UK PV LIMITED

2022-04-012023-03-312023-03-31false08986180UK PV LIMITED2023-12-14iso4217:GBPxbrli:pure089861802022-04-01089861802023-03-31089861802022-04-012023-03-31089861802021-04-01089861802022-03-31089861802021-04-012022-03-3108986180bus:SmallEntities2022-04-012023-03-3108986180bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3108986180bus:FullAccounts2022-04-012023-03-3108986180bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108986180core:WithinOneYear2023-03-3108986180core:AfterOneYear2023-03-3108986180core:WithinOneYear2022-03-3108986180core:AfterOneYear2022-03-3108986180core:ShareCapital2023-03-3108986180core:SharePremium2023-03-3108986180core:RevaluationReserve2023-03-3108986180core:OtherReservesSubtotal2023-03-3108986180core:RetainedEarningsAccumulatedLosses2023-03-3108986180core:ShareCapital2022-03-3108986180core:SharePremium2022-03-3108986180core:RevaluationReserve2022-03-3108986180core:OtherReservesSubtotal2022-03-3108986180core:RetainedEarningsAccumulatedLosses2022-03-3108986180core:LandBuildings2023-03-3108986180core:PlantMachinery2023-03-3108986180core:Vehicles2023-03-3108986180core:FurnitureFittings2023-03-3108986180core:OfficeEquipment2023-03-3108986180core:NetGoodwill2023-03-3108986180core:IntangibleAssetsOtherThanGoodwill2023-03-3108986180core:ListedExchangeTraded2023-03-3108986180core:UnlistedNon-exchangeTraded2023-03-3108986180core:LandBuildings2022-03-3108986180core:PlantMachinery2022-03-3108986180core:Vehicles2022-03-3108986180core:FurnitureFittings2022-03-3108986180core:OfficeEquipment2022-03-3108986180core:NetGoodwill2022-03-3108986180core:IntangibleAssetsOtherThanGoodwill2022-03-3108986180core:ListedExchangeTraded2022-03-3108986180core:UnlistedNon-exchangeTraded2022-03-3108986180core:LandBuildings2022-04-012023-03-3108986180core:PlantMachinery2022-04-012023-03-3108986180core:Vehicles2022-04-012023-03-3108986180core:FurnitureFittings2022-04-012023-03-3108986180core:OfficeEquipment2022-04-012023-03-3108986180core:NetGoodwill2022-04-012023-03-3108986180core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108986180core:ListedExchangeTraded2022-04-012023-03-3108986180core:UnlistedNon-exchangeTraded2022-04-012023-03-3108986180core:MoreThanFiveYears2022-04-012023-03-3108986180core:Non-currentFinancialInstruments2023-03-3108986180core:Non-currentFinancialInstruments2022-03-3108986180dpl:CostSales2022-04-012023-03-3108986180dpl:DistributionCosts2022-04-012023-03-3108986180core:LandBuildings2022-04-012023-03-3108986180core:PlantMachinery2022-04-012023-03-3108986180core:Vehicles2022-04-012023-03-3108986180core:FurnitureFittings2022-04-012023-03-3108986180core:OfficeEquipment2022-04-012023-03-3108986180dpl:AdministrativeExpenses2022-04-012023-03-3108986180core:NetGoodwill2022-04-012023-03-3108986180core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108986180dpl:GroupUndertakings2022-04-012023-03-3108986180dpl:ParticipatingInterests2022-04-012023-03-3108986180dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3108986180core:ListedExchangeTraded2022-04-012023-03-3108986180dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3108986180core:UnlistedNon-exchangeTraded2022-04-012023-03-3108986180dpl:CostSales2021-04-012022-03-3108986180dpl:DistributionCosts2021-04-012022-03-3108986180core:LandBuildings2021-04-012022-03-3108986180core:PlantMachinery2021-04-012022-03-3108986180core:Vehicles2021-04-012022-03-3108986180core:FurnitureFittings2021-04-012022-03-3108986180core:OfficeEquipment2021-04-012022-03-3108986180dpl:AdministrativeExpenses2021-04-012022-03-3108986180core:NetGoodwill2021-04-012022-03-3108986180core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3108986180dpl:GroupUndertakings2021-04-012022-03-3108986180dpl:ParticipatingInterests2021-04-012022-03-3108986180dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3108986180core:ListedExchangeTraded2021-04-012022-03-3108986180dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3108986180core:UnlistedNon-exchangeTraded2021-04-012022-03-3108986180core:NetGoodwill2023-03-3108986180core:IntangibleAssetsOtherThanGoodwill2023-03-3108986180core:LandBuildings2023-03-3108986180core:PlantMachinery2023-03-3108986180core:Vehicles2023-03-3108986180core:FurnitureFittings2023-03-3108986180core:OfficeEquipment2023-03-3108986180core:AfterOneYear2023-03-3108986180core:WithinOneYear2023-03-3108986180core:ListedExchangeTraded2023-03-3108986180core:UnlistedNon-exchangeTraded2023-03-3108986180core:ShareCapital2023-03-3108986180core:SharePremium2023-03-3108986180core:RevaluationReserve2023-03-3108986180core:OtherReservesSubtotal2023-03-3108986180core:RetainedEarningsAccumulatedLosses2023-03-3108986180core:NetGoodwill2022-03-3108986180core:IntangibleAssetsOtherThanGoodwill2022-03-3108986180core:LandBuildings2022-03-3108986180core:PlantMachinery2022-03-3108986180core:Vehicles2022-03-3108986180core:FurnitureFittings2022-03-3108986180core:OfficeEquipment2022-03-3108986180core:AfterOneYear2022-03-3108986180core:WithinOneYear2022-03-3108986180core:ListedExch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UK PV LIMITED

