Tulnagall Wind Ltd

Tulnagall Wind Ltd

TULNAGALL WIND LTD - Company Information

Print Friendly Version

1 July 2021 false No description of principal activity Taxfiler 2023.3 NI633630business:PrivateLimitedCompanyLtd2021-07-012022-06-30 NI6336302021-06-30 NI6336302021-07-012022-06-30 NI633630business:AuditExempt-NoAccountantsReport2021-07-012022-06-30 NI633630business:FullAccounts2021-07-012022-06-30 NI6336302022-06-30 NI633630business:Director12021-07-012022-06-30 NI633630business:Director22021-07-012022-06-30 NI633630business:RegisteredOffice2021-07-012022-06-30 NI6336302021-06-30 NI633630core:WithinOneYear2022-06-30 NI633630core:WithinOneYear2021-06-30 NI633630core:ShareCapital2022-06-30 NI633630core:ShareCapital2021-06-30 NI633630core:SharePremium2022-06-30 NI633630core:SharePremium2021-06-30 NI633630core:RetainedEarningsAccumulatedLosses2022-06-30 NI633630core:RetainedEarningsAccumulatedLosses2021-06-30 NI633630business:SmallEntities2021-07-012022-06-30 NI633630countries:NorthernIreland2021-07-012022-06-30 NI633630core:PlantMachinery2021-06-30 NI633630core:PlantMachinery2022-06-30 NI633630core:PlantMachinery2021-07-012022-06-30 NI6336302021-01-012021-06-30 iso4217:GBP xbrli:pure
Company Registration No. NI633630 (Northern Ireland)
Tulnagall Wind Ltd Unaudited accounts for the year ended 30 June 2022
Tulnagall Wind Ltd Unaudited accounts Contents
Page
- 2 -
Tulnagall Wind Ltd Company Information for the year ended 30 June 2022
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 30 June 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
426,543 
458,139 
Current assets
Debtors
5
76,036 
43,072 
Cash at bank and in hand
3,438 
9,650 
79,474 
52,722 
Creditors: amounts falling due within one year
6
(20,455)
(8,699)
Net current assets
59,019 
44,023 
Total assets less current liabilities
485,562 
502,162 
Provisions for liabilities
Deferred tax
(22,037)
(18,290)
Net assets
463,525 
483,872 
Capital and reserves
Called up share capital
200 
200 
Share premium
453,048 
452,813 
Profit and loss account
10,277 
30,859 
Shareholders' funds
463,525 
483,872 
For the year ending 30 June 2022 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 27 March 2023 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 30 June 2022
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 30 June 2022
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 July 2021
631,916 
At 30 June 2022
631,916 
Depreciation
At 1 July 2021
173,777 
Charge for the year
31,596 
At 30 June 2022
205,373 
Net book value
At 30 June 2022
426,543 
At 30 June 2021
458,139 
- 6 -
Tulnagall Wind Ltd Notes to the Accounts for the year ended 30 June 2022
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
54,581 
22,802 
Amounts due from group undertakings etc.
19,834 
18,243 
Accrued income and prepayments
1,621 
1,827 
Other debtors
- 
200 
76,036 
43,072 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
844 
311 
Amounts owed to group undertakings and other participating interests
2,088 
2,413 
Taxes and social security
- 
1,056 
Accruals
17,523 
4,919 
20,455 
8,699 
7
Transactions with related parties
During the period the Company lent to Mountjoy Wind Ltd, a related party, in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2022 is £2,000 (2021: £nil). During the period the Company lent to WRIF Holdco C Ltd, a related party, in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2022 is £16,093 (2021: £18,243). During the period the Company lent to Wind Renewables Income Fund, a related party, in order to provide funding for working capital, on an interest-free basis, unsecured and repayable on demand. The balance outstanding at 30 June 2022 is £1,741 (2021: amount payable of £365). Amounts owed to group undertakings and other participating interests include intercompany management fees owed to Wind Renewables Income Fund. The management fees for the period total £4,176 (2021: £2,048) with an amount remaining payable at the period end of £2,088 (2021: £2,048).
8
Controlling party
The controlling party is WRIF Holdco C Ltd. The ultimate controlling party of the Company is Wind Renewables Income Fund.
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).
- 7 -