Foresight Solar Australia (Uk) Limited - Limited company accounts 18.2

REGISTERED NUMBER: 10202014 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Foresight Solar Australia (Uk) Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

G Fraser

D M Hughes

J C Richards

REGISTERED OFFICE:

C/O Foresight Group

The Shard

32 London Bridge Street

London

SE1 9SG

REGISTERED NUMBER:

10202014 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 March 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2017 to the

date of this report.

G Fraser

D M Hughes

J C Richards

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

G Fraser - Director

18 December 2018

TURNOVER

12,000

-

Administrative expenses

(26,641

)

-

OPERATING LOSS

(14,641

)

-

Profit on sale of investment

3

3,500,693

-

PROFIT BEFORE TAXATION

3,486,052

-

Tax on profit

(2,098

)

-

PROFIT FOR THE FINANCIAL YEAR

3,483,954

-

FIXED ASSETS

Investments

4

-

453,649

CURRENT ASSETS

Debtors

5

2,781,016

2,000

Prepayments and accrued income

707,036

-

3,488,052

2,000

CREDITORS

Amounts falling due within one year

6

(2,098

)

(453,649

)

NET CURRENT ASSETS/(LIABILITIES)

3,485,954

(451,649

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,485,954

2,000

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

3,483,954

-

3,485,954

2,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 December 2018 and were signed on its behalf by:

G Fraser - Director

1.	STATUTORY INFORMATION

Foresight Solar Australia (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.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

3.	INVESTMENTS

Period

26.5.16

Year Ended

to

31.3.18

31.3.17

£

£

Profit on sale of investment

3,500,693

-

4.	FIXED ASSET INVESTMENTS

31.3.18

31.3.17

£

£

Shares in group undertakings

-

246

Loans to group undertakings

-

453,403

-

453,649

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2017

246

Disposals

(246

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

246

Loans to

group

undertakings

£

At 1 April 2017

453,403

New in year

274,105

Repayment in year

(727,508

)

At 31 March 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Amounts owed by group undertakings

2,781,016

2,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Amounts owed to group undertakings

-

453,649

Taxation and social security

2,098

-

2,098

453,649