Newton Down Wind Holdco Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10786281 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

NEWTON DOWN WIND HOLDCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Murphy

Mr S J Speight

Mr N A Forster

SECRETARY:

FLB Company Secretarial Services Ltd

REGISTERED OFFICE:

250 Wharfedale Road

Winnersh Triangle

Wokingham

Berkshire

RG41 5TP

REGISTERED NUMBER:

10786281 (England and Wales)

INDEPENDENT AUDITORS:

Shipleys LLP, Statutory Auditor

10 Orange Street

Haymarket

London

WC2H 7DQ

FIXED ASSETS

Investments

5

9,132,643

9,132,643

CURRENT ASSETS

Debtors

6

736,221

458,496

CREDITORS

Amounts falling due within one year

7

(11,203,981

)

(10,364,432

)

NET CURRENT LIABILITIES

(10,467,760

)

(9,905,936

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,335,117

)

(773,293

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(1,335,118

)

(773,294

)

SHAREHOLDERS' FUNDS

(1,335,117

)

(773,293

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2020 and were signed on its behalf by:

Mr J Murphy - Director

1.	STATUTORY INFORMATION

Newton Down Wind Holdco 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.

The principal activity of the company is holding investments that operate renewable energy installations

("Renewable Projects") to generate renewable electricity.

The functional and presentational currency is considered to be pound sterling because that is the

currency of the primary economic environment in which the company operates. The financial

statements are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company is the parent undertaking of a small group and as such is not required by the

Companies Act 2016 to prepare group accounts. These financial statements therefore present

information about the Company as an individual undertaking and not about its group.

Going concern

We draw attention to the current Covid-19 pandemic and the potential economic impact the virus will

have in the coming months. The directors have considered the cash balance held by the company, and

the projected administrative and other costs for the forthcoming 12 months from the date of signing of

the financial statements, and consider there to be adequate resources in place. On this basis, the

company is considered to be a going concern.

The company incurred a loss for the year of £561,824 (2018: £567,917). At 31st December 2019, the

company held net current liabilities of £10,715,202 (2018: £9,905,936). The net liability position at 31st

December 2019 is the result of a shareholder loan, which is not expected to be repaid in the

foreseeable future.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgments,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that

period or in the period of the revision and future periods if the revision affects both current and future

periods.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

third parties, loans to related parties and investments in non-puttable ordinary shares.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic

financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract

is entered into and are subsequently re-measured at their fair value. Changes in the fair value of

derivatives are recognised in profit or loss in finance costs or income as appropriate. The company

does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Short term debtors are measured at transaction price, less any impairment.

Short term 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.

Taxation

Tax is recognised in the Income Statement, except that a charge attributable to an item of income and

expense recognised as other comprehensive income or to an item recognised directly in equity is also

recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted

or substantively enacted by the balance sheet date in the countries where the Company operates and

generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not

reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of

business combinations, when deferred tax is recognised on the differences between the fair values of

assets acquired and the future tax deductions available for them and the differences between the fair

values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined

using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Loans

Non-derivative financial liabilities with fixed or determinable repayments that are not quoted in an active

market are classified as loans. Loans are initially recognised at fair value of the consideration received

plus directly related transaction costs. They are subsequently measured at amortised cost using the

effective interest method. Arrangement fees and interest payable on financial liabilities that are

classified as loans, are charged to the profit and loss account.

The effective interest method is a method of calculating the amortised cost of a financial liability and of

allocating the interest payable over the expected life of the liability. The effective interest rate is the rate

that exactly discounts estimated future cashflows to the instrument's initial carrying amount.

Calculation of the effective interest rate takes into account fees payable, that are an integral part of the

instrument yield and transaction costs. All contractual terms of a financial instrument are considered

when estimating future cash flows.

A financial liability is removed from the balance sheet when the obligation is discharged, or cancelled,

or expires.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	AUDITORS' REMUNERATION

2019

2018

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

2,250

3,250

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 1 January 2019

and 31 December 2019

9,132,643

NET BOOK VALUE

At 31 December 2019

9,132,643

At 31 December 2018

9,132,643

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

736,220

458,495

Other debtors

1

1

736,221

458,496

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

10,949,540

10,361,732

Other creditors

254,441

2,700

11,203,981

10,364,432

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1.00

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2019

(773,294

)

Deficit for the year

(561,824

)

At 31 December 2019

(1,335,118

)

Profit and Loss Account

The Profit and Loss Account represents the cumulative profit or losses, net of dividends paid and other

adjustments.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

11.	IMMEDIATE CONTROLLING PARTY

At 31 December 2019, Ingenious Renewable Energy Limited, a company registered at 250 Wharfedale

Road, Winnersh Triangle, Wokingham, Berkshire, RG41 5TP, was the immediate parent company.