Registered Number
08986180
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

UK PV LIMITED

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	AHMET, Isabelle
	CARLSON, Christopher Hamilton


Registered Address	Level 4 Ldn:W
	3 Noble Street
	London
	EC2V 7EE


Registered Number	08986180 (England and Wales)

UK PV LIMITED

Statement of Financial Position
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Investments	6		1		1
			1		1
Current assets
Debtors	7	7,253,469		9,501,858
Cash at bank and on hand		3,742		3,772
		7,257,211		9,505,630
Creditors amounts falling due within one year	8	(7,233,307)		(9,481,703)
Net current assets (liabilities)			23,904		23,927
Total assets less current liabilities			23,905		23,928
Net assets			23,905		23,928
Capital and reserves
Called up share capital			2		2
Share premium			11		11
Other reserves			971,642		971,642
Profit and loss account			(947,750)		(947,727)
Shareholders' funds			23,905		23,928

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 14 December 2023, and are signed on its behalf by:

CARLSON, Christopher Hamilton
Director
Registered Company No. 08986180

UK PV LIMITED

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The parent and ultimate holding company of the largest group to consolidate these financial statements is Solar Growth Limited, a company incorporated in the UK. The registered office is Level 4 LDN:W, 3 Noble Street, London, England, EC2V 7EE.

Statutory information

The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The parent and ultimate holding company of the largest group to consolidate these financial statements is Solar Growth Limited, a company incorporated in the UK. The registered office is Level 4 LDN:W, 3 Noble Street, London, England, EC2V 7EE.

2.	Compliance with applicable reporting framework
	The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

3.	Principal activities
	The principal activity of the Company during the period was that of a holding company.

4.	Accounting policies

	Taxation policy
	The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Taxation policy

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

	Deferred tax policy
	Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: • The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and • Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax policy

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
•	The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
•	Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.

	Valuation of financial instruments policy
	The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Valuation of financial instruments policy

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

5.	Employee information


		2023		2022
	Average number of employees during the year	0		0

6.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 22	1	1
At 31 March 23	1	1
Net book value
At 31 March 23	1	1
At 31 March 22	1	1

	Notes
	¹Investments in group undertakings and participating interests

7.	Debtors

	2023	2022
	£	£
Amounts owed by group undertakings	7,237,298	9,485,693
Deferred tax asset, debtors	16,171	16,165
Total	7,253,469	9,501,858


	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.

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.

8.	Creditors within one year

	2023	2022
	£	£
Amounts owed to related parties	7,232,758	9,481,154
Accrued liabilities and deferred income	549	549
Total	7,233,307	9,481,703


	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.