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Financial Statements for the Year Ended 31 December 2017 |
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SOLAR INVEST UK LIMITED |
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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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SOLAR INVEST UK LIMITED |
SOLAR INVEST UK LIMITED (Registered number: 10080617) |
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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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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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SOLAR INVEST UK LIMITED |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
Statutory Auditors |
Chester House |
17 Gold Tops |
Newport |
SOUTH WALES |
NP20 4PH |
SOLAR INVEST UK LIMITED (Registered number: 10080617) |
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Statement of Financial Position |
31 December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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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 Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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SOLAR INVEST UK LIMITED (Registered number: 10080617) |
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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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SOLAR INVEST UK LIMITED is a
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company's 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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Despite the fact that the company had net liabilities at the period end, the directors believe that it is appropriate |
to prepare the financial statements under the going concern basis as the company has the continued support of |
other group members. |
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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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Turnover |
Revenue 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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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangements |
as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity |
instrument is any contract that evidences a residual interest in the assets of the company after deducting all its |
liabilities. |
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Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement |
constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate |
of interest for a similar debt instrument. |
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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 statement of financial position date. |
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SOLAR INVEST UK LIMITED (Registered number: 10080617) |
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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 |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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3. | AUDITORS' REMUNERATION |
Period |
23.3.16 |
Year Ended | to |
31.12.17 | 31.12.16 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
1,680 |
1,200 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Amounts owed by related parties |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Other loans |
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Trade creditors |
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Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Other loans - 1-2 years |
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SOLAR INVEST UK LIMITED (Registered number: 10080617) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.17 | 31.12.16 |
£ | £ |
Other loans |
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The repayments of the Loan and Indebtedness will be secured by a guarantee given by WELink Energy (Europe) |
Limited as guarantor and indemnifier in favour of the lender. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | 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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10. | RELATED PARTY DISCLOSURES |
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Related Party | Relationship |
Amount due from / (to)
related party |
WELink Energy (UK) Limited | Common controlling party | £2,257,081 |
WELink Energy Holdings (UK) Limited | Immediate controlling party | £100 |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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The immediate parent company is WELink Energy Holdings (U.K.) Limited. |
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The largest and smallest group for which group financial statements are prepared, and of which the company is a |
member, is as follows: |
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Name: | Ableon Limited |
Country of Incorporation: | Ireland |
Address from where copies of the financial | 22 Avoca Wood |
statements can be obtained: | Avoca |
Co. Wicklow |