Second Generation Yardwall Limited - Accounts

Second Generation Yardwall Limited - Accounts

SECOND GENERATION YARDWALL LIMITED - Company Information

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Registered Number : 09118994
England and Wales

 

 

 

SECOND GENERATION YARDWALL LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

Second Generation Yardwall Limited
Contents Page
For the year ended 31 March 2016
 
 		 Notes
 		 2016
£		   2015
£
Fixed assets      
Tangible fixed assets 2 3,273,029    1,292,873 
3,273,029    1,292,873 
Current assets      
Debtors 147,042    115,868 
Cash at bank and in hand 32,139    0
179,181    115,868 
Creditors: amount falling due within one year (322,484)   (1,436,287)
Net current assets (143,303)   (1,320,419)
Total assets less current liabilities 3,129,726    (27,546)
Creditors: amount falling due more than one year (3,046,506)   0
Net assets 83,220    (27,546)

Capital and reserves 		     
Called up share capital 3 338,739    1 
Profit and loss account (255,519)   (27,547)
Shareholders funds 83,220    (27,546)


For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. 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
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts.
Signed on behalf of the board of directors


--------------------------------
Peter Tom Hill-Norton
Director

Date approved by the board: 12 December 2016
1
1.

Accounting Policies

Basis of accounting

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£).
Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  
Depreciation is charged so as to allocate the cost of tangibles less their residual values over their estimated useful lives (25 years), based on the units of production. All projects are expected to generate electricity for 25 years; related leases are for 26 years (to allow for decommissioning) and for the first 19 years there is guaranteed income in the form of renewable obligation certificates and feed-in tariff payments.

If there is an indication that there has been a significant change in depreciation rate or residual value of an asset, the depreciation of that asset is revised prospectively to reflect the new expectations.
Going Concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its consolidated financial statements. 
Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Total
  £   £
At 01 April 2015 1,292,873    1,292,873 
Additions 2,041,391    2,041,391 
Disposals -    - 
At 31 March 2016 3,334,264    3,334,264 
Depreciation
At 01 April 2015 -    - 
Charge for year 61,235    61,235 
On disposals -    - 
At 31 March 2016 61,235    61,235 
Net book values
At 31 March 2016 3,273,029    3,273,029 
At 01 April 2015 1,292,873    1,292,873 


3.

Share Capital

Allotted
2016
£		   2015
£
338,739 Class A shares of £1.00 each 338,739    1 
338,739    1 

2