Gorst Energy Limited - Period Ending 2016-03-31

 
 
 
 
 
 
 
  Gorst Energy Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2016
 
  Company Registration Number: 09001800

Gorst Energy Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Gorst Energy Limited
Abbreviated Balance Sheet
31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets		2			10,283,883			5,086,255
Current assets
Stocks					877,948			-
Debtors					1,132,288			1,141,733
Cash at bank and in hand					127,072			1,413,595
					2,137,308			2,555,328
Creditors: Amounts falling due within one year					(987,430)			(433,801)
Net current assets					1,149,878			2,121,527
Total assets less current liabilities					11,433,761			7,207,782
Creditors: Amounts falling due after more than one year					(8,641,872)			(2,735,749)
Net assets					2,791,889			4,472,033
Capital and reserves
Called up share capital		4			100,002			100,002
Share premium account					4,750,000			4,750,000
Profit and loss account					(2,058,113)			(377,969)
Shareholders' funds					2,791,889			4,472,033

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Gorst Energy Limited
Abbreviated Balance Sheet
31 March 2016 ......... continued

For the year ending 31 March 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 3 October 2016 and signed on its behalf by:

Mr W K Reed
Director

Company Registration Number: 09001800

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Gorst Energy Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of electricity to customers and the trading of feedstock.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		5,086,255			5,086,255
Additions		5,197,628			5,197,628
At 31 March 2016		10,283,883			10,283,883
Depreciation
At 31 March 2016		-			-
Net book value
At 31 March 2016		10,283,883			10,283,883
At 31 March 2015		5,086,255			5,086,255

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 March 2016 £			31 March 2015 £
Amounts falling due after more than one year		8,641,872			2,735,749

Page 3

Gorst Energy Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

4	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary A shares of £0.01 each		5,000,100			50,001			5,000,100			50,001
Ordinary B shares of £0.01 each		5,000,100			50,001			5,000,100			50,001
		10,000,200			100,002			10,000,200			100,002

The Ordinary A shares and Ordinary B shares rank equally in respect of voting rights and distributions.

Page 4