Graphite Enterprises (DEP) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06441381 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2016 to 31 December 2017

for

Graphite Enterprises (DEP) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N. R. King

A. P. Foreman

SECRETARY:

N. R. King

REGISTERED OFFICE:

Derwenthaugh Eco Park

Derwenthaugh Road

Swalwell

Newcastle-upon-Tyne

NE16 3BJ

REGISTERED NUMBER:

06441381 (England and Wales)

ACCOUNTANTS:

ESR Accountancy Limited

Tickton Hall

Tickton

Beverley

East Yorkshire

HU17 9RX

FIXED ASSETS

Tangible assets

4

13,500,000

7,500,000

CREDITORS

Amounts falling due within one year

5

7,885

7,835

NET CURRENT LIABILITIES

(7,885

)

(7,835

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,492,115

7,492,165

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

6

12,000,000

6,000,000

Retained earnings

1,492,113

1,492,163

SHAREHOLDERS' FUNDS

13,492,115

7,492,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25 April 2018 and were signed on its behalf by:

A. P. Foreman - Director

1.	STATUTORY INFORMATION

Graphite Enterprises (DEP) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These are the first financial statements after transitioning to FRS from the previous financial reporting

framework. The transition had no affect on the financial position or performance of the company, only

disclosure. No reconciliations are required of its equity at the date of transition or for the end of the latest

period presented in the company's most recent financial statements determined in accordance with its

previous financial reporting framework. No reconciliation of the profit determined in accordance with its

previous financial reporting framework for the latest period in the company's most recent annual financial

statements to its profit determined in accordance with FRS reporting for the same period is required.

This position includes a consideration that no deferred tax is required to be accounted for on revaluation since

unrelieved tax losses are substantially more than any potential deferred tax liability.

Tangible fixed assets

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

Land and buildings

-

not provided

The directors have taken the decision that freehold property should not currently be depreciated, which is

supported by the increase in value in recent revaluations.

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. It is only recognised to the extent that it is not covered by available unrelieved tax losses

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 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 July 2016

8,082,000

Revaluations

6,000,000

At 31 December 2017

14,082,000

DEPRECIATION

At 1 July 2016

and 31 December 2017

582,000

NET BOOK VALUE

At 31 December 2017

13,500,000

At 30 June 2016

7,500,000

Cost or valuation at 31 December 2017 is represented by:

Freehold

property

£

Valuation in 2016

6,000,000

Valuation in 2017

6,000,000

Cost

2,082,000

14,082,000

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.17

30.6.16

£

£

Cost

2,082,000

2,082,000

Aggregate depreciation

582,000

582,000

Value of land in freehold land and buildings

1,500,000

1,500,000

Freehold land and buildings were valued on an open market basis on 25 May 2016 by Lambert Smith Hampton

.

The Gateshead Battery Energy Storage Project and Gateshead Reserve Power Project were valued on 3rd

November, 2017 by independent commercial valuers Jones Lang LaSalle Limited. They provided a current

market value of the Project in Gateshead, Newcastle which has existing planning consent and is deemed to be

'construction ready'.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

30.6.16

£

£

Amounts owed to group undertakings

7,885

7,835

6.

RESERVES

Revaluation

reserve

£

At 1 July 2016

6,000,000

Revaluations

6,000,000

At 31 December 2017

12,000,000

7.	PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Catfoss Renewables Ltd.