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SOLARGISE LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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REGISTERED NUMBER:
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SOLARGISE LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SOLARGISE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
135/137, Station Road, |
Chingford, |
London |
E4 6AG |
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BANKERS: |
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1 Moorgate, |
London |
EC2R 6JH |
SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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BALANCE SHEET |
30TH SEPTEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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BALANCE SHEET - continued |
30TH SEPTEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Solargise Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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3. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1st October 2017 |
and 30th September 2018 |
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DEPRECIATION |
At 1st October 2017 |
and 30th September 2018 |
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NET BOOK VALUE |
At 30th September 2018 |
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At 30th September 2017 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1st October 2017 |
and 30th September 2018 |
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NET BOOK VALUE |
At 30th September 2018 |
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At 30th September 2017 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves |
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Loss for the year | ( |
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The Ordinary Shares are of 10/- Rupees each. The Preference Shares are 13% Cumulative Compulsorily |
Convertible Preference Shares of 10/- Rupees each. |
SOLARGISE LIMITED (REGISTERED NUMBER: 07832571) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
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4. | FIXED ASSET INVESTMENTS - continued |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves |
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Loss for the year | ( |
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Investments in subsidiary companies are shown at cost. The market value of the shares held in those companies |
is considerably in excess of the cost value but this excess has not as yet been quantified. Therefore no |
adjustment for any revaluation of the investments has been reflected within these accounts. |
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Solargise Limited, and its directors and nominees, own 100% of the Equity shares issued by Solargise India |
Private Limited. The parent company, Solargise UK Limited, owns all the Cumulative Convertible Preference |
Shares issued by Solargise India Private Limited |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans | 4,820,137 | 4,820,137 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
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Directors' current accounts | 283,577 | 283,577 |
Accrued expenses |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the sum owed to R. Basu (a director) by the company amounted to £283,577 (2017 - |
£283,577). This sum is included within creditors due within one year. |
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C.N. Phoenix is a director and majority shareholder in CPA Management Services. During the year under |
review this business lent the company a sum of £nil (2017 - £nil) in order to fund the Indian solar power projects. |
The total balance lent by CPA Management Services to the company as at the balance sheet date amounted to |
£1,975,300 (2017 - £1,975,300). These balances are shown within other loans as part of the creditors due within |
one year. |
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8. | RELATED PARTY DISCLOSURES |
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Solargise UK Limited is the ultimate parent company having ownership of 100% of the Issued Ordinary Share |
Capital in the company. |