RHYL FLATS WIND FARM LIMITED

Company number

05485961

Status

Active

Incorporation

2005-06-21

Last accounts made up

2024-12-31

Account category

FULL

Primary SIC

35110

Hubs

UK Energy & Climate

Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The going concern basis is considered to be appropriate by the directors as the company is in a net current asset position and financial obligations are forecast to be covered by operational cash flows. On this basis, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from date of signing. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.”

Significant events

• “Revenue has decreased by 9.77% from prior year. This decrease is due to reduced power prices and also a reduction in generation. The company generated 263.33 GWh of electricity in 2024 (2023: 275.24 GWh). The decrease in profit is primarily driven by the lower revenue in 2024.”
• “The reduction in net assets is driven by the payment of dividends.”
• “The directors have approved dividends of £22,900k having taken into consideration the interest of the company's members as laid out in the shareholders' agreement, the future funding requirements of the business, and the latest forecast revenue and operating costs.”
• “A share premium reduction was approved on the 4th December 2024, leading to the creation of retained earnings.”
• “A restatement has been made in relation to the recognition of the fixed element of the seabed lease. The fixed element of the contract was incorrectly recognised over a 12 month period rather than the 6 month period per the contract, leading to the lease liability being understated.”
• “During the year, management identified a vessel contract which originated in previous periods. This lease met the conditions to be capitalised under IFRS 16. As a result, the 2023 comparatives have been restated to reflect the capitalisation of these leases in the correct period.”
• “During the current year, the company identified an omission in the measurement of the decommissioning provision as previously reported. Specifically, certain onshore costs were not included in the provision recognised previously. As a result, the comparative amounts have been restated to correct this error.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers