Hagshaw Hill Repowering Ltd Filleted accounts for Companies House (small and micro)

HAGSHAW HILL REPOWERING LTD - Company Information

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COMPANY REGISTRATION NUMBER: SC603085

Hagshaw Hill Repowering Ltd

Filleted Unaudited Abridged Financial Statements

For the period ended

31 March 2020

Hagshaw Hill Repowering Ltd

Abridged Financial Statements

Year ended 31 March 2020

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Hagshaw Hill Repowering Ltd

Abridged Statement of Financial Position

31 March 2020

	2020	2019
Note	£	£

Current assets

Debtors	662,263	73,140
Cash at bank and in hand	35	–
	---------	--------
	662,298	73,140

Creditors: amounts falling due within one year	663,220	73,940
	---------	--------
Net current liabilities	922	800
	----	----
Total assets less current liabilities	922	800
	----	----
Net liabilities	922	800
	----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,022	900
	-------	----
Shareholder deficit	922	800
	-------	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Hagshaw Hill Repowering Ltd

Abridged Statement of Financial Position (continued)

31 March 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 1 April 2020 , and are signed on behalf of the board by:

Mr W Mitchell	Mr J Mitchell
Director	Director

Company registration number: SC603085

Hagshaw Hill Repowering Ltd

Notes to the Abridged Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is I A Stewart & Co,, The Mechanics Workshop, New Lanark, Lanark, Lanarkshire, ML11 9DB, United Kingdom.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has been financed with a loan from a company owned and controlled by the directors. In the opinion of the directors the company is a going concern.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Staff

The average number of persons employed by the company during the period, amounted to Nil.

5. Related party transactions

During the year Mitchell Energy Ltd, a group company , advanced a loan of £589,780 to the company. The amount outstanding at the year-end was £663,220.