LOGAN_GILL_HYDROELECTRIC_ - Accounts

LOGAN GILL HYDROELECTRIC LTD - Company Information

Print Friendly Version

Company Registration No. 06941343 (England and Wales)

LOGAN GILL HYDROELECTRIC LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

LOGAN GILL HYDROELECTRIC LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

LOGAN GILL HYDROELECTRIC LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LOGAN GILL HYDROELECTRIC LTD FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Logan Gill Hydroelectric Ltd for the year ended 30 September 2016 set out on pages 2 to 4 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Logan Gill Hydroelectric Ltd, as a body, in accordance with the terms of our engagement letter dated 27 February 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Logan Gill Hydroelectric Ltd and state those matters that we have agreed to state to the Board of Directors of Logan Gill Hydroelectric Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Logan Gill Hydroelectric Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Logan Gill Hydroelectric Ltd 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 Logan Gill Hydroelectric Ltd. You consider that Logan Gill Hydroelectric Ltd 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 Logan Gill Hydroelectric Ltd. 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.

Moore and Smalley LLP

Chartered Accountants

Richard House

9 Winckley Square

Preston

PR1 3HP

9 February 2017

LOGAN GILL HYDROELECTRIC LTD

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

1,257,864

1,286,452

Current assets

Debtors

58,957

35,572

Cash at bank and in hand

133,879

86,623

192,836

122,195

Creditors: amounts falling due within one year

(61,627)

(61,275)

Net current assets

131,209

60,920

Total assets less current liabilities

1,389,073

1,347,372

Creditors: amounts falling due after more than one year

(543,895)

(594,233)

845,178

753,139

Capital and reserves

Called up share capital

5,167

Share premium account

460,350

Profit and loss account

379,661

287,622

Shareholders' funds

845,178

753,139

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 7 February 2017

Mr M A J Cropper

Mr C W N Crewdson

Director

Company Registration No. 06941343

LOGAN GILL HYDROELECTRIC LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the total invoice value and Feed-In-Tariff payments due on electricity generated in the period, excluding value added tax.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

2% straight line

1.5

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

1,429,396

Depreciation

At 1 October 2015

142,944

Charge for the year

28,588

At 30 September 2016

171,532

Net book value

At 30 September 2016

1,257,864

At 30 September 2015

1,286,452

LOGAN GILL HYDROELECTRIC LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

307,469

371,155

The aggregate amount of creditors for which security has been given amounted to £594,233 (2015 - £641,335).

Share capital

2016

2015

Allotted, called up and fully paid

516,700 Ordinary of 1p each

5,167