CGT Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08281650 (England and Wales)

Financial Statements

for the year ended

31 March 2021

for

CGT Investments Limited

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:

08281650 (England and Wales)

AUDITORS:

Azets Audit Services

Statutory Auditors

Chartered Accountants

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

ACCOUNTANTS:

Powell Chartered Accountants

Market Street

Ruthin

Denbighshire

LL15 1AU

FIXED ASSETS

Investments

4

2,965,247

2,965,247

CREDITORS

Amounts falling due within one year

5

91,033

29,901

NET CURRENT LIABILITIES

(91,033

)

(29,901

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,874,214

2,935,346

CREDITORS

Amounts falling due after more than one year

6

1,515,842

1,515,842

NET ASSETS

1,358,372

1,419,504

CAPITAL AND RESERVES

Called up share capital

59

59

Share premium

1,300,000

1,300,000

Retained earnings

58,313

119,445

SHAREHOLDERS' FUNDS

1,358,372

1,419,504

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

CGT Investments 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.

Preparation of consolidated financial statements

The financial statements contain information about CGT Investments Limited 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 fair value (being cost less impairment).

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.

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

2,965,247

NET BOOK VALUE

At 31 March 2021

2,965,247

At 31 March 2020

2,965,247

Shares in group undertakings represent the investment in the company's wholly owned subsidiary, Cwmni Gwynt Teg Cyf, a trading company that owns and operates two wind turbines. The investment has been impaired to reflect its fair value as estimated by the parent entity.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Accrued expenses

91,033

29,901

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

1,515,842

1,515,842

Amounts owed to group undertakings relates to a loan of £1,515,842 from John Laing Environmental Assets Group (UK) Limited that carries an interest rate of 8% per annum and is repayable by 30 September 2038.

7.	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

8.	RELATED PARTY DISCLOSURES

CGT Investments Limited is a wholly owned subsidiary of JLEN Environmental Assets Group (UK) Limited (previously called John Laing Environmental Assets Group (UK) Limited).

A formal intercompany loan is in place from the parent company to the subsidiary of £1,515,842 bearing interest at a rate of 8% per annum, repayable by 30 September 2038. At the year end there was unpaid accrued interest of £91,034 (2020: £29,902) due to JLEN Environmental Assets Group (UK) Limited.

A tax loss generated in CGT Investments Limited during the year was surrendered to its wholly owned subsidiary, Cwmni Gwynt Teg Cyf.

9.	ULTIMATE PARENT COMPANY

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