Sandwell Power Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09854164 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2020 to 31 December 2020

for

Sandwell Power Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R J Quinlan

K S Gains

SECRETARY:

Miss P Tapley

REGISTERED OFFICE:

1030 Centre Park

Slutchers Lane

Warrington

Cheshire

WA1 1QL

REGISTERED NUMBER:

09854164 (England and Wales)

ACCOUNTANTS:

Eagle Accountancy (UK) Limited

2 Coracle Offices

St Catherine Street

Carmarthen

Carmarthenshire

SA31 1RD

FIXED ASSETS

Tangible assets

4

10,967,876

8,923,694

CURRENT ASSETS

Debtors

5

2,457,848

2,407,806

Cash at bank

73

136

2,457,921

2,407,942

CREDITORS

Amounts falling due within one year

6

13,612,935

11,453,447

NET CURRENT LIABILITIES

(11,155,014

)

(9,045,505

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(187,138

)

(121,811

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(187,139

)

(121,812

)

SHAREHOLDERS' FUNDS

(187,138

)

(121,811

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 September 2022 and were signed on its behalf by:

R J Quinlan - Director

K S Gains - Director

1.	STATUTORY INFORMATION

Sandwell Power Ltd 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.

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.

Tangible fixed assets

Depreciation is provided on fixed assets once construction completed and brought in to use. Assets are depreciated on a straight line basis over their estimated useful lives of 20 years.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Assets

under

construction

£

COST

At 1 July 2020

8,923,694

Additions

2,044,182

At 31 December 2020

10,967,876

NET BOOK VALUE

At 31 December 2020

10,967,876

At 30 June 2020

8,923,694

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

30.6.20

£

£

Amounts owed by group undertakings

1,738,695

1,738,695

Other debtors

692,631

665,778

Prepayments and accrued income

26,522

3,333

2,457,848

2,407,806

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

30.6.20

£

£

Trade creditors

376,625

1,359,127

Amounts owed to group undertakings

13,223,305

10,044,445

Accruals and deferred income

13,005

49,875

13,612,935

11,453,447

7.	ULTIMATE CONTROLLING PARTY