Moelogan 2 (Holdings) Cyfyngedig - Accounts to registrar (filleted)

REGISTERED NUMBER: 06517525 (England and Wales)

Financial Statements

for the year ended

31 March 2021

for

Moelogan 2 (Holdings) Cyfyngedig

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C J Tanner

Mr M Ma

Mr J P Hardy

SECRETARY:

Moelogan 2 (O&M) Cyfyngedig

REGISTERED OFFICE:

Cae Sgubor

Ffordd Pennant

Eglwysbach

Conwy

LL28 5UN

REGISTERED NUMBER:

06517525 (England and Wales)

AUDITORS:

Azets Audit Services

Statutory Auditors

Chartered Accountants

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

ACCOUNTANT:

Powell Chartered Accountants

Market Street

Ruthin

Denbighshire

LL15 1AU

FIXED ASSETS

Investments

4

56,798

CURRENT ASSETS

Debtors: amounts falling due after more than
one year

5

1,019,602

NET CURRENT ASSETS

1,019,602

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,400

CAPITAL AND RESERVES

Called up share capital

10,722

Share premium

1,065,678

SHAREHOLDERS' FUNDS

1,076,400

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 September 2021 and were signed on its behalf by:

Mr M Ma - Director

1.	STATUTORY INFORMATION

Moelogan 2 (Holdings) Cyfyngedig 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.

Preparation of consolidated financial statements

The financial statements contain information about Moelogan 2 (Holdings) Cyfyngedig as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of twelve months after the date on which the annual report and financial statements are signed. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

56,798

NET BOOK VALUE

At 31 March 2021

56,798

At 31 March 2020

56,798

Shares in group undertakings represent the investment in the company's wholly owned subsidiary, Moelogan 2 CCC, a trading company that owns and operates nine wind turbines.

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

Amounts owed by group undertakings

1,019,602

Amounts owed by group undertakings relates to a historic loan to the company's wholly owned subsidiary, Moelogan 2 CCC, relating to proceeds from a share issue in the parent company that were used to fund the subsidiary's wind farm development. This loan does not attract any interest.

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Melanie Langton-Davies (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

7.	RELATED PARTY DISCLOSURES

Moelogan 2 CCC

At the year end Moelogan 2 CCC owed Moelogan 2 (Holdings) Cyf (its immediate parent company) £1,019,602 (2020: £1,019,602). No interest has been charged on this balance.

8.	ULTIMATE PARENT COMPANY

The ultimate parent company is JLEN Environmental Assets Group Limited, a limited corporate entity incorporated in Guernsey, Channel Islands.

Moelogan 2 (Holdings) Cyfyngedig - Accounts to registrar (filleted) - small 18.2

Moelogan 2 (Holdings) Cyfyngedig - Accounts to registrar (filleted) - small 18.2