Registered No. OC400775 (England and Wales)
Willand Biogas LLP
Unaudited accounts
for the year ended 30 September 2021
Willand Biogas LLP
LLP Information
for the year ended 30 September 2021
Designated members
GFLE Topco 11 Ltd
Privilege Investments Ltd
Registered Number
OC400775 (England and Wales)
Registered Office
Cleave Farm
Templeton
Tiverton
Devon
EX16 8ER
Accountants
EllamWalker Accountants Ltd
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
Willand Biogas LLP
Statement of financial position
as at
30 September 2021
Tangible assets
17,682,417
18,079,970
Inventories
225,958
225,958
Debtors
1,290,075
919,339
Cash at bank and in hand
3,042
5,139
Creditors: amounts falling due within one year
(36,042,178)
(30,499,177)
Net current liabilities
(34,523,103)
(29,348,741)
Total assets less current liabilities
(16,840,686)
(11,268,771)
Creditors: amounts falling due after more than one year
(7,580)
(25,526)
Net liabilities attributable to members
(16,848,266)
(11,294,297)
Other reserves
(16,848,266)
(11,294,297)
(16,848,266)
(11,294,297)
Members' other interests
(16,848,266)
(11,294,297)
(16,848,266)
(11,294,297)
For the year ending 30 September 2021 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 10 October 2022.
GFLE Topco 11 Ltd
Designated member
Limited Liability Partnership Registration No. OC400775
Willand Biogas LLP
Notes to the Accounts
for the year ended 30 September 2021
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operation existence for the foreseeable future. The LLP is reliant on the continued support of its members.
The members have prepared the financial statements on a going concern basis on the understanding that, although no guarantees are in place, they will continue to provide financial support if it is required. Accordingly, the financial statements do not include adjustments that would result if the support were not forthcoming.
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of electricity to customers.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% - 20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Willand Biogas LLP
Notes to the Accounts
for the year ended 30 September 2021
The LLP holds the following financial instruments:
- Short term debtors and creditors
- Other loans
- Cash and bank balances
All financial instruments are classified as basic.
Financial instruments are recognised when the LLP becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the LLP's obligations are discharged, expire or are cancelled.
Except for loans, such instruments are initially measured at transactions price, including transaction cost, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid ro received, after taking account of impairment adjustments.
Loans are initially measured at transactions price, including transactions costs, and are subsequently carried at amortised cost using the effective interest method.
Willand Biogas LLP is a limited liability partnership, incorporated in England and Wales, registration number OC400775. Its registered office is Cleave Farm, Templeton, Tiverton, Devon, EX16 8ER.
3
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 1 October 2020
20,277,258
At 30 September 2021
20,926,378
At 1 October 2020
2,197,288
Charge for the year
1,046,673
At 30 September 2021
3,243,961
At 30 September 2021
17,682,417
At 30 September 2020
18,079,970
Willand Biogas LLP
Notes to the Accounts
for the year ended 30 September 2021
4
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
20,082
20,082
Trade creditors
1,758,022
1,878,678
Other creditors
33,203,400
28,194,076
Accruals
1,060,674
406,341
Other Creditors of £33,202,819 (2020: £28,194,076) is a loan facility provided by Privilege Project Finance Limited. The security provided is as follows:
Guarantee by GFLE Topco 11 Limited.
Charge over all freehold and leasehold property.
Fixed and floating charge over the entity's assets.
5
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
7,580
25,526
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 0 (2020: 0).