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Registered number: 09337542
E6 ENERGY LIMITED
DIRECTORS' REPORT AND AUDITED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2020 TO 30 JUNE 2021
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E6 ENERGY LIMITED
COMPANY INFORMATION
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B V Corcoran (resigned 29 July 2021)
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T Costello (resigned 3 June 2020)
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I Greer (resigned 29 July 2021)
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L J B Roberts (appointed 29 July 2021)
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N A Wood (appointed 29 July 2021)
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KPMG Channel Islands Limited
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E6 ENERGY LIMITED
CONTENTS
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Independent auditor's report
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Statement of comprehensive Income and retained earnings
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Statement of comprehensive income
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Statement of financial position
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Notes to the financial statements
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E6 ENERGY LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 JUNE 2021
The directors present their report and the audited financial statements for the period from 1 January 2020 to 30 June 2021.
On 28 June 2021 the accounting reference period was extended so as to end on 30 June 2021 (an 18 month period), as such the previous year's figures are not fully comparable.
Principal activity
The Company has not traded during the current period or prior year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and Section 1A of FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice applicable to smaller entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙assess the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙ use the going concern basis of accounting unless they either intend to liquidate the company or to cease
operation, or have no realistic alternative but to do so.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are resonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities.
The directors who served during the period from 1 January 2020 up to the date of signing the financial statements were:
B V Corcoran (resigned 29 July 2021)
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T Costello (resigned 3 June 2020)
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I Greer (resigned 29 July 2021)
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N A Wood (appointed 29 July 2021)
L J B Roberts (appointed 29 July 2021)
Page 1
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E6 ENERGY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2021
Qualifying third party indemnity provisions
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The Company has made qualifying third party indemnity provisions for the benefit of its directors which were in force throughout the period and at the date of this report.
Disclosure of information to auditor
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Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Post statement of financial position events
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The share capital of the Company's parent company, Arena Capital Partners Limited was purchased by Arena Wind Holdings Limited on 16 December 2020. The share capital of Arena Wind Holdings Limited was purchased by New Road Wind Limited on 29 July 2021.
The auditors, KPMG Channel Islands Limited were appointed as auditors on 27 July 2021, have indicated their willingness to continue in office and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 2
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E6 ENERGY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E6 ENERGY LIMITED
We have audited the financial statements of E6 Energy Limited (the "Company"), which comprise the statement of financial position as at 30 June 2021, the statement of comprehensive income and retained earnings, for the period from 1 January 2020 to 30 June 2021, and notes, comprising significant accounting policies and other explanatory information.
In our opinion the accompanying financial statements:
∙give a true and fair view of the state of the Company's affairs as at 30 June 2021;
∙are properly prepared in accordance with United Kingdom accounting standards, including Section 1A of FRS 102 The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the Company in accordance with, UK ethical requirements including FRC Ethical Standards. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.
Other matter - prior period financial statements
We note that the prior period financial statements were not audited. Consequently ISAs (UK) require the auditor to state that the corresponding figures contained within these financial statements are unaudited. Our opinion is not modified in respect of this matter.
The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (the "going concern period").
In our evaluation of the directors' conclusions, we considered the inherent risks to the Company's business model and analysed how those risks might affect the Company's financial resources or ability to continue operations over the going concern period.
Our conclusions based on this work:
• we consider that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate; and
• we have not identified, and concur with the directors' assessment that there is not, a material uncertainty related to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for the going concern period.
However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the Company will continue in operation.
Page 3
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E6 ENERGY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E6 ENERGY LIMITED (CONTINUED)
Fraud and breaches of laws and regulations - ability to detect
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Identifying and responding to risks of material misstatement due to fraud
To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:
• enquiring of management as to the Company’s policies and procedures to prevent and detect fraud as well as enquiring whether management have knowledge of any actual, suspected or alleged fraud;
• reading minutes of meetings of those charged with governance; and
• using analytical procedures to identify any unusual or unexpected relationships.
As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because the Company did not earn any revenue for the period from 1 January 2020 to 30 June 2021. We did not identify any additional fraud risks.
