Company registration number 11550492 (England and Wales)
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
COMPANY INFORMATION
Directors
Mr D H W Poulson
Mr H G H Fowkes
Company number
11550492
Registered office
2nd Floor Regis House
45 King William Street
London
United Kingdom
EC4R 9AN
Auditor
Azets Audit Services
2nd Floor Regis House
45 King William Street
London
United Kingdom
EC4R 9AN
Business address
Build Studios
203 Westminster Bridge Road
London
United Kingdom
SE1 7FR
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 1 -
2022
2021
(audited)
(unaudited)
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,976,899
49,221
Current assets
Debtors
5
523,444
Cash at bank and in hand
387,632
1
911,076
1
Creditors: amounts falling due within one year
6
(1,188,954)
(50,721)
Net current liabilities
(277,878)
(50,720)
Total assets less current liabilities
2,699,021
(1,499)
Creditors: amounts falling due after more than one year
7
(2,726,666)
Net liabilities
(27,645)
(1,499)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(27,646)
(1,500)
Total equity
(27,645)
(1,499)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2023 and are signed on its behalf by:
Mr D H W Poulson
Director
Company Registration No. 11550492
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Symmetry Basepower Biggleswade Limited is a private company limited by shares incorporated in England and Wales. The registered office can be found on the company information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the requirements of the Companies Act 2006.The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment losses. Cost comprises the aggregate amount paid and the fair value of any other consideration given to acquire the asset and includes costs directly attributable to making the asset capable of operating as intended.
Costs directly associated with the construction of Combined Heat & Power Plants are recognised in the financial statements as assets under construction at the point at which they are considered to be virtually certain to proceed to completion. Expenses incurred prior to the point of virtual certainty are charged against income when incurred. Costs are transferred from assets under construction to plant and machinery and depreciation commences when the asset is available for use.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
Classification of financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
4
Tangible fixed assets
Assets under construction
£
Cost
At 1 April 2021
49,221
Additions
2,927,676
At 31 March 2022
2,976,899
Depreciation and impairment
At 1 April 2021 and 31 March 2022
Carrying amount
At 31 March 2022
2,976,899
At 31 March 2021
49,221
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
7,417
Prepayments and accrued income
516,027
523,444
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
263,977
Amounts owed to group undertakings
10,351
49,220
Accruals and deferred income
914,626
1,501
1,188,954
50,721
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Loans
903,233
Deferred income
1,823,433
2,726,666
The loan is secured by fixed and floating charges on the company's tangible fixed assets.
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
8
Share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 of £1 each
1
1
1
1
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was John Howard and the auditor was Azets Audit Services.
10
Capital commitments
Amounts contracted for but not provided in the financial statements:
2022
2021
£
£
Acquisition of tangible fixed assets
3,017,085
-
3,017,085
11
Ultimate controlling party
The company is a subsidiary undertakinng of Basepower Limited (company number 09124995), a company registered in England and Wales.
The company has no ultimate controlling party.