Company registration number 11550492 (England and Wales)
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 - 6
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,776,572
2,976,899
Current assets
Stocks
7,700
-
Debtors
5
456,180
523,444
Cash at bank and in hand
77,959
387,632
541,839
911,076
Creditors: amounts falling due within one year
6
(791,595)
(1,188,954)
Net current liabilities
(249,756)
(277,878)
Total assets less current liabilities
5,526,816
2,699,021
Creditors: amounts falling due after more than one year
7
(5,908,913)
(2,726,666)
Net liabilities
(382,097)
(27,645)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(382,098)
(27,646)
Total equity
(382,097)
(27,645)
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 21 December 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 2023
- 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 amounts 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
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
1.4
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.
Combined heat & power plant
15 years
Solar plant
25 years
1.5
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.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock consists of Diesel for use in the combined heat and power plant.
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Debtors and creditors payable / receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Other operating income
Other operating income consists of income generated from the landlord from giving it access to the site.
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:
2023
2022
Number
Number
Total
2
2
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Tangible fixed assets
Assets under construction
Combined heat & power plant
Solar plant
Total
£
£
£
£
Cost
At 1 April 2022
2,976,899
2,976,899
Additions
3,093,063
-
3,093,063
Transfers
(6,069,962)
5,749,068
320,894
At 31 March 2023
5,749,068
320,894
6,069,962
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
290,181
3,209
293,390
At 31 March 2023
290,181
3,209
293,390
Carrying amount
At 31 March 2023
5,458,887
317,685
5,776,572
At 31 March 2022
2,976,899
2,976,899
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
27,369
Amounts owed by group undertakings
12,800
Other debtors
7,417
Prepayments and accrued income
416,011
516,027
456,180
523,444
6
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Deferred income
69,004
Trade creditors
16,064
263,977
Amounts owed to group undertakings
16,652
10,351
Other creditors
2,754
Accruals
687,121
914,626
791,595
1,188,954
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Loans
2,596,740
903,233
Deferred income
3,312,173
1,823,433
5,908,913
2,726,666
8
Share capital
2023
2022
2023
2022
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:
2023
2022
£
£
Acquisition of tangible fixed assets
-
3,017,085
-
3,017,085
SYMMETRY BASEPOWER BIGGLESWADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
11
Related party transactions
The company's related parties with which the company had transactions during the period are as follows:
Basepower Limited: Immediate parent company
During the year, the company was charged administration fees of £42,655 (2022: £4,000) by Basepower Limited. At 31 March 2023, the company owed £16,652 (2022: £10,351) to Basepower Limited in respect of these fees.
During the year, the company was charged £3,093,063 (2022: £2,976,899) by Basepower Limited in relation to the construction of the plant and machinery for the company.
At 31 March 2023 the company had balances due to Basepower Limited and accruals for amounts yet to be invoiced by Basepower Limited totalling £55,422 (2022: £15,851).
At 31 March 2023 the company had accruals relating to build costs yet to be invoiced by Basepower Limited of £366,764 (2022: £899,376).
12
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.
2023-03-312022-04-01false21 December 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr D H PoulsonMr H G H Fowkesfalse115504922022-04-012023-03-31115504922023-03-31115504922022-03-3111550492core:ConstructionInProgressAssetsUnderConstruction2023-03-3111550492core:PlantMachinery2023-03-3111550492core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-3111550492core:ConstructionInProgressAssetsUnderConstruction2022-03-3111550492core:PlantMachinery2022-03-3111550492core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-3111550492core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111550492core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3111550492core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111550492core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3111550492core:CurrentFinancialInstruments2023-03-3111550492core:CurrentFinancialInstruments2022-03-3111550492core:Non-currentFinancialInstruments2023-03-3111550492core:Non-currentFinancialInstruments2022-03-3111550492core:ShareCapital2023-03-3111550492core:ShareCapital2022-03-3111550492core:RetainedEarningsAccumulatedLosses2023-03-3111550492core:RetainedEarningsAccumulatedLosses2022-03-3111550492bus:Director12022-04-012023-03-3111550492core:PlantMachinery2022-04-012023-03-3111550492core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-04-012023-03-31115504922021-04-012022-03-3111550492core:ConstructionInProgressAssetsUnderConstruction2022-03-3111550492core:PlantMachinery2022-03-3111550492core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-31115504922022-03-3111550492core:ConstructionInProgressAssetsUnderConstruction2022-04-012023-03-3111550492bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111550492bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3111550492bus:FRS1022022-04-012023-03-3111550492bus:Audited2022-04-012023-03-3111550492bus:Director22022-04-012023-03-3111550492bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP