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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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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 2018 |
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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 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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Dgd Renewables 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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Dgd Renewables Limited (Registered number: 08966379) |
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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 and provides asset management services to Lindridge Solar Limited, which is a |
company that owns and operates a solar generating plant. |
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EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2017 to the |
date of this report. |
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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 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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(28,204 | ) | (64,775 | ) |
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Other operating income |
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( |
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OPERATING LOSS | 4 | ( |
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Income from shares in group
undertakings |
( |
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Interest receivable and similar income |
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61,106 | 577,717 |
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Interest payable and similar expenses | ( |
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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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Dgd Renewables Limited (Registered number: 08966379) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
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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CREDITORS |
Amounts falling due after more than
one year |
10 |
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( |
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NET ASSETS |
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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 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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Dgd Renewables Limited (Registered number: 08966379) |
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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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Dgd Renewables 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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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. |
Dgd Renewables Limited (Registered number: 08966379) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - 1 ). |
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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31.3.18 | 31.3.17 |
£ | £ |
Depreciation - owned assets |
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5. | EXCEPTIONAL ITEMS |
31.3.18 | 31.3.17 |
£ | £ |
Exceptional items | 1 | - |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2017 |
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Additions |
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At 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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7. | FIXED ASSET INVESTMENTS |
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31.3.18 | 31.3.17 |
£ | £ |
Shares in group undertakings |
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Loans to group undertakings |
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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 2018 |
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7. | FIXED ASSET INVESTMENTS - continued |
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Additional information is as follows: |
Investment |
in |
subsidiary |
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COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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PROVISIONS |
At 1 April 2017 | (519,309 | ) |
Provision for year | 84,876 |
At 31 March 2018 | (434,433 | ) |
NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Loan to |
subsidiary |
£ |
At 1 April 2017 |
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Repayment in year | ( |
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At 31 March 2018 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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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 2018 |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other creditors |
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11. | RELATED PARTY DISCLOSURES |
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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 £165,069 excluding VAT during the course of the year, of |
which nothing was outstanding at the year end. |
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Lindridge Solar Limited is a wholly owned subsidiary of the Company. During the year, the |
Company invoiced Lindridge Solar Limited £199,100 excluding VAT and there was a total |
outstanding balance of £119,460 including VAT at year end. Additionally there was an |
intercompany balance of £20,000 owed from the subsidiary at the end of the year. |
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During the year there was a shareholder loan of £254,703 owed from Lindridge Solar Limited |
to the Company, all of which was outstanding at year-end. There was £169,594 of interest |
incurred on the loan and an outstanding balance of £3,140 at the year end. |
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12. | POST BALANCE SHEET EVENTS |
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On 29th November 2018, DGD Renewables Limited sold its investment in Lindridge Solar |
Limited. |
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13. | ULTIMATE CONTROLLING PARTY |
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In the opinion of the directors, there is no ultimate controlling party. |