GM Preston Solar Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14001003 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

24 MARCH 2022 TO 31 DECEMBER 2022

FOR

GM PRESTON SOLAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J M Gardner

T V Gartner

E A Erdal

REGISTERED OFFICE:

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

REGISTERED NUMBER:

14001003 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

151,436

CURRENT ASSETS

Debtors

5

17,049

Cash at bank

125,579

142,628

CREDITORS

Amounts falling due within one year

6

296,230

NET CURRENT LIABILITIES

(153,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,166

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(2,266

)

SHAREHOLDERS' FUNDS

(2,166

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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 5 December 2023 and were signed on its behalf by:

L J M Gardner - Director

1.	STATUTORY INFORMATION

GM Preston Solar Limited is a private company, limited by shares, registered in England. The registered number of the company is 14001003 and the registered office is at Beckside Court, Annie Reed Road, Beverley, East Yorkshire, England, HU17 0LF.

The financial statements are presented in the Pound Sterling (£) as this is the functional currency of business activities.

The principal activity of the company is the production of electricity.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence

for the foreseeable future.

Tangible fixed assets

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

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

151,436

At 31 December 2022

151,436

NET BOOK VALUE

At 31 December 2022

151,436

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

17,049

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

32,771

Amounts owed to group undertakings

210,127

Other creditors

53,332

296,230

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Magnora UK PV Holding Limited.

Magnora UK PV Holding Limited has registration number 06891143 and has its registered office at 2 Marischal Square, Broad Street, Aberdeen, Scotland, AB10 1DQ.