| Myreton Renewable Energy Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Myreton Renewable Energy Limited for the year ended 31 December 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Myreton Renewable Energy Limited for the year ended 31 December 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Myreton Renewable Energy Limited, as a body, in accordance with the terms of our engagement letter dated 26 October 2011. Our work has been undertaken solely to prepare for your approval the accounts of Myreton Renewable Energy Limited and state those matters that we have agreed to state to the Board of Directors of Myreton Renewable Energy Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Myreton Renewable Energy Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Myreton Renewable Energy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Myreton Renewable Energy Limited. You consider that Myreton Renewable Energy Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Myreton Renewable Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| Greenbank Asset Management Limited |
| Chartered Accountants |
| 6c Canaan Lane |
| Edinburgh |
| EH10 4SY |
|
| 7 June 2016 |
|
| Myreton Renewable Energy Limited |
| Registered number: |
SC344891 |
| Abbreviated Balance Sheet |
| as at 31 December 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,611,633 |
|
|
1,718,510 |
|
| Current assets |
| Debtors |
|
|
198,809 |
|
|
72,283 |
| Cash at bank and in hand |
|
|
172,980 |
|
|
179,809 |
|
|
|
371,789 |
|
|
252,092 |
|
| Creditors: amounts falling due within one year |
|
|
(155,314) |
|
|
(75,981) |
|
| Net current assets |
|
|
|
216,475 |
|
|
176,111 |
|
| Total assets less current liabilities |
|
|
|
1,828,108 |
|
|
1,894,621 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(1,448,201) |
|
|
(1,526,530) |
|
| Provisions for liabilities |
|
|
|
(116,176) |
|
|
(79,274) |
|
|
| Net assets |
|
|
|
263,731 |
|
|
288,817 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
142 |
|
|
142 |
| Share premium |
|
|
|
261,452 |
|
|
261,452 |
| Profit and loss account |
|
|
|
2,137 |
|
|
27,223 |
|
| Shareholders' funds |
|
|
|
263,731 |
|
|
288,817 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| J Waxman |
| Director |
| Approved by the board on 7 June 2016 |
|
| Myreton Renewable Energy Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
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. |
|
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2015 |
1,953,746 |
|
Additions |
12,000 |
|
Disposals |
(37,748) |
|
At 31 December 2015 |
1,927,998 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2015 |
235,236 |
|
Charge for the year |
81,129 |
|
At 31 December 2015 |
316,365 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2015 |
1,611,633 |
|
At 31 December 2014 |
1,718,510 |
|
|
|
|
|
|
|
|
| 3 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
1,116,246 |
|
1,215,081 |
|
Secured bank loans |
1,159,827 |
|
1,226,046 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£0.001 each |
|
142,280 |
|
142 |
|
142 |
|
|
|
|
|
|
|
|
|
