Lomond Energy (Craigannet Windfarm) Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: SC361064 (Scotland)

LOMOND ENERGY (CRAIGANNET WINDFARM)

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

Chartered Accountants' Report

5

DIRECTORS:

Steven Macken

Deborah Macken

Ian Lawrence

Matthew Ridley

SECRETARY:

Deborah Macken

REGISTERED OFFICE:

East Cambusmoon Farm

Gartocharn

Alexandria

West Dunbartonshire

G83 8RZ

REGISTERED NUMBER:

SC361064 (Scotland)

ACCOUNTANTS:

Milne Craig

Chartered Accountants

Abercorn House

79 Renfrew Road

Paisley

Renfrewshire

PA3 4DA

BANKERS:

The Co-operative Bank

Business Direct

P O Box 250

Skelmersdale

WN8 6WT

FIXED ASSETS

Intangible assets

4

1

1

CURRENT ASSETS

Debtors

5

150

-

Cash at bank

2,437

3,406

2,587

3,406

CREDITORS

Amounts falling due within one year

6

300,263

300,263

NET CURRENT LIABILITIES

(297,676

)

(296,857

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(297,675

)

(296,856

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(297,676

)

(296,857

)

SHAREHOLDERS' FUNDS

(297,675

)

(296,856

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 April 2017 and were signed on its behalf by:

Steven Macken - Director

1.	STATUTORY INFORMATION

Lomond Energy (Craigannet Windfarm) Limited is a private company, limited by shares , registered in Scotland.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Development costs

Costs represent development costs incurred on potential windfarm development schemes and are valued at the

lower of cost less any provision for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2015

and 31 July 2016

1

NET BOOK VALUE

At 31 July 2016

1

At 31 July 2015

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

150

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Loan

300,000

300,000

Accrued expenses

263

263

300,263

300,263

7.	RELATED PARTY DISCLOSURES

The company benefited from an interest free loan from Iceni Renewables Limited totalling £300,000 (2015 -

£300,000). This company has a 50% interest in the shares of Lomond Energy (Craigannet Windfarm) Limited.

8.	ULTIMATE CONTROLLING PARTY

There is no overall controlling party.

9.	FIRST YEAR ADOPTION

The adoption of FRS 102 has had no impact on the opening financial position of the company.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lomond Energy (Craigannet Windfarm) Limited for the year ended 31 July 2016 which comprise

the Profit and loss, Balance Sheet, 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Lomond Energy (Craigannet Windfarm) 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 Lomond Energy (Craigannet Windfarm) Limited and state those matters that we have agreed to state to the Board of Directors of Lomond Energy (Craigannet Windfarm) Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lomond Energy (Craigannet Windfarm) 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 loss of Lomond Energy (Craigannet Windfarm) Limited. You consider that Lomond Energy (Craigannet Windfarm) 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 Lomond Energy (Craigannet Windfarm) 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.

Milne Craig

Chartered Accountants

Abercorn House

79 Renfrew Road

Paisley

Renfrewshire

PA3 4DA

20 April 2017