Chantico Solar Limited
Chantico Solar Limited
Registered number: 07743902
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2018
Chantico Solar Limited
Unaudited Financial Statements
For The Year Ended 31 December 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Chantico Solar Limited
Abridged Balance Sheet
As at
31 December 2018
Abridged Balance Sheet
Registered number:
07743902
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | (2,039,637) | (2,039,637) | |||
| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (555,003) | (574,703) | |||
Page 1
Chantico Solar Limited
Abridged Balance Sheet (continued)
As at
31 December 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2018 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Chantico Solar Limited
Notes to the Abridged Financial Statements
For The Year Ended 31 December 2018
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Revenue is recognised to the extent that it is probable that economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales taxes.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Directors and company secretaries |
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3.
Tangible Assets
| Total | |
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| £ | |
| Cost | |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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Chantico Solar Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 December 2018
4.
Other Commitments
Contingent liabilities
The Company has a constructive obligation to return the land on which the solar sites are built to its original condition at the end of the lease. The directors believe that given the nature of the assets, the lessor may wish to either take title of the assets for either continued use or to realise value through selling the assets. As such, the directors do not believe that an outflow is probable to settle this restoration obligation. The directors will continue to monitor this situation at each balance sheet date.
Commitments under operating leases
The total of future minimum lease payments under non-cancellable operating leases are set out below. The amounts due are increased each year by the RPI.
| Land and buildings | ||
|---|---|---|
| 2018 | 2017 | |
| £ | £ | |
| Within 1 year | 10,581 | 10,539 |
| Between 1 and 5 years | 42,323 | 42,323 |
| After 5 years | 137,836 | 159,147 |
| 190,740 | 212,009 | |
5.
Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is Adala Solar Limited.
Adala Solar Limited was incorporated in England and Wales. Its registered office address is Westminster House, 10 Westminster Road, Macclesfield, Cheshire, SK10 1BX.
In May 2018, Adala Solar Limited was acquired by Atmosclear Investments Limited.
6.
General Information
Chantico Solar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07743902 . The registered office is Westminster House, 10 Westminster Road, Macclesfield, Cheshire, SK10 1BX.
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