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Financial Statements for the Year Ended 31 March 2018 |
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Nenthead Mines Hydro Power Ltd |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2018 |
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for |
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Nenthead Mines Hydro Power Ltd |
Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Nenthead Mines Hydro Power Ltd |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Trading as Lee & Co |
Chartered Accountants & Statutory Auditors |
26 High Street |
Rickmansworth |
Hertfordshire |
WD3 1ER |
Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Nenthead Mines Hydro Power Ltd is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
Due to the nature of the company's principal activities, it is necessary for the directors to project |
and forecast several years in advance. The directors have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. |
The company therefore adopts the going concern basis in preparing its consolidated financial |
statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are |
measured initially at fair value, net of transaction costs and are measured subsequently at amortised |
cost using the effective interest method, less any impairment. |
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Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including |
bank loans, are measured initially at fair value, net of transaction costs, and are measured |
subsequently at amortised cost using the effective interest method. |
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Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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 year end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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3. | AUDITORS' REMUNERATION |
31.3.18 | 31.3.17 |
£ | £ |
Fees payable to the company's auditors for the audit of the
company's financial statements |
250 |
250 |
Auditors' remuneration for non audit work |
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Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.18 | 31.3.17 |
£ | £ |
Within one year |
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Nenthead Mines Hydro Power Ltd (Registered number: 04807081) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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7. | LEASING AGREEMENTS - continued |
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At the balance sheet date, the company had a land lease in place at £2,000 per annum which expires |
in 2093. The lease can be terminated with 9 months notice. |
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In the year, the company paid rent of £3,039 (2017: £2,929). |
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8. | RESERVES |
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The amount of retained earnings which are not distributable are £90,434 (2017: £92,814). |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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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. |