| North Power Croaghan Ltd |
| Registered number: |
NI606562 |
| Balance Sheet |
| as at 31 December 2022 |
|
| Notes |
31/12/22 |
31/3/22 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
34,088 |
|
|
38,431 |
|
| Current assets |
| Debtors |
4 |
|
28,973 |
|
|
30,675 |
| Cash at bank and in hand |
|
|
23,298 |
|
|
- |
|
|
|
52,271 |
|
|
30,675 |
|
| Creditors: amounts falling due within one year |
5 |
|
(23,116) |
|
|
(40,989) |
|
| Net current assets/(liabilities) |
|
|
|
29,155 |
|
|
(10,314) |
|
| Total assets less current liabilities |
|
|
|
63,243 |
|
|
28,117 |
|
|
| Provisions for liabilities |
6 |
|
|
(6,477) |
|
|
- |
|
|
| Net assets |
|
|
|
56,766 |
|
|
28,117 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
8 |
|
|
36 |
|
|
36 |
| Profit and loss account |
|
|
|
56,730 |
|
|
28,081 |
|
| Shareholders' funds |
9 |
|
|
56,766 |
|
|
28,117 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Adrian Martin |
Mr Eamon Martin |
| Director |
Director |
| Approved by the board on 26 September 2023 |
Approved by the board on 26 September 2023 |
|
|
|
| Mr Patrick Duggan |
| Director |
| Approved by the board on 26 September 2023 |
|
| North Power Croaghan Ltd |
| Notes to the Accounts |
| for the period from 1 April 2022 to 31 December 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are presented in UK Sterling pounds (£) |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the generation of electricity and trading of Renewable Obligation Certificates (ROC's). Accrued income is recognised in reference to the date of electricity generation. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
15% Reducing Balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Financial Instruments |
|
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
31/12/22 |
31/3/22 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2022 |
133,772 |
|
At 31 December 2022 |
133,772 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
95,341 |
|
Charge for the period |
4,343 |
|
At 31 December 2022 |
99,684 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2022 |
34,088 |
|
At 31 March 2022 |
38,431 |
|
|
| 4 |
Debtors |
31/12/22 |
31/3/22 |
| £ |
£ |
|
|
Trade debtors |
3,320 |
|
27,675 |
|
Accrued income |
|
|
|
|
24,429 |
|
- |
|
Other debtors |
1,224 |
|
3,000 |
|
|
|
|
|
|
28,973 |
|
30,675 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
31/12/22 |
31/3/22 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
21,436 |
|
Trade creditors |
661 |
|
- |
|
Taxation and social security costs |
21,205 |
|
11,775 |
|
Other creditors |
1,250 |
|
7,778 |
|
|
|
|
|
|
23,116 |
|
40,989 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Provisions for liabilities |
31/12/22 |
31/3/22 |
| £ |
£ |
|
Deferred Taxation |
| £ |
|
|
At 1 April 2022 |
- |
|
Charged to the profit and loss |
6,477 |
|
|
At 31 December 2022 |
6,477 |
|
|
|
|
|
|
|
|
|
|
|
The provision for deferred taxation is made up as follows: |
|
| 31/12/22 |
31/3/22 |
|
|
|
|
|
|
£ |
£ |
|
|
Accelerated capital allowances |
(6,477) |
|
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Directors advances, credits and guarantees |
|
|
During the year the company repaid £2,578 to the directors leaving no balance owed by the company at the period end of 31 December 2022. |
|
|
| 8 |
Controlling party |
|
|
MPG Wind Ltd and WTS - O&M Ltd acquired the shareholding of the company on 21 December 2022. A sub division of shares was issued on this date changing the share capital from 36 ordinary shares of £1.00 each to 360 ordinary shares of £0.10 each.
There were no transactions with either company during the period. |
|
|
| 9 |
Statement of changes in equity |
|
|
The shareholders funds represents cumulative profits or losses, net of dividends paid and deferred tax adjustments. |
|
|
| 10 |
Other information |
|
|
North Power Croaghan Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
141 Camlough Road |
|
Carrickmore |
|
Omagh |
|
Co Tyrone |
|
BT79 9BS |
