TRIODOS INVESTMENTS LIMITED

TRIODOS INVESTMENTS LIMITED

TRIODOS INVESTMENTS LIMITED - Company Information

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TRIODOS INVESTMENTS LIMITED

Company Registration Number:
02822816 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

TRIODOS INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

TRIODOS INVESTMENTS LIMITED

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Fixed assets
Investments: 3 239,942 236,929
Total fixed assets: 239,942 236,929
Current assets
Debtors:   3,733 5,593
Cash at bank and in hand: 9,733 509
Total current assets: 13,466 6,102
Creditors: amounts falling due within one year: 4 (3,455) (2,955)
Net current assets (liabilities): 10,011 3,147
Total assets less current liabilities: 249,953 240,076
Total net assets (liabilities): 249,953 240,076
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 248,953 239,076
Shareholders funds: 249,953 240,076

The notes form part of these financial statements

TRIODOS INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 July 2020
and signed on behalf of the board by:

Name: Richard Ingle
Status: Director

The notes form part of these financial statements

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Basis of preparationThe 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 financial statements are prepared in sterling, which is the functional currency of the entity.ConsolidationThe company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.InvestmentsInvestments that are publicly traded are measured at fair value with changes in fair value being recognised in profit or loss.Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.Impairment of fixed assetsA review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.Financial instrumentsA financial asset or a financial liability is recognised only when the entity 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.

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 0 0

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Fixed investments

InvestmentsCost:At 1 January 2019 (Restated) made up of Shares in group undertakings (£703,845) and other investments other than loans (£47,234) which has been revalued (£3,013) to total £50,247 as at 31 December 2019. Impairment: At 1 January 2019 (Restated) made up of Shares in group undertakings (£514,150), totalling £514,150 as at 31 December 2019. Carrying amount:At 1 January 2019 made up of Shares in group undertakings (£189,695) and other investments other than loans (£50,247) compared to the restated amounts from 31 December 2018 (£47,234). The company has a 100% holding of the ordinary share capital of its subsidiary, Triodos Nominees Limited, a company incorporated in England and Wales, which remains dormant.The company owns 100% of the ordinary share capital of Sun Roof Limited, a company incorporated in England and Wales, that produces electricity from photovoltaic systems. The company has provided a bank guarantee limited to £385,000 over all of its assets and undertakings present and future with regards to Sun Roof Limited bank liabilities with Triodos Bank. The carrying value of this investment has been reduced to the NPV of future cashflows.The market value of publicly traded investments owned by the company as at 31 December 2019 was £50,247 (2018: £47,234).

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Creditors: amounts falling due within one year note

The following are amounts falling due within one year to 'Other Creditors': 2019: £3,4552018: £2,955

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

5. Loans to directors

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

6. Changes in presentation and prior period adjustments

During the period the directors identified that in prior periods publicly traded assets that were not listed were measured at cost less any accumulated impairment losses. As these are publicly traded and their fair value can be measured reliably these should be measured at fair value. The directors have therefore restated the 2018 Statement of Income and Retained Earnings and Statement of Financial Position to reflect this.

TRIODOS INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

7. Related party transactions

Name of the related party: Triodos Bank N.V.
Relationship:
Shared key management
Description of the Transaction: Triodos Bank N.V. is Triodos Bank UK Limited’s parent company and ultimate controlling party. At 31 December 2019 the company held depository receipts in Triodos Bank N.V. with a value of £34,292, and during 2019 the company received dividends of £6,169 from these depository receipts.
£
Balance at 01 January 2019 34,292
Balance at 31 December 2019 34,292

The company’s directors are employees of Triodos Bank UK Limited, including Bevis Watts, who is the CEO of Triodos Bank UK Limited. As at 31 December 2019 the company’s cash of £9,733 is held on accounts with Triodos Bank UK Limited, and included within Creditors is £2,955 owed to Triodos Bank UK Limited.Triodos Bank N.V. is Triodos Bank UK Limited’s parent company and ultimate controlling party. At 31 December 2019 the company held depository receipts in Triodos Bank N.V. with a value of £34,292, and during 2019 the company received dividends of £6,169 from these depository receipts.The company had no other transactions with related parties during the year.