REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
FOR |
SHIELBOG RENEWABLES LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
FOR |
SHIELBOG RENEWABLES LLP |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 APRIL 2021 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
SHIELBOG RENEWABLES LLP |
GENERAL INFORMATION |
for the year ended 30 APRIL 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
427,282 |
463,315 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
78,364 |
44,397 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 348,918 | 418,918 |
427,282 | 463,315 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 78,364 | 44,397 |
Members' other interests | 348,918 | 418,918 |
Amounts due from members | 5 | (1,237 | ) | (4,345 | ) |
426,045 | 458,970 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2021 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 APRIL 2021 |
1. | STATUTORY INFORMATION |
Shielbog Renewables Llp is registered in Scotland, registration number SO304056. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH. |
The principal activity of the LLP is renewable energy. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Significant judgements and estimates |
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements: |
Plant and equipment |
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the LLP's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes. |
Turnover |
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes. |
Production of electricity |
Income is recognised in the period in which the electricity has been generated. |
Tangible fixed assets |
Plant and machinery etc | - |
The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable. |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 APRIL 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances. |
Creditors |
Short term trade creditors are measured at the transaction price. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2020 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2020 |
and 30 April 2021 |
DEPRECIATION |
At 1 May 2020 |
Charge for year |
At 30 April 2021 |
NET BOOK VALUE |
At 30 April 2021 |
At 30 April 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
SHIELBOG RENEWABLES LLP (REGISTERED NUMBER: SO304056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 APRIL 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests. |
8. | RELATED PARTY DISCLOSURES |
During the year, rent to the value of £9,083 was paid to Shielbog Energy Ltd, a company in which Mr & Mrs Barron are directors. |