Solar Power Generation Limited - Accounts to registrar (filleted) - small 18.2

Solar Power Generation Limited - Accounts to registrar (filleted) - small 18.2

SOLAR POWER GENERATION LIMITED - Company Information

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REGISTERED NUMBER: 08415124 (England and Wales)


















SOLAR POWER GENERATION LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021





Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR








SOLAR POWER GENERATION LIMITED (REGISTERED NUMBER: 08415124)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOLAR POWER GENERATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: K R Ross
C S S Bondi
G Phillips





REGISTERED OFFICE: 35 - 35A The Maltings
Lower Charlton Trading Estate
Shepton Mallet
Somerset
BA4 5QE





REGISTERED NUMBER: 08415124 (England and Wales)





AUDITORS: Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR
Page 1
SOLAR POWER GENERATION LIMITED (REGISTERED NUMBER: 08415124)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 900 1,000
900 1,000

CURRENT ASSETS
Debtors 6 4,849,908 4,301,801
Cash at bank 31,663 683
4,881,571 4,302,484
CREDITORS
Amounts falling due within one year 7 4,000,190 3,945,834
NET CURRENT ASSETS 881,381 356,650
TOTAL ASSETS LESS CURRENT
LIABILITIES
882,281
357,650

CREDITORS
Amounts falling due after more than one
year
8
222,164
259,791
NET ASSETS 660,117 97,859

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 660,017 97,759
SHAREHOLDERS' FUNDS 660,117 97,859

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 March 2022 and were signed on its behalf by:





G Phillips - Director


The notes form part of these financial statements

Page 2
SOLAR POWER GENERATION LIMITED (REGISTERED NUMBER: 08415124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. COMPANY INFORMATION

Solar Power Generation Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08415124 and its registered address is 35 - 35A The Maltings, Lower Charlton Trading Estate, Shepton Mallet, Somerset, BA4 5QE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1)Revenue recognition

Revenue is recognised when management determine that sales are complete. This judgement is based
on the commitment indicated by the customer.

2)Deferred tax assets

Directors use their judgement to determine when it is probable that deferred tax assets will be
recovered against future taxable profits.

Turnover
Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. Turnover is recognised when there is a commitment to transfer the significant risks and rewards of ownership to the customer.

Tangible fixed assets
All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery33% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


Page 3 continued...
SOLAR POWER GENERATION LIMITED (REGISTERED NUMBER: 08415124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Consolidated financial statements
The financial statements contain information about Solar Power Generation Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken advantage of the exemption conferred by section 400 of the Companies Act 2006 not to produce consolidated financial statements as it is included in EEA group accounts of a larger group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2021
and 31 December 2021 59,986
DEPRECIATION
At 1 January 2021
and 31 December 2021 59,986
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -


Page 4 continued...
SOLAR POWER GENERATION LIMITED (REGISTERED NUMBER: 08415124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021 1,000
Disposals (100 )
At 31 December 2021 900
NET BOOK VALUE
At 31 December 2021 900
At 31 December 2020 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings 3,878,548 3,697,458
Deferred tax asset 347,538 -
Prepayments and accrued income 623,822 604,343
4,849,908 4,301,801

The deferred tax asset relates to tax losses carried forward.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed to group undertakings 3,840,022 3,877,402
Other creditors 1,000 1,000
Accruals and deferred income 159,168 67,432
4,000,190 3,945,834

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Accruals and deferred income 222,164 259,791

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robin Lloyd FCA (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP

10. ULTIMATE PARENT COMPANY

The immediate parent company is BSR Group Holdings Limited, a company registered in England & Wales. Up until 17 March 2021 BSR Group Holdings Limited was also the ultimate parent company. From 17 March 2021, the ultimate parent company is Siem Industries S.A., a company incorporated in the Cayman Islands.

The largest group in which the results of the company are consolidated is that headed by Siem Industries S.A., a company incorporated in the Cayman Islands. Copies of the publicly available consolidated financial statements can be obtained from 36-38 Grand Rue, L-1660 Luxembourg, Grand Duchy of Luxembourg.

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