JP Wind Limited - Limited company accounts 20.1

REGISTERED NUMBER: 07640635 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2021

for

JP Wind Limited

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

4

Income Statement

5

Other Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

J Falk

J F Greth

REGISTERED OFFICE:

823 Salisbury House

29 Finsbury Circus

London

REGISTERED NUMBER:

07640635 (England and Wales)

ACCOUNTANTS:

Krogh & Partners Limited

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

The directors present their report with the financial statements of the company for the year ended 30 June 2021.

PRINCIPAL ACTIVITY

The principal activity of the Company has been that of operation of wind turbines.

REVIEW OF BUSINESS

The results for the period and the financial position at the year end, were considered satisfactory by the directors.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2020 to the date of this report.

J Falk

J F Greth

RESULT AND DIVIDENDS

The Company's profit for the period amounted to GBP 213,207.

The total distribution of dividends for the year ended 30 June 2020 will be £300,000

POST BALANCE SHEET EVENTS

No post balance sheet events have occurred since 30 June 2021 which require reporting or disclosing in the accounts.

AUDITORS

The directors have with reference to the exemptions in the Companies Act elected not to appoint auditors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J F Greth - Director

5 November 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JP Wind Limited for the year ended 30 June 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JP Wind Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JP Wind Limited and state those matters that we have agreed to state to the Board of Directors of JP Wind Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JP Wind Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JP Wind Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JP Wind Limited. You consider that JP Wind Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JP Wind Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Krogh & Partners Limited

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

5 November 2021

TURNOVER

2

530,126

680,234

Cost of sales

72,357

111,468

GROSS PROFIT

457,769

568,766

Administrative expenses

194,619

208,846

OPERATING PROFIT and

PROFIT BEFORE TAXATION

263,150

359,920

Tax on profit

5

49,943

65,689

PROFIT FOR THE FINANCIAL YEAR

213,207

294,231

PROFIT FOR THE YEAR

213,207

294,231

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

213,207

294,231

FIXED ASSETS

Tangible assets

7

675,055

786,740

CURRENT ASSETS

Debtors

8

198,304

223,038

Cash at bank

49,371

438,634

247,675

661,672

CREDITORS

Amounts falling due within one year

9

83,136

522,025

NET CURRENT ASSETS

164,539

139,647

TOTAL ASSETS LESS CURRENT LIABILITIES

839,594

926,387

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

839,592

926,385

SHAREHOLDERS' FUNDS

839,594

926,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2021 and were signed on its behalf by:

J Falk - Director

J F Greth - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2019

2

1,072,154

1,072,156

Changes in equity

Dividends

-

(440,000

)

(440,000

)

Total comprehensive income

-

294,231

294,231

Balance at 30 June 2020

2

926,385

926,387

Changes in equity

Dividends

-

(300,000

)

(300,000

)

Total comprehensive income

-

213,207

213,207

Balance at 30 June 2021

2

839,592

839,594

1.	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.

The accounting policies of the Company conform to generally accepted practice in the U.K. A summary of the more important accounting policies which have been applied consistently, is set out below.

Turnover

Turnover derives from the principal activity of the Company and is represented by invoiced sales excluding Value Added Tax.

Interest and similar income and charges

Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

Foreign currencies

Transactions in foreign currencies are recorded using a fixed rate of exchange. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date. Gains or losses on translation are included in the profit and loss account.

Tangible fixed assets

Tangible fixed assets are stated at cost.

Depreciation on fixed assets is provided at rates estimated to write off the cost amounts, less estimated residual value, of each asset over its expected useful life as follows:

Fixtures & fittings 15 Years

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Taxation

Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows.

2.

TURNOVER

Turnover is attributable to the one principal activity of the company which arose wholly in the United Kingdom.

3.	EMPLOYEES AND DIRECTORS

There were no employees of the company other than the directors and directors remuneration was paid as stated below:

2021

2020

£

£

Directors' remuneration and other benefits etc.

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

2021

2020

£

£

Depreciation - owned assets

120,627

120,031

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2021

2020

£

£

Current tax:

UK corporation tax

62,943

80,689

Deferred tax

(13,000

)

(15,000

)

Tax on profit

49,943

65,689

6.

DIVIDENDS

2021

2020

£

£

Ordinary shares shares of 1 each

Final

300,000

440,000

Dividend of GBP 300,000 (2019/20: GBP 440,000) was paid before the date of approval of the accounts.

7.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2020

1,800,458

Additions

8,942

At 30 June 2021

1,809,400

DEPRECIATION

At 1 July 2020

1,013,718

Charge for year

120,627

At 30 June 2021

1,134,345

NET BOOK VALUE

At 30 June 2021

675,055

At 30 June 2020

786,740

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

15,648

-

Deferred tax asset

28,000

15,000

Prepayments and accrued income

154,656

208,038

198,304

223,038

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

6,307

8,789

Tax

62,943

80,689

VAT

6,330

4,297

Amount owed to parent

companies

-

388,427

Accruals and deferred income

7,556

39,823

83,136

522,025

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary shares

1

2

2

11.

RESERVES

Retained

earnings

£

At 1 July 2020

926,385

Profit for the year

213,207

Dividends

(300,000

)

At 30 June 2021

839,592