Abbreviated Company Accounts - SKIBO SOLAR LIMITED

SKIBO SOLAR LIMITED - Company Information

Registered Number 08460517

SKIBO SOLAR LIMITED

Abbreviated Accounts

31 March 2015

SKIBO SOLAR LIMITED Registered Number 08460517

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Called up share capital not paid		-	-
Fixed assets
Investments	2	2,477,563	2,411,960
		2,477,563	2,411,960
Current assets
Debtors	3	3,196,332	953,918
Cash at bank and in hand		114,110	-
		3,310,442	953,918
Creditors: amounts falling due within one year		(2,326,397)	(43,629)
Net current assets (liabilities)		984,045	910,289
Total assets less current liabilities		3,461,608	3,322,249
Creditors: amounts falling due after more than one year		(3,499,900)	(3,499,900)
Total net assets (liabilities)		(38,292)	(177,651)
Capital and reserves
Called up share capital		100	100
Revaluation reserve		-	0
Other reserves		91,103	(135,513)
Profit and loss account		(129,495)	(42,238)
Shareholders' funds		(38,292)	(177,651)

For the year ending 31 March 2015 the company was entitled to exemption 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.

Approved by the Board on 16 December 2015

And signed on their behalf by:
Daniel Wells, Director

SKIBO SOLAR LIMITED Registered Number 08460517

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have also been prepared in accordance with the applicable accounting standards in the United Kingdom (United Kingdom Generally Accepted Accounting Practice) which have been applied consistently (except as otherwise stated).
The financial statements have been prepared on a going concern basis.
Interest receivable and other income

Turnover policy
Other income such as interest receivable on loan notes is included on an accruals basis.
Taxation

Tangible assets depreciation policy
Not applicable

Intangible assets amortisation policy
Not applicable

Valuation information and policy
Investments
Investments held by the Company have been valued in accordance with the International Private Equity and Venture Capital (IPEVC) valuation guidelines (December 2012) developed by the British Venture Capital Association and other organisations. Through these guidelines, investments are valued as defined at ‘fair value’. Ordinarily, unquoted investments will be valued at cost for a limited period following the date of acquisition, being the most suitable approximation of fair value unless there is an impairment or significant accretion in value during the period.

Other accounting policies
Current tax, including UK corporation tax and foreign 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.

2Fixed assets Investments
£
Valuation
Book cost at 1 April 2014 2,517,806
Losses at 1 April 2014 (105,846)
Valuation at 1 April 2014 2,411,960

Disposals (38,237)
Investment holding losses (186,588)
Foreign exchange gains 290,428

Valuation at 31 March 2015 2,477,563

Book cost at 31 March 2015 2,479,569
Investment holding losses (2,006)

Valuation at 31 March 2015 2,477,563

3Debtors

	2015 £	2014 £
Debtors include the following amounts due after more than one year	3,196,332	953,918