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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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DGD Renewables 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 2019 |
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for |
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DGD Renewables Limited |
DGD Renewables Limited (Registered number: 08966379) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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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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DGD Renewables Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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DGD Renewables Limited (Registered number: 08966379) |
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Report of the Directors |
for the Year Ended 31 March 2019 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2019. |
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PRINCIPAL ACTIVITY |
The Company owned and provided asset management services to Lindridge Solar Limited, which was sold |
during the course of the year. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2018 to the date of this |
report. |
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Other changes in directors holding office are as follows: |
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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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DGD Renewables Limited (Registered number: 08966379) |
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Income Statement |
for the Year Ended 31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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OPERATING LOSS | 4 | ( |
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Profit/loss on disposal | 5 | ( |
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(168,466 | ) | (28,204 | ) |
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Income from shares in group
undertakings |
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( |
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Interest receivable and similar income |
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(97,350 | ) | 61,106 |
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Interest payable and similar expenses |
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( |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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DGD Renewables Limited (Registered number: 08966379) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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Investments | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
DGD Renewables Limited (Registered number: 08966379) |
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Balance Sheet - continued |
31 March 2019 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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DGD Renewables Limited (Registered number: 08966379) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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DGD Renewables Limited is a
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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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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 |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life: |
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4% straight-line |
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Investments in subsidiaries |
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 in the period in which they occur. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
DGD Renewables Limited (Registered number: 08966379) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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31.3.19 | 31.3.18 |
£ | £ |
Depreciation - owned assets |
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5. | EXCEPTIONAL ITEMS |
31.3.19 | 31.3.18 |
£ | £ |
Exceptional items | (13,777 | ) | 1 |
Profit/loss on disposal | ( |
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(72,483 | ) | 1 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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7. | FIXED ASSET INVESTMENTS |
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31.3.19 | 31.3.18 |
£ | £ |
Shares in group undertakings |
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Loans to group undertakings |
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Other loans |
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DGD Renewables Limited (Registered number: 08966379) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | FIXED ASSET INVESTMENTS - continued |
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Additional information is as follows: |
Investment |
in |
subsidiary |
£ |
COST OR VALUATION |
At 1 April 2018 |
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Disposals | ( |
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At 31 March 2019 |
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PROVISIONS |
At 1 April 2018 | (434,433 | ) |
Provision for year | 434,433 |
At 31 March 2019 | - |
NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Cost or valuation at 31 March 2019 is represented by: |
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Investment |
in |
subsidiary |
£ |
Valuation in 2018 | 1,252,678 |
Valuation in 2019 | (1,252,678 | ) |
Loan to | Other |
subsidiary | loans | Totals |
£ | £ | £ |
At 1 April 2018 |
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New in year |
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Repayment in year | ( |
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( |
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At 31 March 2019 |
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DGD Renewables Limited (Registered number: 08966379) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Accrued income | - | 100 |
Sh/holder loan int receivable | - | 3,140 |
Prepayments |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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10. | RELATED PARTY DISCLOSURES |
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Betelgeuse Solar Limited is considered to be a related party by virtue of common directors. DGD |
Renewables Limited loaned £3,136,702 to Betelgeuse Solar Limited during the course of the year. At |
the year end, there was a total loan amount of £3,136,702. A further loan was made to Capri Energy |
Limited in the amount of £1,400,000 during the year, which was still outstanding at year end. |
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Lindridge Solar Limited is a wholly owned subsidiary of DGD Renewables Limited. During the year |
there was a shareholder loan of £254,703 owed from Lindridge Solar Limited to the Company. At the |
year end there was nothing outstanding from this loan. |
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There was £6,385 of interest incurred on the loan during the year with nothing left outstanding at the |
year end. Additionally, during the year, DGD Renewables Limited invoiced Lindridge Solar Limited |
£133,555 excluding VAT for asset management services, of which nothing was outstanding at the year |
end. |
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On 29th November 2018, DGD Renewables Limited sold its investment in Lindridge Solar Limited. |
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Foresight Group LLP is considered to be a related party by virtue of the fact that the partners 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 LLP invoiced |
the Company £194,556 excluding VAT during the course of the year, of which nothing was outstanding |
at the year end. |
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11. | ULTIMATE CONTROLLING PARTY |
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In the opinion of the directors, there is no ultimate controlling party. |