Penberth Power Limited Accounts

1

General information

Its registered number is: 09315116

Its registered office is:

Going concern

2

Accounting policies

Turnover

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investments

Trade and other debtors

Trade and other creditors

3

Employees

2020

2019

Number

Number

The average number of persons employed during the year :

4

Investments

Investment in Subsidiaries

Total

£

£

Cost or valuation

At 1 April 2019

At 31 March 2020

Provisions/Impairment

Net book values

At 31 March 2020

At 31 March 2019

5

Debtors

2020

2019

£

£

Amounts owed by group undertakings

Prepayments and accrued income

6

Creditors:

amounts falling due within one year

2020

2019

£

£

Trade creditors

Other taxes and social security

Accruals and deferred income

7

Reserves

8

Share capital

The company has 4,993,901 Ordinary £0.01 shares, 1,000 Participating £0.01 and 1 D Ordinary £0.01 shares in issue, all of which are paid up.

Ordinary shares have full voting rights and are entitled to dividends and other distributions. On an exit event the ordinary shareholders are entitled to 100% of proceeds up to the net subscription price of the shares and then 80% of proceeds above that amount.

Participating shares have full voting rights. They are not entitled to dividends and other distributions.

D shares have no voting rights and are not entitled to any dividends. On an exit event the D shareholders have limited rights to a distribution.