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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Joply Power Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Joply Power Limited |
Joply Power Limited (Registered number: 07867097) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Joply Power Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Joply Power Limited (Registered number: 07867097) |
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Report of the Directors |
for the Year Ended 31 March 2018 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2018. |
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PRINCIPAL ACTIVITY |
The Company owns residential rooftop assets from which it generates revenue from electricity |
production. |
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DIRECTORS |
The directors who have held office during the period from 1 April 2017 to the date of this report are |
as follows: |
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GOING CONCERN |
These accounts have been prepared on a going concern basis. The directors believe that this basis |
is appropriate following consideration of cash flow forecasts, which show that the Company is able to |
meet its liabilities as they fall due. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act |
2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Joply Power Limited (Registered number: 07867097) |
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Income Statement |
for the Year Ended 31 March 2018 |
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Period |
6.4.16 |
Year Ended | to |
31.3.18 | 31.3.17 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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43,678 | 50,301 |
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Other operating income |
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OPERATING PROFIT | 3 |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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Joply Power Limited (Registered number: 07867097) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387
of the Companies Act 2006 and |
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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. |
Joply Power Limited (Registered number: 07867097) |
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Balance Sheet - continued |
31 March 2018 |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Joply Power Limited (Registered number: 07867097) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Joply Power Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Going concern |
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These accounts have been prepared on a going concern basis. The directors believe that this |
basis is appropriate following consideration of cash flow forecasts, which show that the |
Company is able to meet its liabilities as they fall due. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', |
not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
Joply Power Limited (Registered number: 07867097) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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Period |
6.4.16 |
Year Ended | to |
31.3.18 | 31.3.17 |
£ | £ |
Depreciation - owned assets |
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4. | DEFERRED TAX |
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A deferred tax liability of £45,394 is currently being recognised. |
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A deferred tax asset of £14,381 in respect to the operating loss is currently being recognised. |
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B/f losses -£112,253 |
Trading profit £53,068 |
Non-deductible expenses £67,595 |
Capital allowances -£84,101 |
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Final -£75,691 |
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Deferred tax asset £14,381 |
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A deferred tax liability of £59,776 in respect to the timing differences between the recognition |
of capital allowances and depreciation is currently being recognised. |
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Net book value £1,284,645 |
Tax written down value £970,036 |
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Deferred tax liability £59,776 |
Joply Power Limited (Registered number: 07867097) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Amounts owed by group undertakings |
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Prepayments and accrued income | 42,963 | 43,004 |
VAT |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Accrued expenses |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Averon Park Limited. |