Anesco Solar Rooftop 1 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09651117 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Anesco Solar Rooftop 1 Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Cook

R L Simmonds

REGISTERED OFFICE:

1350-1360 Montpellier Court

Brockworth

Gloucester

Gloucestershire

GL3 4AH

REGISTERED NUMBER:

09651117 (England and Wales)

AUDITORS:

Charles Hinitt & Associates Limited

Chartered Certified Accountants &

Statutory Auditors

48 Belle Vue Terrace

Malvern

Worcestershire

WR14 4QG

FIXED ASSETS

Tangible assets

4

3,901,620

4,079,204

CURRENT ASSETS

Debtors

213,623

176,130

Cash at bank

320,239

259,921

533,862

436,051

CREDITORS

Amounts falling due within one year

1,380,961

1,512,478

NET CURRENT LIABILITIES

(847,099

)

(1,076,427

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,054,521

3,002,777

CREDITORS

Amounts falling due after more than one year

2,644,992

2,644,992

NET ASSETS

409,529

357,785

CAPITAL AND RESERVES

Called up share capital

1

1

Other reserves

365,547

308,186

Fair value reserve

7

(32,238

)

(44,680

)

Retained earnings

76,219

94,278

SHAREHOLDERS' FUNDS

409,529

357,785

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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors on 27 September 2018 and were signed on its behalf by:

R J Cook - Director

1.	STATUTORY INFORMATION

Anesco Solar Rooftop 1 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

5% on cost

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. For the immediate future the company will rely on the continuing support of

its parent company, Sedgwick Solar Limited. Accordingly financial statements have been prepared on the going

concern basis.

Provision for decommissioning costs

No provision has been made within these accounts for future decommissioning costs of the equipment included

within fixed assets.

Financial instruments

Basic financial instruments are recognised at amortised cost.

Non-basic financial instruments are initially recorded at cost and thereafter at fair value with changes recognised

in the profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

4,293,903

Additions

4,017

At 31 December 2017

4,297,920

DEPRECIATION

At 1 January 2017

214,699

Charge for year

181,601

At 31 December 2017

396,300

NET BOOK VALUE

At 31 December 2017

3,901,620

At 31 December 2016

4,079,204

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

2,644,992

2,721,124

The loan from Santander is secured by two charges - one over the leasehold interest in the land known as

Bannatynes Health Club, White Rose Close, York Business Park, Nether Poppleton, York YO26 6RL and

another over the leasehold interest in the land known as Bannatynes Health Clubs at nineteen other locations

including Banbury Rugby Club, Oxford Road, Bodicote, Banbury OX15 4AF and land at Wellington College.

The charges also extend to all solar electricity generating equipment installed on the rooftops of these properties

and all bank accounts in the name of Anesco Solar Rooftop 1 Limited.

6.	FINANCIAL INSTRUMENTS

Under FRS 102, derivative financial instruments are classified as 'other financial instruments' and are recognised

as a financial asset or liability at fair value when an entity becomes party to the contractual provisions of the

instrument.

At the end of the current year the Mark to Market (MTM) value of the derivative was £32,238 in favour of the

lender, and is deemed to be the fair value. The fair value of the derivative instrument at 31 December 2017 has

been calculated both within Other Creditors and the Fair Value Reserve.

The market valuations are provided by Santander, the lender.

7.

RESERVES

Fair

value

reserve

£

At 1 January 2017

(44,680

)

Interest rate SWAP

12,442

At 31 December 2017

(32,238

)

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

The Report of the Auditors was unqualified.

Charles Hinitt FCCA (Senior Statutory Auditor)

for and on behalf of Charles Hinitt & Associates Limited

9.	CONTINGENT LIABILITIES

No provision has been made within these accounts for any future decommissioning costs which might be

necessary at the end of the lease with the freeholder. The directors consider that these costs will be covered by

future economic benefits which may accrue after the leases expire.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Sedgwick Solar Limited.

The company has no ultimate controlling party.