Progress Report – 20 th November 2013
description
Transcript of Progress Report – 20 th November 2013
![Page 1: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/1.jpg)
Progress Report – 20th November 2013
![Page 2: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/2.jpg)
OBJECTIVE
To complete the fund raising for
a community hydro scheme at
Harlaw Reservoir and
‘make it happen’.
![Page 3: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/3.jpg)
AgendaWhat‘s happened since JuneOur FinancesYour FinancesProvisional ScheduleQuestionsWine, juice and nibbles
![Page 4: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/4.jpg)
What‘s happened since JuneExpanded team
5 members with substantial engineering and project experienceTechnical team meeting fortnightly
Meetings with CEC Flood Prevention / Panel Engineer Grid Connection offered and acceptedHydrology re-analysedVAT RegistrationDesign Contract AwardedPipe Liner Repaired
![Page 5: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/5.jpg)
Design Contract Awarded5 Designers Approached3 Quotations ReceivedPotential Designers Met the committeeUnanimous selection of Adrian Laycock Limited
Extensive experience with micro-hydro schemes, dams, canals, irrigation . . Both in Scotland and across the World
http://www.adrianlaycock.com/index.htm
![Page 6: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/6.jpg)
![Page 7: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/7.jpg)
![Page 8: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/8.jpg)
![Page 9: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/9.jpg)
![Page 10: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/10.jpg)
![Page 11: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/11.jpg)
![Page 12: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/12.jpg)
![Page 13: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/13.jpg)
![Page 14: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/14.jpg)
![Page 15: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/15.jpg)
![Page 16: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/16.jpg)
Another idyllic country scene
– or – potential for
another hydro scheme?
![Page 17: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/17.jpg)
The FinancesIncome
Capital (5 July 2013) £334,750Interest to date £271
£335,021Expenditure
SPN - Grid Connection £18,835Mark Sproule (Website) £600Launch Expenses (BVT) £1,375FCA Annual Fee £55
£20,865
Balance £314,156
Commitments
Adrian Laycock Limited £19,200 50% on appointment of contractor, 50% when turbine is operational
![Page 18: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/18.jpg)
Seed Enterprise Investment Scheme (SEIS)Harlaw Hydro Limited
SEIS is administered by the Small Companies Enterprise Centre (SCEC) in HM Revenue & Customs (HMRC)
The company must submit form SEIS1 to the SCEC The company cannot submit an SEIS1 until either:
it has been trading for at least four months orit has spent at least 70 per cent of the monies raised by the
relevant issue of sharesIf the SCEC accepts that the company, its activities, and the
shares all meet the requirements of the scheme, it will issue the company with a certificate to that effect, and will supply claim forms (SEIS3s) for the company to send to the investors so they can claim tax relief
The company issues SEIS3s to qualifying Investors.
![Page 19: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/19.jpg)
Seed Enterprise Investment Scheme (SEIS)The Investor
Using the SEIS3 supplied by the company the investor claims on their Self Assessment tax return for the tax year in which the shares were issued (i.e. 2013/2014)
Investors can claim relief up to five years after the 31 January following the tax year in which the investment was made.
![Page 20: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/20.jpg)
Enterprise Investment Scheme (EIS)Harlaw Hydro Limited
EIS is administered by the Small Companies Enterprise Centre (SCEC) in HM Revenue & Customs (HMRC)
The company must submit form EIS1 to the SCEC The company cannot submit an EIS1 until it has been
trading for at least four months (confirmed using form EIS2).
The company then has 2 years to submit the formIf the SCEC accepts that the company, its activities, and
the shares all meet the requirements of the scheme, it will issue the company with a certificate to that effect, and will supply claim forms (EIS3s)
The company issues EIS3s to qualifying Investors.
![Page 21: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/21.jpg)
Enterprise Investment Scheme (EIS)The Investor
Using the EIS3 supplied by the company the investor claims on their Self Assessment tax return for the tax year in which the shares were issued (i.e. 2013/2014)
Investors can claim relief up to five years after the 31 January following the tax year in which the investment was made.
![Page 22: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/22.jpg)
Who are our investors?241 investors in total:Average size of investment - £1,588Investments range from £250 to £10,000Most Common - £500 or £1000 Just over half from immediate Balerno area17% from surrounding area17% from wider Edinburgh Area14% anywhere else
![Page 23: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/23.jpg)
Where we LiveShareholders / Society Members
52%
13%
4%
13%
17%
BalernoCurrieJuniper GreenEdinburghOther
![Page 24: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/24.jpg)
What next?Apply to pre-accredit FiT (Feed in Tariff) for 67kw Design accepted by CECs Panel EngineerOrder Turbine / generator – December 2013Lease FormalisedSelect contractor January 2014Submit SEIS1 Spring 2014Start Build – Spring 20141st AGM – May/June 2014 Generate Electricity – Autumn 2014
![Page 25: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/25.jpg)
![Page 26: Progress Report – 20 th November 2013](https://reader035.fdocuments.us/reader035/viewer/2022081514/56816122550346895dd07aa0/html5/thumbnails/26.jpg)
QuestionsWine and ‘nibbles’