West Kingsmill Solar Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08395446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

WEST KINGSMILL SOLAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Robertson

Thames Street Services Limited

REGISTERED OFFICE:

6th Floor, St Magnus House

3 Lower Thames Street

London

EC3R 6HD

REGISTERED NUMBER:

08395446 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,122,961

1,208,166

CURRENT ASSETS

Debtors

5

670,616

507,054

Cash at bank

20,175

27,866

690,791

534,920

CREDITORS

Amounts falling due within one year

6

(45,029

)

(47,373

)

NET CURRENT ASSETS

645,762

487,547

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,768,723

1,695,713

CAPITAL AND RESERVES

Called up share capital

7

16,992

Share premium

8

1,614,192

Retained earnings

8

137,539

64,529

SHAREHOLDERS' FUNDS

1,768,723

1,695,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2021 and were signed on its behalf by:

Thames Street Services Limited - Director

1.	STATUTORY INFORMATION

West Kingsmill Solar 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.

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.

Turnover

Turnover represents income from the generation of the renewable electricity from the operational installations during the year, excluding Value Added Tax. Turnover is recognised in the period in which the electricity is generated.

Turnover is generated through the sale of electricity under Power Purchase Agreements and through the sale of Renewable Obligation Certificates from the UK Government's Renewable Obligation Scheme.

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 25 years

Financial instruments

Financial instruments are recognised in the company's balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

The directors have reviewed the performance of the Company during the year as set out in these accounts and, after taking account of possible changes that can reasonable be envisaged in trading performance, have considered the cash flow forecasts and future liquidity requirements of the company.

Having regard to the above and after making enquires the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of signing the accounts. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Cash and cash equivalents

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of the acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

1,704,102

DEPRECIATION

At 1 April 2020

495,936

Charge for year

85,205

At 31 March 2021

581,141

NET BOOK VALUE

At 31 March 2021

1,122,961

At 31 March 2020

1,208,166

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

Trade debtors

7,740

8,805

Amounts owed by group undertakings

622,883

456,883

Prepayments

649

528

Accrued income

39,344

40,838

670,616

507,054

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

Trade creditors

243

(1,167

)

Other creditors

3,434

VAT creditor

17,103

18,398

Accruals and deferred income

24,249

26,708

45,029

47,373

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

1

Ordinary

0.01

16,992

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 April 2020

64,529

1,614,192

1,678,721

Profit for the year

73,010

At 31 March 2021

137,539

1,614,192

1,751,731

9.	RELATED PARTY DISCLOSURES

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.

10.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Juno Holdings Limited, a company incorporated in England and Wales.

The Company's ultimate parent and controlling entity is Bagnall Energy Limited, a company incorporated in England and Wales. The consolidated financial statements of Bagnall Energy Limited can be obtained from that company's registered office: 6th Floor, St Magnus House, 3 Lower Thames Street, London, England, EC3R 6HD.

West Kingsmill Solar Limited - Accounts to registrar (filleted) - small 18.2

West Kingsmill Solar Limited - Accounts to registrar (filleted) - small 18.2