Registration number:
Energyfarm UK GL II Ltd
for the Period from 8 July 2019 to 31 December 2020
Energyfarm UK GL II Ltd
Contents
Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Energyfarm UK GL II Ltd
Company Information
Directors |
PR Harrison A B Craw |
Registered office |
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Auditors |
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Page 1 |
Energyfarm UK GL II Ltd
Directors' Report for the Period from 8 July 2019 to 31 December 2020
The directors present their report and the financial statements for the period from 8 July 2019 to 31 December 2020.
Incorporation
The Company was incorporated on
Principal activity
The principal activity of the company is as a partner in a wind farm project
Directors of the Company
The directors who held office during the period were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the
.........................................
Director
Page 2 |
Energyfarm UK GL II Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
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:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
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.
The directors confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the company’s auditors are unaware. They have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information
Page 3 |
Energyfarm UK GL II Ltd
Independent Auditor's Report to the Members of Energyfarm UK GL II Ltd
Opinion
We have audited the financial statements of Energyfarm UK GL II Ltd (the 'Company') for the period from 8 July 2019 to 31 December 2020, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• |
give a true and fair view of the state of the Company's affairs as at 31 December 2020 and of its loss for the period then ended; |
• |
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• |
have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
• |
the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
• |
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 4 |
Energyfarm UK GL II Ltd
Independent Auditor's Report to the Members of Energyfarm UK GL II Ltd
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Directors' Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
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the financial statements are not in agreement with the accounting records and returns; or |
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certain disclosures of directors’ remuneration specified by law are not made; or |
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we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Page 5 |
Energyfarm UK GL II Ltd
Independent Auditor's Report to the Members of Energyfarm UK GL II Ltd
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
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Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the Company audit. We remain solely responsible for our audit opinion. |
Page 6 |
Energyfarm UK GL II Ltd
Independent Auditor's Report to the Members of Energyfarm UK GL II Ltd
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Chartered Accountants
Sovereign House
212-224 Shaftesbury Avenue
WC2H 8HQ
Page 7 |
Energyfarm UK GL II Ltd
Profit and Loss Account for the Period from 8 July 2019 to 31 December 2020
2020 |
|
Turnover |
- |
Gross profit/(loss) |
- |
Other operating income |
( |
Operating loss |
(3,500) |
Loss before tax |
( |
Loss for the financial period |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Page 8 |
Energyfarm UK GL II Ltd
Statement of Comprehensive Income for the Period from 8 July 2019 to 31 December 2020
2020 |
|
Loss for the period |
( |
Total comprehensive income for the period |
( |
Page 9 |
Energyfarm UK GL II Ltd
(Registration number: 12091566)
Balance Sheet as at 31 December 2020
Note |
2020 |
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Fixed assets |
||
Investments |
|
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Current assets |
||
Debtors |
|
|
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
1 |
|
Profit and loss account |
(3,500) |
|
Shareholders' deficit |
(3,499) |
Approved and authorised by the
.........................................
Director
Page 10 |
Energyfarm UK GL II Ltd
Statement of Changes in Equity for the Period from 8 July 2019 to 31 December 2020
Share capital |
Profit and loss account |
Total |
|
Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
New share capital subscribed |
|
- |
|
At 31 December 2020 |
|
( |
( |
Page 11 |
Energyfarm UK GL II Ltd
Notes to the Financial Statements for the Period from 8 July 2019 to 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Principal activity
The principal activity of the company is partners in a windfarm project.
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The individual financial statements have been prepared in compliance with United Kingdom
Accounting standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard
applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
As a qualifying entity, the individual company has taken advantage of the exemption, under Section 1.12 of FRS 102, not to prepare a Statement of Cash Flows; from the requirement to present financial instrument disclosures, as required by FRS 102 paragraphs 11.40 to 11.48A, 12.26 to 12.29A; and to
disclose key management personnel compensation. It has also taken advantage of the exemption under Section 33.1A not to disclose related party transactions between the company and its parent company.
Going concern
The financial statements have been prepared on a going concern basis.
Page 12 |
Energyfarm UK GL II Ltd
Notes to the Financial Statements for the Period from 8 July 2019 to 31 December 2020
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements. |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 13 |
Energyfarm UK GL II Ltd
Notes to the Financial Statements for the Period from 8 July 2019 to 31 December 2020
Joint ventures
Investments the capital of in jointly controlled entities incorporated as limited liability partnerships are treated as fixed asset investments.
Shares of profits or losses of those partnerships are recognised as other operating income or expenses. Current accounts in the partnerships are included in debtors or creditors
Other operating income |
The analysis of the company's other operating income for the period is as follows:
2020 |
|
Share of profits/(losses) in joint ventures |
( |
Staff costs |
The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:
2020 |
|
Administration and support |
|
|
Auditors' remuneration |
The auditor’s remuneration has been borne by another group company. The company’s auditor received £nil for the provision of non-audit services.
Investments |
2020 |
|
Investments in joint ventures |
|
Page 14 |
Energyfarm UK GL II Ltd
Notes to the Financial Statements for the Period from 8 July 2019 to 31 December 2020
Joint ventures |
£ |
Cost |
|
Additions |
|
Carrying amount |
|
At 31 December 2020 |
|
Debtors |
Note |
2020 |
|
Amounts owed by related parties |
|
|
|
Creditors |
Note |
2020 |
|
Due within one year |
||
Amounts due to related parties |
|
Share capital |
Allotted, called up and fully paid shares
2020 |
||
No. |
£ |
|
|
|
1 |
Page 15 |
Energyfarm UK GL II Ltd
Notes to the Financial Statements for the Period from 8 July 2019 to 31 December 2020
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
Page 16 |