Renewable Power Systems (Dargan Road) - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06649709 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017

FOR

RENEWABLE POWER SYSTEMS (DARGAN ROAD)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Leach

J Mellor

E D Robinson

S L G Watson

REGISTERED OFFICE:

Northwood House

138 Bromham Road

Bedford

Bedfordshire

MK40 2QW

REGISTERED NUMBER:

06649709 (England and Wales)

AUDITORS:

Garner Associates LLP, Statutory Auditors

Chartered Certified Accountants

Northwood House

138 Bromham Road

Bedford

Bedfordshire

MK40 2QW

FIXED ASSETS

Intangible assets

4

670,902

726,810

Tangible assets

5

875,821

969,118

1,546,723

1,695,928

CURRENT ASSETS

Debtors

6

139,944

79,137

Cash at bank and in hand

169,906

237,534

309,850

316,671

CREDITORS

Amounts falling due within one year

7

329,015

332,538

NET CURRENT LIABILITIES

(19,165

)

(15,867

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,527,558

1,680,061

CREDITORS

Amounts falling due after more than one year

8

(754,864

)

(924,701

)

PROVISIONS FOR LIABILITIES

(118,471

)

(124,686

)

NET ASSETS

654,223

630,674

CAPITAL AND RESERVES

Called up share capital

100

100

Special Distributable Reserve

229,950

229,950

Retained earnings

424,173

400,624

SHAREHOLDERS' FUNDS

654,223

630,674

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 23 April 2018 and were signed on its behalf by:

A Leach - Director

1.	STATUTORY INFORMATION

Renewable Power Systems (Dargan Road) Limited is a private company, limited by shares , registered in

England and Wales. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

This figure also includes a provision for income earned but not invoiced up to 31 July 2017.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

Straight line over 10 to 50 years

Tangible fixed assets at the year end include two generators and two transformers. Each generator and

transformer has its own expected useful life. The expected residual values of the generators and transformers is

taken into consideration before apportioning the depreciation charge in equal instalments over the useful lives of

the plant.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 2016

and 31 July 2017

1,118,166

AMORTISATION

At 1 August 2016

391,356

Charge for year

55,908

At 31 July 2017

447,264

NET BOOK VALUE

At 31 July 2017

670,902

At 31 July 2016

726,810

Intellectual Property Rights have been created from the design of the gas generation project and are being

amortised over the expected useful life of the project of 20 years.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

1,622,197

DEPRECIATION

At 1 August 2016

653,079

Charge for year

93,297

At 31 July 2017

746,376

NET BOOK VALUE

At 31 July 2017

875,821

At 31 July 2016

969,118

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

514,264

DEPRECIATION

At 1 August 2016

179,991

Charge for year

25,713

At 31 July 2017

205,704

NET BOOK VALUE

At 31 July 2017

308,560

At 31 July 2016

334,273

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

122,354

59,681

Amounts recoverable on contract

10,635

12,637

Other debtors

6,955

6,819

139,944

79,137

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Ventus 2 VCT Loan

112,000

112,000

Hire purchase contracts

57,837

54,386

Trade creditors

15,615

20,686

Tax

11,851

3,593

VAT

737

5,742

Other creditors

130,975

136,131

329,015

332,538

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.17

31.7.16

£

£

Loan Ventus 2 VCT - 2-5 years

392,000

448,000

Loan: Ventus 2 VCT

280,000

336,000

Hire purchase contracts

82,864

140,701

754,864

924,701

Amounts falling due in more than five years:

Repayable by instalments

Loan: Ventus 2 VCT

280,000

336,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.17

31.7.16

£

£

Hire purchase contracts

140,701

195,087

Assets acquired under hire purchase contracts are secured against the underlying asset subject to contract.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gerald Gordon Garner (Senior Statutory Auditor)

for and on behalf of Garner Associates LLP, Statutory Auditors

11.	ULTIMATE CONTROLLING PARTY

The company is a joint venture between Renewable Power Systems Limited and Ventus 2 VCT plc. The

company is owned 50 / 50 between these two entities. Neither entity has a controlling position.