FS Tope Limited - Limited company accounts 18.2

REGISTERED NUMBER: 09115686 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2018

for

FS Tope Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

G E Shaw

Pinecroft Corporate Services Limited

REGISTERED OFFICE:

C/O Foresight Group LLP

The Shard

32 London Bridge Street

London

SE1 9SG

REGISTERED NUMBER:

09115686 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 30 September 2018.

PRINCIPAL ACTIVITY

The Company owns Tope Farm Solar Limited, which owns and operates a solar energy generating

plant.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2017 to

the date of this report.

G E Shaw

Pinecroft Corporate Services Limited

Other changes in directors holding office are as follows:

E J Halpin - resigned 6 December 2017

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

G E Shaw - Director

7 March 2019

TURNOVER

-

Administrative expenses

(15,131

)

(61,627

)

OPERATING LOSS

(15,131

)

(61,627

)

Interest receivable and similar
income

352,324

352,405

337,193

290,778

Interest payable and similar
expenses

(69,198

)

(79,576

)

PROFIT BEFORE TAXATION

267,995

211,202

Tax on profit

-

13,046

PROFIT FOR THE FINANCIAL YEAR

267,995

224,248

FIXED ASSETS

Investments

4

4,787,005

CURRENT ASSETS

Debtors

5

1,016,828

675,913

Cash at bank

135

140

1,016,963

676,053

CREDITORS

Amounts falling due within one year

6

(192,048

)

(119,133

)

NET CURRENT ASSETS

824,915

556,920

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,611,920

5,343,925

CREDITORS

Amounts falling due after more than
one year

7

(768,862

)

(768,862

)

NET ASSETS

4,843,058

4,575,063

CAPITAL AND RESERVES

Called up share capital

35,880

Share premium

3,580,277

Revaluation reserve

8

610,042

Retained earnings

616,859

348,864

4,843,058

4,575,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 7 March 2019 and were
signed on its behalf by:

G E Shaw - Director

1.	STATUTORY INFORMATION

FS Tope 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

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.

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 year was NIL (2017 - NIL).

4.	FIXED ASSET INVESTMENTS

30.9.18

30.9.17

£

Shares in group undertakings

872,294

Loans to group undertakings

3,914,711

4,787,005

Additional information is as follows:

Shares in

subsidiary

£

COST

At 1 October 2017

and 30 September 2018

872,294

NET BOOK VALUE

At 30 September 2018

872,294

At 30 September 2017

872,294

Loan to

subsidiary

£

At 1 October 2017

and 30 September 2018

3,914,711

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

Other debtors

1,016,828

675,913

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

Trade creditors

189,748

118,533

Other creditors

2,300

600

192,048

119,133

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

30.9.18

30.9.17

£

Other creditors

768,862

8.

RESERVES

Revaluatio

reserve

£

At 1 October 2017

and 30 September 2018

610,042

9.	RELATED PARTY DISCLOSURES

Foresight Group LLP is considered to be a related party by virtue of the fact that the

directors of Foresight Group LLP, Gary Fraser and David Hughes, are also directors of

Pinecroft Corporate Services limited, which is in turn a corporate director of the Company.

Foresight Group LLP invoiced the Company £13,809 including VAT during the course of the

year of which £2,106 including VAT was outstanding at the year end.

Tope Farm Solar Limited is a wholly owned subsidiary of FS Tope Limited. There was a

loan of £3,914,711 from FS Tope Limited to Tope Solar Farm Limited, which was

outstanding at the year end . There was £352,324 of interest incurred on the loan during the

period, with £1,015,628 outstanding at the year end.

FS Tope Limited is a wholly owned subsidiary of Averon Park Limited. There was a loan of

£768,862 from Averon PArk Limited to FS Tope Limited, which was outstanding at the year

end. There was £69,198 of interest incurred on the loan during the period with £187,732

outstanding at the year end.

10.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no ultimate controlling party.