Registration number:
Pant Y Maen Wind Limited
for the Year Ended 5 April 2017
Pant Y Maen Wind Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Pant Y Maen Wind Limited
(Registration number: 08819712)
Balance Sheet as at 5 April 2017
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2017 |
2016 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Total equity |
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For the financial year ending 5 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
E J Daniels
Director
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Pant Y Maen Wind Limited
Notes to the Financial Statements for the Year Ended 5 April 2017
General information |
The company is a private company limited by share capital incorporated in the United Kingdom.
The address of its registered office is:
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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - '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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Work in progress is valued at the lower of cost or net realisable value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
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Pant Y Maen Wind Limited
Notes to the Financial Statements for the Year Ended 5 April 2017
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Stocks |
2017 |
2016 |
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Work in progress |
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Debtors |
2017 |
2016 |
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Other debtors |
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Prepayments and accrued income |
2,073 |
2,093 |
Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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- |
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Accruals and deferred income |
2,898 |
2,737 |
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Due after one year |
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Loans and borrowings |
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Page 3 |
Pant Y Maen Wind Limited
Notes to the Financial Statements for the Year Ended 5 April 2017
Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Other borrowings |
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Related party transactions |
Summary of transactions with other related parties
During the year the company made the following related party transactions:
Wenn Townsend Chartered Accountants Limited
(a company connected with the director D J Pluck)
Amounts of £2,474 (2016: £2,750) were charged to the company during the period in respect of services provided. At the balance sheet date the amount due to Wenn Townsend Chartered Accountants Limited was £2,898 (2016: £2,737).
FIM Services Limited
(a company connected with the director E J Daniels)
Amounts of £10,000 (2016: £20,000) were charged to the company during the period in respect of services provided. At the balance sheet date the amount due to FIM Services Limited was £6,000 (2016: £nil).
Brenig Wind Holdings Limited
(the parent company)
During the year, the parent company advanced £50,000 (2016: £nil) to the company. At the balance sheet date the amount due to Brenig Wind Holdings Limited was £550,000 (2016: £500,000).
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
Transition to FRS 102 |
There were no significant adjustments resulting from the transition to FRS102 that impact upon the profit for the year ended 5 April 2016. Equity shareholder funds reported in these accounts as at 6 April 2015 and 5 April 2016 are as reported previously under UK GAAP.
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