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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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BLACKMEAD ROOFTOP HOLDCO LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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BLACKMEAD ROOFTOP HOLDCO LIMITED |
BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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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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BLACKMEAD ROOFTOP HOLDCO LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Directors: |
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Registered office: |
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Registered number: |
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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2022. |
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Directors |
The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report. |
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Going concern |
The Directors have a reasonable expectation that the company has adequate resources to be in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the annual report and accounts. |
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Small company exemption |
In preparing this report, the Directors have taken advantage of the small companies' exemptions provided by section 414B of the Companies Act 2006 not to provide a Strategic Report. |
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Statement of directors' responsibilities |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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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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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
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Turnover |
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Administrative expenses | ( |
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Operating (loss)/profit | ( |
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Income from shares in group undertakings | ( |
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(2,114,083 | ) | 3,851,947 |
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Interest payable and similar expenses | ( |
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(Loss)/profit before taxation | ( |
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Tax on (loss)/profit | 4 |
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(Loss)/profit for the financial year | ( |
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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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BALANCE SHEET |
31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
Fixed assets |
Investments | 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/(liabilities) |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 8 | ( |
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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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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. |
BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | Statutory information |
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Blackmead Rooftop Holdco Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Going concern |
The financial statements have been prepared on the going concern basis. |
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The directors of the company are satisfied after appropriate consultation with the directors of the group, review of the company's forecasts and projections, and taking into account of reasonably possible changes in trading performance and the current funds available, that the company is able to operate for at least twelve months from the signing of the Directors' Report and Financial Statements. For this reason, the directors believe that the company has adequate resources to continue in operational existence and therefore it is appropriate that the company continues to adopt the going concern basis in preparing the Directors' Report and Financial Statements. |
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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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Investments in subsidiaries |
Investments in subsidiaries are held at fair value. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | Taxation |
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Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 31 March 2022 nor for the year ended 31 March 2021. |
BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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4. | Taxation - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
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31.3.22 | 31.3.21 |
£ | £ |
(Loss)/profit before tax | ( |
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(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
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Effects of: |
Utilisation of tax losses |
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Expenses not deductible | 401,483 | - |
Effects of group relief/ other reliefs | 39,627 | - |
Total tax charge | - | - |
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5. | Fixed asset investments |
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31.3.22 | 31.3.21 |
£ | £ |
Shares in group undertakings |
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Loans to group undertakings |
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Additional information is as follows: |
Investment |
to |
subsidiary |
£ |
Cost or valuation |
At 1 April 2021 |
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Revaluations | ( |
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At 31 March 2022 |
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Net book value |
At 31 March 2022 |
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At 31 March 2021 |
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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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5. | Fixed asset investments - continued |
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Cost or valuation at 31 March 2022 is represented by: |
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Investment |
to |
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Valuation in 2018 | 1,898,214 |
Valuation in 2019 | 4,939,103 |
Valuation in 2020 | 1,372,660 |
Valuation in 2021 | 3,851,947 |
Valuation in 2022 | (2,113,070 | ) |
9,948,854 |
Loans to |
subsidiary |
£ |
At 1 April 2021 |
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Repayment in year | ( |
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At 31 March 2022 |
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6. | Debtors: amounts falling due within one year |
31.3.22 | 31.3.21 |
£ | £ |
Amounts owed by group companies | 1,576 | 64,013 |
Other debtors |
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7. | Creditors: amounts falling due within one year |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Amounts owed to group companies | - | 674,940 |
Other creditors |
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8. | Creditors: amounts falling due after more than one year |
31.3.22 | 31.3.21 |
£ | £ |
Other creditors |
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BLACKMEAD ROOFTOP HOLDCO LIMITED (REGISTERED NUMBER: 10025507) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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9. | Related party disclosures |
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Blackmead Infrastructure Limited is considered to be a related party by virtue of common directors. There was a long-term loan of £9,365,073 from Blackmead Infrastructure Limited to the Company, of which £6,939,057 was outstanding at the year end. £207,548.03 of interest was incurred on the loan during the year, of which £14,733.61 was outstanding at the year end. |
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10. | Ultimate controlling party |
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The ultimate controlling party is
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