Braydon Manor Renewable Energy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09358616 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2020

for

BRAYDON MANOR RENEWABLE ENERGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Medlock

P J Medlock

SECRETARY:

A C Ambridge

REGISTERED OFFICE:

W106 Vox Studios 1-45 Durham Street

Vauxhall

London

SE11 5JH

REGISTERED NUMBER:

09358616 (England and Wales)

ACCOUNTANTS:

Haines Watts

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

3,383,777

3,611,786

CURRENT ASSETS

Debtors

5

41,801

226,942

Cash at bank

132,948

35,805

174,749

262,747

CREDITORS

Amounts falling due within one year

6

(3,218,844

)

(3,676,545

)

NET CURRENT LIABILITIES

(3,044,095

)

(3,413,798

)

TOTAL ASSETS LESS CURRENT LIABILITIES

339,682

197,988

PROVISIONS FOR LIABILITIES

8

(74,199

)

(46,777

)

NET ASSETS

265,483

151,211

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

265,482

151,210

SHAREHOLDERS' FUNDS

265,483

151,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 10 June 2021 and were signed on its behalf by:

D J Medlock - Director

1.	COMPANY INFORMATION

Braydon Manor Renewable Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of producing electricity from renewable sources.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - Straight line over 5 and 20 years

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2019

and 31 October 2020

4,539,253

DEPRECIATION

At 1 November 2019

927,467

Charge for year

228,009

At 31 October 2020

1,155,476

NET BOOK VALUE

At 31 October 2020

3,383,777

At 31 October 2019

3,611,786

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,800

193,670

Prepayments and accrued income

40,001

33,272

41,801

226,942

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

4,260

12,832

Amounts owed to group undertakings

3,165,719

3,640,719

VAT

33,194

10,836

Accruals and deferred income

15,671

12,158

3,218,844

3,676,545

7.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Intercompany loan

3,165,719

3,640,719

The intercompany loan is secured by a charge over the land leased by the company and all of the company's assets.

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

Accelerated capital allowances

74,199

46,777

Deferred

tax

£

Balance at 1 November 2019

46,777

Provided during year

27,422

Balance at 31 October 2020

74,199

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1.00

1

1

10.	RELATED PARTY DISCLOSURES

Chatleigh Limited is the parent company. During the the period the company repaid loans of £475,000 to Chatleigh Limited. At the period end the company owed £3,165,719 (2019: £3,640,719) to Chatleigh Limited. The loan is interest free and has no set date of repayment.