Basildon Power Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09144975 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2020

for

Basildon Power Limited

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:

5th Floor, 53-54 Grosvenor Street

London

W1K 3HU

REGISTERED NUMBER:

09144975 (England and Wales)

ACCOUNTANTS:

Eagle Accountancy (UK) Limited

2 Coracle Offices

St Catherine Street

Carmarthen

Carmarthenshire

SA31 1RD

FIXED ASSETS

Intangible assets

4

-

30,206

Tangible assets

5

8,218,160

825,721

8,218,160

855,927

CURRENT ASSETS

Debtors

6

715,444

737,078

Cash at bank

372

8

715,816

737,086

CREDITORS

Amounts falling due within one year

7

9,245,143

1,771,990

NET CURRENT LIABILITIES

(8,529,327

)

(1,034,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(311,167

)

(178,977

)

PROVISIONS FOR LIABILITIES

-

12,482

NET LIABILITIES

(311,167

)

(191,459

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(311,168

)

(191,460

)

SHAREHOLDERS' FUNDS

(311,167

)

(191,459

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 30 June 2021 and were signed on its behalf by:

R J Quinlan - Director

K S Gains - Director

1.	STATUTORY INFORMATION

Basildon Power Limited 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 on Assets under construction is provided once construction is complete and assets are brought in to use. Assets are depreciated on a straight line basis over their estimated useful lives of 20 years.

Taxation

Taxation for the year 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 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.

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 year was NIL (2019 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2019

31,945

Reclassification/transfer

(31,945

)

At 30 June 2020

-

AMORTISATION

At 1 July 2019

1,739

Charge written back

(1,739

)

At 30 June 2020

-

NET BOOK VALUE

At 30 June 2020

-

At 30 June 2019

30,206

5.	TANGIBLE FIXED ASSETS

Assets

under

construction

£

COST

At 1 July 2019

825,721

Additions

7,360,494

Reclassification/transfer

31,945

At 30 June 2020

8,218,160

NET BOOK VALUE

At 30 June 2020

8,218,160

At 30 June 2019

825,721

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

1,260

1,260

Amounts owed by group undertakings

356,977

395,260

Other debtors

344,410

300,001

VAT

-

28,136

Prepayments

12,797

12,421

715,444

737,078

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade creditors

117,349

316,359

Amounts owed to group undertakings

9,093,344

1,429,736

Accruals and deferred income

34,450

25,895

9,245,143

1,771,990

8.	ULTIMATE CONTROLLING PARTY