IRIS Accounts Production
v18.1.2.30
08748114
Board of Directors
1.1.17
31.12.17
31.12.17
The Company owns and provides asset management services to Balls Wood Solar Limited, which is a company that operates a solar energy generating plant.
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REGISTERED NUMBER:
08748114
(England and Wales)
|
Report of the Directors and
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Unaudited Financial Statements for the Year Ended 31 December 2017
|
Parallax Enterprises Limited
|
Report of the Directors
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2
|
|
Notes to the Financial Statements
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6
|
|
|
Pinecroft Corporate Services Limited |
|
REGISTERED OFFICE:
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89 King Street
|
|
REGISTERED NUMBER:
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08748114 (England and Wales)
|
The directors present their report with the financial statements of the company for the year ended 31 December 2017. |
The directors shown below have held office during the whole of the period from 1 January 2017 to
|
Pinecroft Corporate Services Limited |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
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2006 relating to small companies.
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Administrative expenses
|
177,167
|
|
167,923
|
|
|
OPERATING PROFIT/(LOSS)
|
4
|
24,213
|
|
(5,918
|
) |
|
Income from shares in group
undertakings
|
(623,893
|
) |
279,970
|
|
|
Interest receivable and similar
income
|
290,599
|
|
240,671
|
|
|
(LOSS)/PROFIT BEFORE TAXATION
|
(309,081
|
) |
514,723
|
|
|
(LOSS)/PROFIT FOR THE
FINANCIAL YEAR
|
(309,081
|
) |
514,723
|
|
|
Tangible assets
|
5
|
28,114
|
|
29,390
|
|
|
Investments
|
6
|
1,326,684
|
|
6,714,906
|
|
|
Debtors
|
7
|
547,901
|
|
136,593
|
|
|
Cash at bank
|
4,789,354
|
|
547,658
|
|
|
Amounts falling due within one year
|
8
|
(8,557
|
) |
280,172
|
|
|
NET CURRENT ASSETS
|
5,345,812
|
|
404,079
|
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
6,700,610
|
|
7,148,375
|
|
|
Called up share capital
|
71,279
|
|
71,279
|
|
|
Share premium
|
-
|
|
6,916,346
|
|
|
Share premium cancellation
|
6,914,878
|
|
-
|
|
|
Retained earnings
|
(285,547
|
) |
160,750
|
|
|
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 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
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(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
13 August 2018 and were
signed on its behalf by:
|
|
Parallax Enterprises 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.
|
|
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 is measured at the fair value of the consideration received or receivable, excluding
|
|
discounts, rebates, value added tax and other sales taxes.
|
|
Depreciation is provided at the following annual rates in order to write off each asset over its
|
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Plant and machinery etc - 4% on cost
|
|
Investments in subsidiaries
|
|
Investments in subsidiary undertakings are recognised at cost less any provision for
|
|
Shares in the subsidiary are periodically revalued to reflect the fair value of the underlying
|
|
asset. Any unrealised gains or losses are put through the profit and loss account in the
|
|
period in which they occur.
|
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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.
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|
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
|
|
Currently there is no deferred tax being recognised in the financial statements.
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3.
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EMPLOYEES AND DIRECTORS
|
|
The average number of employees during the year was NIL (2016 - 1 ).
|
4.
|
OPERATING PROFIT/(LOSS)
|
|
The operating profit (2016 - operating loss) is stated after charging:
|
|
Depreciation - owned assets
|
1,276
|
|
1,800
|
|
|
|
and 31 December 2017
|
31,908
|
|
|
|
At 31 December 2017
|
3,794
|
|
|
|
At 31 December 2017
|
28,114
|
|
|
|
At 31 December 2016
|
29,390
|
|
|
6.
|
FIXED ASSET INVESTMENTS
|
|
Shares in group undertakings
|
410,287
|
|
910,871
|
|
|
|
Loans to group undertakings
|
916,397
|
|
5,804,035
|
|
|
|
Additional information is as follows:
|
|
At 1 January 2017
|
630,901
|
|
|
|
At 31 December 2017
|
754,211
|
|
|
|
At 1 January 2017
|
(279,970 |
) |
|
|
Provision for year
|
623,894 |
|
|
|
At 31 December 2017
|
343,924 |
|
|
|
At 31 December 2017
|
410,287
|
|
|
|
At 31 December 2016
|
910,871
|
|
|
|
At 1 January 2017
|
5,804,035
|
|
|
|
Repayment in year
|
(4,887,638
|
) |
|
|
At 31 December 2017
|
916,397
|
|
|
7.
|
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Other debtors
|
487,511
|
|
136,593
|
|
|
8.
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade creditors
|
(8,557
|
) |
(57,020
|
) |
|
|
Amounts owed to group undertakings
|
-
|
|
336,865
|
|
|
9.
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RELATED PARTY DISCLOSURES
|
|
Foresight Group LLP is considered to be a related party by virtue of the fact that the
|
|
directors of Foresight Group LLP, Gary Fraser and David Hughes, are also directors of
|
|
Pinecroft Corporate Services Limited, which is in turn a corporate director of the Company.
|
|
Foresight Group invoiced the Company £194,910 including VAT during the course of the
|
|
year, of which £1500 was outstanding at the end of the year.
|
|
Blackmead Infrastructure Ltd is considered to be a related party by virtue of the fact that
|
|
Foresight Group are the investment managers for both Parallax Enterprises Limited and
|
|
Blackmead Infrastructure Limited, and the director of Blackmead Infrastructure Limited is
|
|
also a director of Pinecroft Corporate Services Limited, which is in turn a corporate director
|
|
of the Company. Parallax Enterprises Limited paid dividends of £137,216 to Blackmead
|
|
Infrastructure for its shares during the course of the year.
|
|
Balls Wood Solar Limited is a wholly owned subsidiary of Parallax Enterprises Limited.
|
|
During the year, Parallax Enterprises Limited invoiced Balls Wood Solar Limited £241,560
|
|
including VAT of which £60,390 was outstanding at year end. There is an outstanding
|
|
shareholder loan of £916,397 with all interest paid during the year.
|
10.
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ULTIMATE CONTROLLING PARTY
|
|
In the opinion of the directors there is no ultimate controlling party.
|