Glen Tullich Hydro Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08944637 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

GLEN TULLICH HYDRO LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A Green

K M Parker

M F Cavalli

J M Rees

REGISTERED OFFICE:

c/o Lyon Group

Saddleworth Business Centre

Huddersfield Rd

Delph

Oldham

OL3 5DF

REGISTERED NUMBER:

08944637 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

National Westminister Bank Plc

68 Church Street

Lancaster

Lancashire

LA1 1LN

FIXED ASSETS

Intangible assets

3

260,779

260,779

Tangible assets

4

438,413

438,413

699,192

699,192

CURRENT ASSETS

Cash at bank and in hand

113

100

CREDITORS

Amounts falling due within one year

5

725,008

724,019

NET CURRENT LIABILITIES

(724,895

)

(723,919

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,703

)

(24,727

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(25,803

)

(24,827

)

SHAREHOLDERS' FUNDS

(25,703

)

(24,727

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2018 and were signed on its behalf by:

A Green - Director

1.	STATUTORY INFORMATION

Glen Tullich Hydro 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Included in intangible fixed assets are development costs in relation to the hydro system. The development costs

can be deferred to future periods provided that the costs are reasonably expected to be exceeded by future

revenues.

Amortisation of deferred development costs will commence with the commercial application of the system in

line with expected future revenues from the related project.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and any impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life.

Freehold land - not provided

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the

carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised

immediately in the profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not to exceed the amount that would have been determined had no

impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised

immediately in the profit or loss.

Taxation

Taxation for the year 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Financial instruments

Short term financial assets are measured at transaction price less any impairment. Short term financial liabilities

are measured at transaction price.

Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the

undiscounted amount due.

Associated undertaking loans payable and receivable are measured at the undiscounted amount due as they are

deemed to be repayable on demand.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

and 31 March 2018

260,779

NET BOOK VALUE

At 31 March 2018

260,779

At 31 March 2017

260,779

4.	TANGIBLE FIXED ASSETS

Freehold

land

£

COST

At 1 April 2017

and 31 March 2018

438,413

NET BOOK VALUE

At 31 March 2018

438,413

At 31 March 2017

438,413

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

12

Trade creditors

34,770

34,770

Amounts owed to group undertakings

671,094

571,093

Amounts owed to participating interests

15,144

15,144

Accrued expenses

4,000

103,000

725,008

724,019

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

7.	ULTIMATE PARENT COMPANY

8.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS 102 section 1A, as such the

Directors have concluded that there are no measurement differences on transition and accordingly no balances

have been restated.

The transition has not resulted in any changes in accounting policies to those previously used.