We performed procedures including
• Identifying journal entries and other adjustments to test based on risk criteria and comparing any identified entries to supporting documentation; and
• incorporating an element of unpredictability in our audit procedures.
Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience and through discussion with management (as required by auditing standards), and discussed with management the policies and procedures regarding compliance with laws and regulations.
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
The Company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of litigation or impacts on the Company’s ability to operate. We identified company law as being the area most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of management and inspection of regulatory and legal correspondence, if any. Therefore if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.
Context of the ability of the audit to detect fraud or breaches of law or regulation
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remains a higher risk of non-detection of fraud, as this may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
Page 4
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E6 ENERGY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E6 ENERGY LIMITED (CONTINUED)
The directors are responsible for the directors' report. Our opinion on the financial statements does not cover that report and we do not express an audit opinion thereon.
Our responsibility is to read the directors' report and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work:
• we have not identified material misstatements in the directors' report;
• in our opinion the information given in that report for the financial year is consistent with the financial statements; and
• in our opinion that report has been prepared in accordance with the Companies Act 2006.
Matters on which we are required to report by exception
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Under the Companies Act 2006, we are required to report to you if, in our opinion:
•adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of directors’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a strategic report
We have nothing to report in these respects.
Respective responsibilities
Directors' responsibilities
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As explained more fully in their statement set out on page 2, the directors are responsible for: the preparation of the financial statements including being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Page 5
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E6 ENERGY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E6 ENERGY LIMITED (CONTINUED)
Auditor's responsibilities
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor’s report. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. .
A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities.
The purpose of our audit work and to whom we owe our responsibilities
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This report is made solely to the Company's member, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s member those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its member, as a body, for our audit work, for this report, or for the opinions we have formed.
Rachid Frihmat (Senior Statutory Auditor)
For and on behalf of KPMG Channel Islands Limited (Statutory Auditor)
Chartered Accountants
Guernsey
Date: 12 August 2022
Page 6
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E6 ENERGY LIMITED
STATEMENT OF COMPREHENSIVE INCOME STATEMENT AND RETAINED EARNING
FOR THE PERIOD FROM 1 JANUARY 2020 TO 30 JUNE 2021
The Company has not traded during the current period or prior year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.
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The notes on pages 9 to 10 form part of these financial statements.
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD FROM 1 JANAURY 2020 TO 30 JUNE 2021
Other comprehensive income
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Total comprehensive income for the period
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The notes on pages 9 to 10 form part of these financial statements.
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Page 7
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E6 ENERGY LIMITED
REGISTERED NUMBER: 09337542
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2021
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Debtors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 9 to 10 form part of these financial statements.
Page 8
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E6 ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2021
E6 Energy Limited ("the Company") is a private company limited by shares, registered in England and Wales. The company's registered office address is The Tramshed, 25 Lower Park Row, Bristol, BS1 5BN.
The company has remained dormant throughout the current period and prior year. The audit fees for the company are being paid by E5 Energy Limited.
On 28 June 2021 the accounting reference period was extended so as to end on 30 June 2021 (an 18 month period), as such the previous year's figures are not fully comparable.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of FRS 102, The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the requirements of the Companies Act 2006.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A small entities.
The company has taken advantage of the exemption as provided in paragraph 33.1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group undertakings.
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
• the requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv);
• the requirements of Section 7 Statement of Cash Flows;
• the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
• the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
• the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
• the requirements of Section 33 Related Party Disclosures paragraph 33.7.
The Company's presentational and functional currency is GBP.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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The average monthly number of employees, including directors, during the period was 2 (2019 - 3).
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Page 9
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E6 ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2021
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Called up share capital not paid
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Allotted, called up and fully paid
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6,560 (2019 - 6,560) Ordinary shares of £0.01 each
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The share capital of the Company's parent company, Arena Capital Partners Limited was purchased by Arena Wind Holdings Limited on 16 December 2020. The share capital of Arena Wind Holdings Limited was purchased by New Road Wind Limited on 29 July 2021.
The Company's immediate parent company is Arena Capital Partners Limited (a company registered in the UK).
The ultimate controlling party is Bluefield Solar Income Fund Limited (a company registered in Guernsey).
Page 10
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