Company Registration No. 09317399 (England and Wales)
Chickenhawk Limited
Unaudited accounts
for the period from 1 January 2018 to 30 June 2019
Chickenhawk Limited
Unaudited accounts
Contents
Chickenhawk Limited
Company Information
for the period from 1 January 2018 to 30 June 2019
Directors
William Laugharne Morgan
Karl Philip Devon-Lowe
Company Number
09317399 (England and Wales)
Registered Office
338 EUSTON ROAD
LONDON
NW1 3BG
ENGLAND
Chickenhawk Limited
Statement of financial position
as at 30 June 2019
Tangible assets
925,356
1,011,668
Cash at bank and in hand
32,315
122
Creditors: amounts falling due within one year
(22,263)
(171,520)
Net current assets/(liabilities)
224,246
(66,773)
Total assets less current liabilities
1,149,602
944,895
Creditors: amounts falling due after more than one year
-
(1,010,782)
Provisions for liabilities
Deferred tax
(82,548)
(57,460)
Net assets/(liabilities)
1,067,054
(123,347)
Called up share capital
1,067,054
100
Profit and loss account
-
(123,447)
Shareholders' funds
1,067,054
(123,347)
For the period ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 February 2020.
William Laugharne Morgan
Director
Company Registration No. 09317399
Chickenhawk Limited
Notes to the Accounts
for the period from 1 January 2018 to 30 June 2019
Chickenhawk Limited is a private company, limited by shares, registered in England and Wales, registration number 09317399. The registered office is 338 EUSTON ROAD, LONDON, NW1 3BG, ENGLAND.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102").
The financial statements have been prepared on a going concern basis as the Directors believe there will be sufficient cash to continue operations for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the generation of electricity. Turnover from the generation of electricity is recognised when the electricity generated has been exported to the grid.
Tangible fixed assets comprise directly attributable costs in acquiring assets including finance costs and professional fees where appropriate.
Individual fixed assets costing more than £1,000 are capitalised at cost.
Depreciation has been provided on a systematic basis in order to write off plant and machinery over the estimated useful economic life of 20 years. The directors will also consider whether assets should be subject to an impairment review.
Debtors are initially measured at fair value and subsequently measured at amortised cost using the effective interest method, less any impairment for bad or doubtful debts.
Creditors are initially measured at fair value and subsequently measured at amortised cost using the effective interest method.
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 is it probable that they will be recovered against the reversal of deferred tax liabilities, other future taxable profits or by way of group relief. 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.
Chickenhawk Limited
Notes to the Accounts
for the period from 1 January 2018 to 30 June 2019
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.
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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 annual accounts. 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.
The Accounting date of the Company has been changed to 30 June in order to bring it in line with its parent Company.
Expenses are recognised in the Statement of Comprehensive Income on an accruals basis in the period in which they are incurred.
3
Tangible fixed assets
Plant & machinery
At 1 January 2018
1,150,702
Charge for the period
86,312
At 31 December 2017
1,011,668
Chickenhawk Limited
Notes to the Accounts
for the period from 1 January 2018 to 30 June 2019
Trade debtors
42,738
6,797
Amounts due from group undertakings etc.
146,986
12,727
Other debtors
24,470
85,101
5
Creditors: amounts falling due within one year
2019
2017
Trade creditors
7,460
21,630
Amounts owed to group undertakings and other participating interests
12,718
11,390
Taxes and social security
-
2,119
Other creditors
2,085
131,881
6
Creditors: amounts falling due after more than one year
2019
2017
Other creditors
-
1,010,782
7
Transactions with related parties
During the period the Company lent to Wind Renewables Income Holdco Ltd in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2019 is £94,000.
During the period the Company lent to Wind Renewables Income Fund in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2019 is £52,986.
During the period the Company borrowed from Lepetomane Ltd in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2019 is £12,718.
No adjustment has been made to reflect the value of any interest free loans at present value as, in the opinion of the Directors, this would not have any material affect on the financial statements.
Chickenhawk Limited had received interest free loans with no repayment terms from Hallmark Powergen 2 Limited, which had a common ultimate controlling party in Hallmark Powergen Limited. At the period end, an amount of £Nil (2017: £8,390) was outstanding.
Chickenhawk Limited traded with and had made loans to Sector 17 Limited. The directors and shareholders of Sector 17 Limited were also the directors and shareholders of the ultimate controlling party, Hallmark Powergen Limited. During the period, professional services were provided by Sector 17 Limited totalling £Nil (2017: £5,767). At the period end, an amount was owing from Sector 17 Limited to Chickenhawk Limited totalling £Nil (2017: £12,727).
The Directors of the Company have waived their directors fees.
The controlling party is Lepetomane Limited.
The ultimate controlling party of the Company is Wind Renewables Income Fund.
Chickenhawk Limited
Notes to the Accounts
for the period from 1 January 2018 to 30 June 2019
9
Post balance sheet events
There have been no significant events since the end of the financial period.
10
Average number of employees
During the period the average number of employees was 0 (2017: 0).
