Company Registration No. SC351193 (Scotland)
BHP GENERATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
BHP GENERATION LIMITED
COMPANY INFORMATION
Directors
K Whittaker
J Whittaker
Secretary
Stronachs Secretaries Limited
Company number
SC351193
Registered office
28 Albyn Place
ABERDEEN
AB10 1YL
Accountants
Johnston Carmichael LLP
Bishop's Court
29 Albyn Place
Aberdeen
AB10 1YL
BHP GENERATION LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
BHP GENERATION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2019
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2019.
Principal activities
The company was dormant throughout the year.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
K Whittaker
J Whittaker
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
K Whittaker
Director
12 August 2020
BHP GENERATION LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BHP GENERATION LIMITED
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BHP Generation Limited for the year ended 31 December 2019 set out on pages 3 to 5 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of I
CAS
we are subject to its ethical and other professional requirements which are detailed at
:
https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-january-2017
.
This report is made solely to the Board of Directors of BHP Generation Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken in accordance with the requirements of
ICAS
as detailed at
:
https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-january-2017.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BHP Generation Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that BHP Generation Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and result
of BHP Generation Limited. You consider that BHP Generation Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of BHP Generation Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Johnston Carmichael LLP
12 August 2020
Chartered Accountants
Bishop's Court
29 Albyn Place
Aberdeen
AB10 1YL
BHP GENERATION LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 3 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
2
8,672
8,672
Creditors: amounts falling due within one year
3
(23,000)
(23,000)
Net current liabilities
(14,328)
(14,328)
Capital and reserves
Called up share capital
4
10,000
10,000
Profit and loss reserves
(24,328)
(24,328)
Total equity
(14,328)
(14,328)
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared 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 12 August 2020 and are signed on its behalf by:
K Whittaker
Director
Company Registration No. SC351193
BHP GENERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
1
Accounting policies
Company information
BHP Generation Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
28 Albyn Place, Aberdeen, AB10 1YL. The principal place of business is Upper Hindwells, Stonehaven, AB39 3UT.
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 as applicable to companies subject to the small companies regime. 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
In accordance with the transitional exemption in section 35 of FRS 102, BHP Generation Limited has elected to retain its accounting policies for reported assets, liabilities and equity before the date of transition to FRS 102.
1.2
Going concern
The company did not trade during the year. The company continues to be supported by its fellow subsidiary company Whittaker Engineering (Stonehaven) Limited. Whittaker Engineering (Stonehaven) Limited will not seek repayment of its loan to the detriment of other creditors.
true
1.3
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
BHP GENERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 5 -
Basic 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
payments
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
.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
8,672
8,672
3
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
23,000
23,000
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000