Wefit Wind (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07691777 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WEFIT WIND (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C A Murrison

REGISTERED OFFICE:

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

REGISTERED NUMBER:

07691777 (England and Wales)

ACCOUNTANTS:

John Kerr - Chartered Accountants

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

FIXED ASSETS

Tangible assets

3

856,777

912,316

CURRENT ASSETS

Debtors

4

56,794

30,297

Cash at bank

68,776

73,337

125,570

103,634

CREDITORS

Amounts falling due within one year

5

2,044,085

1,947,455

NET CURRENT LIABILITIES

(1,918,515

)

(1,843,821

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,061,738

)

(931,505

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,061,739

)

(931,506

)

SHAREHOLDERS' FUNDS

(1,061,738

)

(931,505

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 18 September 2018 and were signed by:

C A Murrison - Director

1.	STATUTORY INFORMATION

Wefit Wind (UK) 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.

The company meets its day to day working capital requirements through loan facilities provided by its parent

company - Wefit Limited.

The company's forecasts and projections, taking account of reasonably possible changes in trading performance,

show that the company should be able to operate within the level of its current financing facilities. No matters

have been drawn to its attention to suggest that the ongoing availability of adequate financing facilities will not be

forthcoming on acceptable terms.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to

continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern

basis in preparing the financial statements.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

5% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2017

and 31 December 2017

1,110,777

DEPRECIATION

At 1 January 2017

198,461

Charge for year

55,539

At 31 December 2017

254,000

NET BOOK VALUE

At 31 December 2017

856,777

At 31 December 2016

912,316

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

3,107

1,806

VAT

12

1,164

Prepayments and accrued income

53,675

27,327

56,794

30,297

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

7,112

11,441

Amounts owed to group undertakings

2,035,047

1,933,901

Accruals and deferred income

1,926

2,113

2,044,085

1,947,455

6.	PARENT COMPANY