Linton Hydro Limited 31/03/2022 iXBRL

Linton Hydro Limited 31/03/2022 iXBRL

LINTON HYDRO LTD - Company Information

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Company registration number: 10141737
Linton Hydro Limited
Unaudited filleted financial statements
31 March 2022
LINTON HYDRO LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr Stephen Rule
Mr David Mann
Mr Pete Kibel
Mr Jonathan Slater
Mr Ben Kibel
Secretary Michelmores Secretaries Limited
Company number 10141737
Registered office Pynes Hill
Exeter
Devon
EX2 5WR
Accountants Westcotts
26 - 28 Southernhay East
Exeter
Devon
EX1 1NS
LINTON HYDRO LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
2022 2021
Note £ £ £ £
Fixed assets
Investments 5 554,000 554,000
_______ _______
554,000 554,000
Current assets
Debtors 6 3,239,488 3,192,781
Cash at bank and in hand 5,109 118
_______ _______
3,244,597 3,192,899
Creditors: amounts falling due
within one year 8 ( 488,772) ( 125,487)
_______ _______
Net current assets 2,755,825 3,067,412
_______ _______
Total assets less current liabilities 3,309,825 3,621,412
Creditors: amounts falling due
after more than one year 9 ( 3,025,000) ( 3,300,000)
_______ _______
Net assets 284,825 321,412
_______ _______
Capital and reserves
Called up share capital 494,000 494,000
Profit and loss account 10 ( 209,175) ( 172,588)
_______ _______
Shareholders funds 284,825 321,412
_______ _______
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:
Mr Pete Kibel
Director
Company registration number: 10141737
LINTON HYDRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Woodwater House, Pynes Hill, Exeter, Devon, EX2 5WR.
Principal activity
The principal activity of the company is holding company for companies building and running hydro- power stations.
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.
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.
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Going concern
The company is continuing as a going concern under the financial support of its directors and its associated companies.
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.
Principal activity
The principal activity of the company is holding company for companies building and running hydro- power stations.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2021 and 31 March 2022 554,000 554,000
_______ _______
Impairment
At 1 April 2021 and 31 March 2022 - -
_______ _______
Carrying amount
At 31 March 2022 554,000 554,000
_______ _______
At 31 March 2021 554,000 554,000
_______ _______
6. Debtors
2022 2021
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,916,802 1,973,602
Other debtors 1,322,686 1,219,179
_______ _______
3,239,488 3,192,781
_______ _______
The debtors above include the following amounts falling due after more than one year:
2022 2021
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,752,058 2,671,444
_______ _______
7. Cash and cash equivalents
2022 2021
£ £
Cash at bank and in hand 5,109 118
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 275,000 -
Trade creditors 8,580 3,144
Accruals and deferred income 33,498 33,638
Social security and other taxes 83,574 18,675
Other creditors 88,120 70,030
_______ _______
488,772 125,487
_______ _______
9. Creditors: amounts falling due after more than one year
2022 2021
£ £
Other creditors 3,025,000 3,300,000
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ 1,650,000 (2021 £ 1,925,000 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bond is secured on the companys assets and those of its subsidiary.
10. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Directors - ( 275,000) ( 275,000)
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Directors - - -
_______ _______ _______
Interest is accrued on this loan at 7%