Tulnagall Wind Ltd

Tulnagall Wind Ltd

TULNAGALL WIND LTD - Company Information

Print Friendly Version

1 January 2020 false No description of principal activity Taxfiler 2021.11 NI633630business:PrivateLimitedCompanyLtd2020-01-012020-12-31 NI6336302019-12-31 NI6336302020-01-012020-12-31 NI633630business:AuditExempt-NoAccountantsReport2020-01-012020-12-31 NI633630business:FullAccounts2020-01-012020-12-31 NI6336302020-12-31 NI633630business:Director32020-01-012020-12-31 NI633630business:Director42020-01-012020-12-31 NI633630business:RegisteredOffice2020-01-012020-12-31 NI6336302019-12-31 NI633630core:WithinOneYear2020-12-31 NI633630core:WithinOneYear2019-12-31 NI633630core:AfterOneYear2020-12-31 NI633630core:AfterOneYear2019-12-31 NI633630core:ShareCapital2020-12-31 NI633630core:ShareCapital2019-12-31 NI633630core:RetainedEarningsAccumulatedLosses2020-12-31 NI633630core:RetainedEarningsAccumulatedLosses2019-12-31 NI633630business:SmallEntities2020-01-012020-12-31 NI633630countries:NorthernIreland2020-01-012020-12-31 NI633630core:PlantMachinery2019-12-31 NI633630core:PlantMachinery2020-12-31 NI633630core:PlantMachinery2020-01-012020-12-31 NI63363012020-01-012020-12-31 NI6336302019-01-012019-12-31 iso4217:GBP xbrli:pure
Company Registration No. NI633630 (Northern Ireland)
Tulnagall Wind Ltd Unaudited accounts for the year ended 31 December 2020
Tulnagall Wind Ltd Unaudited accounts Contents
Page
- 2 -
Tulnagall Wind Ltd Company Information for the year ended 31 December 2020
Directors
William Laugharne Morgan Karl Philip Devon-Lowe
Company Number
NI633630 (Northern Ireland)
Registered Office
UNIT 710 MOAT HOUSE 54 BLOOMFIELD AVENUE BELFAST BT5 5AD NORTHERN IRELAND
- 3 -
Tulnagall Wind Ltd Statement of financial position as at 31 December 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
473,937 
505,532 
Current assets
Debtors
5
42,769 
27,916 
Cash at bank and in hand
20,749 
18,276 
63,518 
46,192 
Creditors: amounts falling due within one year
6
(110,065)
(71,709)
Net current liabilities
(46,547)
(25,517)
Total assets less current liabilities
427,390 
480,015 
Creditors: amounts falling due after more than one year
7
(388,931)
(458,871)
Provisions for liabilities
Deferred tax
(14,549)
- 
Net assets
23,910 
21,144 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
23,710 
20,944 
Shareholders' funds
23,910 
21,144 
For the year ending 31 December 2020 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.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2021 and were signed on its behalf by
William Laugharne Morgan Director Company Registration No. NI633630
- 4 -
Tulnagall Wind Ltd Notes to the Accounts for the year ended 31 December 2020
1
Statutory information
Tulnagall Wind Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI633630. The registered office is UNIT 710 MOAT HOUSE, 54 BLOOMFIELD AVENUE, BELFAST, BT5 5AD, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Tangible 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
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
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised as transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
- 5 -
Tulnagall Wind Ltd Notes to the Accounts for the year ended 31 December 2020
Taxation
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.
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.
Leased assets
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.
Expenses
Expenses are recognised in the Income Statement on an accruals basis in the period in which they are incurred.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2020
631,916 
At 31 December 2020
631,916 
Depreciation
At 1 January 2020
126,384 
Charge for the year
31,595 
At 31 December 2020
157,979 
Net book value
At 31 December 2020
473,937 
At 31 December 2019
505,532 
5
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
29,263 
27,916 
Accrued income and prepayments
13,306 
- 
Other debtors
200 
- 
42,769 
27,916 
- 6 -
Tulnagall Wind Ltd Notes to the Accounts for the year ended 31 December 2020
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
103,604 
56,313 
VAT
1,319 
898 
Taxes and social security
1,056 
- 
Accruals
4,086 
14,498 
110,065 
71,709 
7
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
388,931 
458,871 
8
Post balance sheet events
On 2 March 2021 the entire share capital of the Company was purchased by WRIF Holdco C Ltd.
9
Average number of employees
During the year the average number of employees was 0 (2019: 0).
- 7 -