Solar Power Generation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08415124 (England and Wales)

SOLAR POWER GENERATION LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K R Ross

C S S Bondi

G Phillips

REGISTERED OFFICE:

35 and 35A The Maltings

Lower Charlton Trading Estate

Shepton Mallet

Somerset

BA4 5QE

REGISTERED NUMBER:

08415124 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

FIXED ASSETS

Tangible assets

3

-

7,498

Investments

4

1,000

2,500

1,000

9,998

CURRENT ASSETS

Debtors

5

4,031,346

11,573,514

Cash at bank

120

2,024,812

4,031,466

13,598,326

CREDITORS

Amounts falling due within one year

6

3,756,190

4,503,345

NET CURRENT ASSETS

275,276

9,094,981

TOTAL ASSETS LESS CURRENT LIABILITIES

276,276

9,104,979

CREDITORS

Amounts falling due after more than one year

7

275,667

264,535

NET ASSETS

609

8,840,444

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

607

8,840,442

SHAREHOLDERS' FUNDS

609

8,840,444

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2020 and were signed on its behalf by:

G Phillips - Director

1.	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 presentation currency is £ sterling.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reports for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The directors consider there to be no significant judgements or estimates used in the preparation of the accounts.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery

33% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

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 Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.	EMPLOYEES AND DIRECTORS

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

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2019

and 31 December 2019

59,986

DEPRECIATION

At 1 January 2019

52,488

Charge for year

7,498

At 31 December 2019

59,986

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

7,498

The net book value of tangible fixed assets includes £NIL (2018 - £ 7,498 ) in respect of assets held under hire purchase contracts.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

2,500

Disposals

(1,500

)

At 31 December 2019

1,000

NET BOOK VALUE

At 31 December 2019

1,000

At 31 December 2018

2,500

The company has a 100% ownership interest in 8 (2018: 21) dormant companies, a 50% ownership interest in 1 (2018: 1) holding company and a 100% ownership interest in 1 (2018: 1) holding company.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

3,586,133

6,338,186

Other loans

-

4,740,881

Prepayments and accrued income

445,213

494,447

4,031,346

11,573,514

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

7,498

Trade creditors

-

35,284

Amounts owed to group undertakings

3,687,686

4,309,121

Other creditors

1,000

2,300

Accruals and deferred income

67,504

149,142

3,756,190

4,503,345

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Accruals and deferred income

275,667

264,535

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

The Report of the Auditors was unqualified.

Robin Lloyd FCA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

9.	ULTIMATE PARENT COMPANY

The company is a subsidiary of BSR Group Holdings Limited which is the ultimate parent company.

The largest and smallest group in which the results of the company are consolidated is that headed by BSR Group Holdings Limited, incorporated in England & Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company.