OBJECTIVE To complete the fund raising for a community hydro
scheme at Harlaw Reservoir and make it happen.
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Agenda Whats happened since June Our Finances Your Finances
Provisional Schedule Questions Wine, juice and nibbles
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Whats happened since June Expanded team 5 members with
substantial engineering and project experience Technical team
meeting fortnightly Meetings with CEC Flood Prevention / Panel
Engineer Grid Connection offered and accepted Hydrology re-analysed
VAT Registration Design Contract Awarded Pipe Liner Repaired
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Design Contract Awarded 5 Designers Approached 3 Quotations
Received Potential Designers Met the committee Unanimous 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
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Another idyllic country scene or potential for another hydro
scheme?
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The Finances
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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 or it has
spent at least 70 per cent of the monies raised by the relevant
issue of shares If 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.
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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.
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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 form If 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.
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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.
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Who are our investors? 241 investors in total: Average size of
investment - 1,588 Investments range from 250 to 10,000 Most Common
- 500 or 1000 Just over half from immediate Balerno area 17% from
surrounding area 17% from wider Edinburgh Area 14% anywhere
else
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Where we Live Shareholders / Society Members
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What next? Apply to pre-accredit FiT (Feed in Tariff) for 67kw
Design accepted by CECs Panel Engineer Order Turbine / generator
December 2013 Lease Formalised Select contractor January 2014
Submit SEIS1 Spring 2014 Start Build Spring 2014 1 st AGM May/June
2014 Generate Electricity Autumn 2014