construction is complete and the asset is in a location and condition necessary for it to be capable of operating in the manner intended by management.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Westlands Solar Ltd

Notes to the 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 and subsequently measured at amortised cost using the effective interest method.

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). The Directors were remunerated by the parent company, Solarig Global Services, S.A and there is no recharge to the Company. The Directors also act as directors for a number of fellow subsidiaries, and so it is not possible to make an accurate apportionment of their remuneration in respect of each of the subsidiaries.

4	Tangible assets

	Assets under construction £	Total £
Cost or valuation
At 1 January 2024	280,739	280,739
Additions	7,113	7,113
At 31 December 2024	287,852	287,852
Depreciation
Impairment	287,852	287,852
At 31 December 2024	287,852	287,852
Carrying amount
At 31 December 2024	-	-
At 31 December 2023	280,739	280,739

Westlands Solar Ltd

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

5

Debtors

Current	2024 £	2023 £
Other debtors	12,055	455
	12,055	455

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		5,687	3,180
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	322,385	287,216
Accruals and deferred income		5,000	5,000
Other creditors		12	5,495
		333,084	300,891

7	Share capital

Allotted, called up and not fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Westlands Solar Ltd

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

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £752,835).

Throughout 2024, the company faced ongoing challenges in securing suitable land for the development of its proposed solar park project. Management was actively identifying potential sites and negotiating for land at Beckerley Lane, Holt, Trowbridge (WT452750). By the balance sheet date, it had become apparent that an agreement with the landowners was unlikely to be reached, and subsequent to the year end the negotiations were formally terminated. As a result, the project will not proceed as originally planned and the total capitalised development costs have been impaired to £Nil as at 31 December 2024.

On 11 November 2021, the company provided security to RE Projects Development Limited by way of a charge. The security comprises both fixed and floating charges over the company's assets, including a negative pledge that restricts the company from creating further charges over the secured assets without prior consent. The charge was registered at Companies House on 13 November 2021.

9	Related party transactions

Summary of transactions with parent

Company’s working capital is being funded by its parent company Solarig Global Services, S.A., a company incorporated in Spain. Acap Renewables Ltd, a company incorporated in England has also provided funding to the company and holds a 20% equity interestAt the balance sheet date amount due to parent was:

Loans from related parties

2024	Parent £	Entities with joint control or significant influence £	Total £
At start of period	287,216	5,483	292,699
Advanced	25,326	3,541	28,867
Interest transactions	1,217	-	1,217
Impairment	(398)	-	(398)
At end of period	313,361	9,024	322,385

2023	Parent £	Entities with joint control or significant influence £	Total £
At start of period	253,574	26,385	279,959
Advanced	33,642	(20,902)	12,740
At end of period	287,216	5,483	292,699

Westlands Solar Ltd

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

10	Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Solarig Global Services, S.A, incorporated in Spain. Its registered address is Calle de la Ribera del Loira, number 28, 2nd floor, 28042, Madrid, Spain.