JP Wind Limited - Limited company accounts 23.2
JP Wind Limited - Limited company accounts 23.2
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 30 June 2023 |
| for |
| JP Wind Limited |
| JP Wind Limited (Registered number: 07640635) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Chartered Accountants' Report | 4 |
| Income Statement | 5 |
| Other Comprehensive Income | 6 |
| Balance Sheet | 7 |
| Statement of Changes in Equity | 8 |
| Notes to the Financial Statements | 9 |
| JP Wind Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 823 Salisbury House |
| 29 Finsbury Circus |
| London |
| EC2M 5QQ |
| JP Wind Limited (Registered number: 07640635) |
| Report of the Directors |
| for the Year Ended 30 June 2023 |
| The directors present their report with the financial statements of the company for the year ended 30 June 2023. |
| PRINCIPAL ACTIVITY |
| The principal activity of the Company has been that of operation of wind turbines. |
| REVIEW OF BUSINESS |
| The results for the period and the financial position at the year end, were considered satisfactory by the directors. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report. |
| RESULT AND DIVIDENDS |
| The Company's profit for the period amounted to GBP 785,982. |
| The total distribution of dividends for the year ended 30 June 2023 will be £1,240,000 |
| POST BALANCE SHEET EVENTS |
| No post balance sheet events have occurred since 30 June 2023 which require reporting or disclosing in the accounts. |
| AUDITORS |
| The directors have with reference to the exemptions in the Companies Act elected not to appoint auditors. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| JP Wind Limited (Registered number: 07640635) |
| Report of the Directors |
| for the Year Ended 30 June 2023 |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| JP Wind Limited (Registered number: 07640635) |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JP Wind Limited for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of JP Wind Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JP Wind Limited and state those matters that we have agreed to state to the Board of Directors of JP Wind Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JP Wind Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that JP Wind Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JP Wind Limited. You consider that JP Wind Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of JP Wind Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 823 Salisbury House |
| 29 Finsbury Circus |
| London |
| EC2M 5QQ |
| JP Wind Limited (Registered number: 07640635) |
| Income Statement |
| for the Year Ended 30 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| TURNOVER | 2 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 3 |
| Interest receivable and similar income | 4 |
| 969,460 | 326,810 |
| Interest payable and similar expenses | 5 |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 |
| PROFIT FOR THE FINANCIAL YEAR |
| JP Wind Limited (Registered number: 07640635) |
| Other Comprehensive Income |
| for the Year Ended 30 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| JP Wind Limited (Registered number: 07640635) |
| Balance Sheet |
| 30 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| JP Wind Limited (Registered number: 07640635) |
| Statement of Changes in Equity |
| for the Year Ended 30 June 2023 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 July 2021 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 June 2022 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 June 2023 |
| JP Wind Limited (Registered number: 07640635) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounting policies of the Company conform to generally accepted practice in the U.K. A summary of the more important accounting policies which have been applied consistently, is set out below. |
| Turnover |
| Turnover derives from the principal activity of the Company and is represented by invoiced sales excluding Value Added Tax. |
| Interest and similar income and charges |
| Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount. |
| Foreign currencies |
| Transactions in foreign currencies are recorded using a fixed rate of exchange. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date. Gains or losses on translation are included in the profit and loss account. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost. |
| Depreciation on fixed assets is provided at rates estimated to write off the cost amounts, less estimated residual value, of each asset over its expected useful life as follows: |
| Fixtures & fittings 15 Years |
| Debtors |
| Debtors are valued individually and there are made provision according to this valuation. |
| Creditors |
| Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost. |
| Taxation |
| Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements. |
| Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
| - the requirements of Section 7 Statement of Cash Flows. |
| JP Wind Limited (Registered number: 07640635) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | TURNOVER |
| Turnover is attributable to the one principal activity of the company which arose wholly in the United Kingdom. |
| 3. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2023 | 2022 |
| £ | £ |
| Depreciation - owned assets |
| 4. | INTEREST RECEIVABLE AND SIMILAR INCOME |
| 2023 | 2022 |
| £ | £ |
| Interests bank |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2023 | 2022 |
| £ | £ |
| Interests HMRC |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2023 | 2022 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) | ( |
) |
| Tax on profit |
| 7. | DIVIDENDS |
| 2023 | 2022 |
| £ | £ |
| Ordinary shares shares of 1 each |
| Final |
| Dividend of GBP 1,240,000 (2021/22: GBP 170,000) was paid before the date of approval of the accounts. |
| JP Wind Limited (Registered number: 07640635) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 8. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 July 2022 |
| Additions |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 July 2022 |
| Charge for year |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Deferred tax asset | 69,000 | 39,000 |
| Prepayments and accrued income |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT | 28,086 | 20,812 |
| Accruals and deferred income |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary shares | 1 | 2 | 2 |
| JP Wind Limited (Registered number: 07640635) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 July 2022 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 June 2023 |