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Financial Statements for the Year Ended 31 December 2017 |
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SSB Cotgrave Ltd |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2017 |
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for |
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SSB Cotgrave Ltd |
SSB Cotgrave Ltd (Registered number: 08898448) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SSB Cotgrave Ltd |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Certified Accountants & |
Statutory Auditors |
48 Belle Vue Terrace |
Malvern |
Worcestershire |
WR14 4QG |
SSB Cotgrave Ltd (Registered number: 08898448) |
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Abridged Balance Sheet |
31 December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Fair value reserve | ( |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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SSB Cotgrave Ltd (Registered number: 08898448) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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SSB Cotgrave Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Land and buildings | - |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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, these financial statements have been prepared on the |
going concern basis. |
SSB Cotgrave Ltd (Registered number: 08898448) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Provision for decommissioning costs |
No provision has been made within these accounts for future decommissioning costs of the equipment included |
within fixed assets. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost. |
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Non-basic financial instruments are initially recorded at cost and thereafter at fair value with changes recognised |
in profit and loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2016 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.17 | 31.12.16 |
£ | £ |
Bank loans |
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The loan from Santander is secured by a charge over the land held under a 25 year lease at The Gozens, |
Cotgrave, Nottinghamshire, the solar electricity generating equipment installed thereon and all bank accounts in |
the name of SSB Cotgrave Ltd. |
SSB Cotgrave Ltd (Registered number: 08898448) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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6. | FINANCIAL INSTRUMENTS |
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The company was not previously required to recognise derivative financial instruments on the balance sheet and |
instead the effects of the derivative financial instruments were recognised in profit and loss on settlement. |
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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. |
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At the end of the current year the Mark to Market (MTM) valuation of the derivative instrument was £217,892 |
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 included both within Other Creditors and the Fair Value Reserve. |
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The market valuations are provided by Santander, the lender. |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | CONTINGENT LIABILITIES |
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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 lease expiry. |
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9. | CONTROL |
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The controlling party is Sedgwick Solar Limited. |
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The company has no ultimate controlling party. |