Pairc Niseaboist Power Limited - Accounts to registrar (filleted) - small 23.2.5
Pairc Niseaboist Power Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| PAIRC NISEABOIST POWER LIMITED |
| Audited Financial Statements for the Year Ended 31 December 2022 |
| PAIRC NISEABOIST POWER LIMITED (REGISTERED NUMBER: SC538814) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PAIRC NISEABOIST POWER LIMITED |
| Company Information |
| for the Year Ended 31 December 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| & Statutory Auditors |
| 26 Lewis Street |
| Stornoway |
| Isle of Lewis |
| HS1 2JF |
| PAIRC NISEABOIST POWER LIMITED (REGISTERED NUMBER: SC538814) |
| Balance Sheet |
| 31 December 2022 |
| 31.12.22 | 31.12.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 |
| PAIRC NISEABOIST POWER LIMITED (REGISTERED NUMBER: SC538814) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| Pairc Niseaboist Power Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors consider that there are no material uncertainties about the company's ability to continue as a going concern. The directors also consider that there are no significant areas of judgements, estimates or key assumptions that affect the items in the accounts. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| 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 (2021 - NIL). |
| PAIRC NISEABOIST POWER LIMITED (REGISTERED NUMBER: SC538814) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.22 | 31.12.21 |
| £ | £ |
| Amounts owed to group undertakings |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| PAIRC NISEABOIST POWER LIMITED (REGISTERED NUMBER: SC538814) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 9. | RELATED PARTY DISCLOSURES |
| The company has received loans from the West Harris Trust ('the Trust') to assist in the funding of its capital expenditure programme. The loan was secured by the Trust from Western Isles Development Trust and the repayments of the loan will be recharged to the Company. The balance due by the company at 31 December 2022 was £10,000 (2021 - £10,000). |
| The Trust has provided working capital assistance to the company to assist with funding of expenditure and the company provides electricity to the Trust. Electricity sales of £14,813 were made in relation to the year ended 31 December 2022 and the company owed a management charge of £1,090. The balance due to the company at 31 December 2022 was £1,796 (2021 - £11,543). |
| The company is a corporate member of Horgabost Wind LLP ("the LLP"). During the year the company made sales of £7,353 and purchases of £7,368 with the LLP. At the year end, the company owes the LLP £27,254 and the LLP owes the company £24,484. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is West Harris Trust. |