EDEN_SUSTAINABLE_INVESTME - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Eden Sustainable Investments 7 (Gaia) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 28 Queen Street, London, EC4R 1BB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company meets its day to day working capital requirements through continued financial support from its parent company. The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows.true

On the basis of continued support from its parent company, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this loan.

Turnover represents amounts receivable for the generation, sale and export of electricity net of VAT and trade discounts.

Generation

Revenue from the generation and sale of electricity is recognised based on meter readings taken periodically at customer properties and rates per unit of usage as agreed in Power Purchase Agreement contracts.

Where electricity is provided to customers at a discount the revenue recognised is adjusted to a market rate, with the difference deemed to relate to rental charges for use of the customers premises.

Export and Feed in Tariff

Income from the export of electricity to the National Grid and the Feed in Tariff (FiT) are recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Income is accrued with reference to electricity units generated and agreed export and FiT rates.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

Amounts owed to group undertakings includes a balance of £97,141 (2018: £97,141) in connection with a group financing arrangement with a third party lender. The borrowings are secured on a fixed and floating charge over the company's assets.

Prior year adjustments have been made and the comparative profit and loss account and balance sheet restated, as detailed below:

Intra-group management charges totalling £18,590, for the year ended 31 October 2018, should have been accrued for in the prior year financial statements. An adjustment had been made to restate the comparative figures.