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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
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WEST KINGSMILL SOLAR LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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WEST KINGSMILL SOLAR LIMITED |
WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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WEST KINGSMILL SOLAR LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the company over the year was the generation of electricity using solar technology. |
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DIRECTORS |
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Other changes in directors holding office are as follows: |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2020 |
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31/3/20 | 31/3/19 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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OPERATING PROFIT/(LOSS) | 4 |
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Interest receivable and similar
income |
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PROFIT/(LOSS) BEFORE TAXATION |
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Tax on profit/(loss) |
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PROFIT/(LOSS) FOR THE
FINANCIAL YEAR |
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WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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BALANCE SHEET |
31 MARCH 2020 |
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31/3/20 | 31/3/19 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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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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Share premium | 8 |
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Retained earnings | 8 |
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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. |
WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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BALANCE SHEET - continued |
31 MARCH 2020 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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West Kingsmill Solar Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents income from the generation of the renewable electricity from the operational installations during the year, excluding Value Added Tax. Turnover is recognised in the period in which the electricity is generated. |
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Turnover is generated through the sale of electricity under Power Purchase Agreements and through the sale of Renewable Obligation Certificates from the UK Government's Renewable Obligation Scheme. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery - Straight line over 25 years |
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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. |
WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | OPERATING PROFIT/(LOSS) |
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The operating profit (2019 - operating loss) is stated after charging: |
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31/3/20 | 31/3/19 |
£ | £ |
Depreciation - owned assets |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Accrued income |
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WEST KINGSMILL SOLAR LIMITED (REGISTERED NUMBER: 08395446) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade creditors | ( |
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Other creditors |
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VAT creditor |
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Accruals and deferred income |
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8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 April 2019 |
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1,631,121 |
Profit for the year |
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At 31 March 2020 |
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1,678,721 |