Widdington Hydro Ltd 31/03/2022 iXBRL

Widdington Hydro Ltd 31/03/2022 iXBRL

WIDDINGTON HYDRO LTD - Company Information

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5 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10166929 2021-04-01 2022-03-31 10166929 2022-03-31 10166929 2021-03-31 10166929 2020-04-01 2021-03-31 10166929 2021-03-31 10166929 core:LandBuildings core:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 10166929 core:PlantMachinery 2021-04-01 2022-03-31 10166929 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 10166929 core:OnerousContractsExcludingVacantProperties 2021-04-01 2022-03-31 10166929 bus:RegisteredOffice 2021-04-01 2022-03-31 10166929 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 10166929 bus:Director1 2021-04-01 2022-03-31 10166929 bus:Director2 2021-04-01 2022-03-31 10166929 bus:Director3 2021-04-01 2022-03-31 10166929 bus:Director4 2021-04-01 2022-03-31 10166929 bus:Director5 2021-04-01 2022-03-31 10166929 core:WithinOneYear 2022-03-31 10166929 core:WithinOneYear 2021-03-31 10166929 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 10166929 core:PlantMachinery 2021-03-31 10166929 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 10166929 core:PlantMachinery 2022-03-31 10166929 core:AfterOneYear 2022-03-31 10166929 core:AfterOneYear 2021-03-31 10166929 core:ShareCapital 2022-03-31 10166929 core:ShareCapital 2021-03-31 10166929 core:RetainedEarningsAccumulatedLosses 2022-03-31 10166929 core:RetainedEarningsAccumulatedLosses 2021-03-31 10166929 core:MoreThanFiveYears 2022-03-31 10166929 core:MoreThanFiveYears 2021-03-31 10166929 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 10166929 core:PlantMachinery 2021-03-31 10166929 bus:SmallEntities 2021-04-01 2022-03-31 10166929 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 10166929 bus:FullAccounts 2021-04-01 2022-03-31 10166929 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 10166929 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31
Company registration number: 10166929
Widdington Hydro Ltd
Unaudited filleted financial statements
31 March 2022
WIDDINGTON HYDRO LTD
DIRECTORS AND OTHER INFORMATION
Directors Pete Kibel
Ben Kibel
David Mann
Stephen Rule
Jonathan Slater
Company number 10166929
Registered office Pynes Hill
Exeter
Devon
EX2 5WR
Accountants Westcotts
26-28 Southernhay East
Exeter
Devon
EX1 1NS
WIDDINGTON HYDRO LTD
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 2,428,628 2,434,960
_______ _______
2,428,628 2,434,960
Current assets
Debtors 6 125,138 101,071
Cash at bank and in hand 3,809 2,347
_______ _______
128,947 103,418
Creditors: amounts falling due
within one year 7 ( 1,019,060) ( 858,109)
_______ _______
Net current liabilities ( 890,113) ( 754,691)
_______ _______
Total assets less current liabilities 1,538,515 1,680,269
Creditors: amounts falling due
after more than one year 8 ( 1,932,292) ( 2,010,140)
Provisions for liabilities ( 217,728) ( 224,034)
_______ _______
Net liabilities ( 611,505) ( 553,905)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 9 ( 611,506) ( 553,906)
_______ _______
Shareholders deficit ( 611,505) ( 553,905)
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 December 2022 , and are signed on behalf of the board by:
David Mann
Director
Company registration number: 10166929
WIDDINGTON HYDRO LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Woodwater House, Pynes Hill, Exeter, Devon, EX2 5WR.
Principal activity
The principal activity of the company is that of the construction and running of a hydro-power station.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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.
Going concern
The company is continuing as a going concern under the financial support of its directors and its parent company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 4 % straight line
Plant and Machinery - long life - 4 % straight line
Plant and Machinery - normal life - 25 % reducing balance
Plant and Machinery - project management - 4 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).
5. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 April 2021 7,440 2,678,331 2,685,771
Additions - 72,489 72,489
_______ _______ _______
At 31 March 2022 7,440 2,750,820 2,758,260
_______ _______ _______
Depreciation
At 1 April 2021 584 250,227 250,811
Charge for the year 186 78,635 78,821
_______ _______ _______
At 31 March 2022 770 328,862 329,632
_______ _______ _______
Carrying amount
At 31 March 2022 6,670 2,421,958 2,428,628
_______ _______ _______
At 31 March 2021 6,856 2,428,104 2,434,960
_______ _______ _______
6. Debtors
2022 2021
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 35,000 27,000
Other debtors 90,138 74,071
_______ _______
125,138 101,071
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 58,054 37,100
Accruals and deferred income 961,006 821,009
_______ _______
1,019,060 858,109
_______ _______
8. Creditors: amounts falling due after more than one year
2022 2021
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,932,292 2,010,140
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ 1,954,292 (2021 £ 2,010,140 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The company's assets are secured against a bond issued by its parent company.
9. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 5 years 320,000 330,000
_______ _______