The directors present the strategic report for the year ended 31 March 2024.
During the financial period under review the Company registered a profit before tax of £443,309 (2023: £9,498,299), the reduction is due to a general decline in European energy consumption and the one-off extension of the EUA Compliance Window, which have both contributed to lower profits in the energy risk management group.
During the year, the company's parent made a capital injection of £6m to improve the company's liquidity position.
The results are considered satisfactory by the directors who expect continued profitability in the foreseeable future.
Key performance indicators
FY2024 FY2023
Gross profit | 23,701,232 | 29,712,268 |
Operating profit | 1,556,690 | 9,498,299 |
Profit before tax | 443,309 | 9,498,299 |
Net assets
| 11,913,596 | 5,594,084 |
CFP Energy (UK) Ltd does not rely on any non-financial KPIs. |
|
Analysis of development and performance
The company has a strong balance sheet with growing net assets of £11.9m (2023: £5.6m) and views its expanding local presence, superior client service and extensive expertise pivotal to its continued growth and success.
Liquidity risk
This is the risk of the company failing to meet its financial obligations as a result of insufficient cash being available. This risk comes from unexpected cash outflows or expected inflows that may not materialise.
The company monitors its cash position regularly and employs forecasting to ensure it has sufficient cash to meet its operational requirements.
Group risk
Group risk is the risk that the financial position of the company may be adversely impacted by its relationships with other entities in the Group or by risks that may affect the financial position ofthe whole group. As a member of the group, the company faces the risk that decisions made by the group,or circumstances impacting the group, may either directly or indirectly impact the company. These could include strategic mergers or acquisitions, financial distress, reputational matters or decisions regarding the provision of services made by the company to the group..
Group risk is mitigated by the company's senior management being represented in the group's decision-making body, and by the company having documented contractual arrangements for services with group companies.
Credit risk
In the course of the company's business, trade and other receivables, and other financial assets at amortised cost are exposed to the credit risk of its counterparties, which primarily are group companies.
Given that the company's trade receivables are intercompany receivables from group companies, the credit risk is considered low given the group's financial position and liquidity.
Corporate Social and Environmental Responsibility
The Company is part of a group headed by CFP Energy Group Ltd and as such the following statements represent those of the Group as a whole.
The Group has been providing environmental solutions to its customers for over 17 years. The Group has invested in emission reduction projects and products with far-reaching social and economic impacts worldwide, which operates in accordance with UN Sustainable Development Goals (“SDG”s). Since 2019, the Group has engaged in emissions accounting conducted by an independent third party and has achieved net-zero status for scope 1 and 2 emissions.
The Companies (Miscellaneous Reporting) Regulations 2018 ('2018 MRR') require Directors to explain how they considered the interests of key stakeholders and the broader matters set out in section 172(1) (A) to (F) of the Companies Act 2006 ('S172') when performing their duty to promote the Company’s success under S172. This S172 statement explains how the Directors:
engaged with employees, suppliers, customers and others; and
took into account its employees’ interests, the need to foster the Company's business relationships with suppliers, customers and others, and the effect of such consideration, including its impact on the principal decisions made by the Company during the financial year.
When making decisions, each Director ensures that they act in a manner they deem to be, in good faith, and would most likely promote the Company's success for the benefit of its members as a whole, taking into account, among other matters:
S1720) (A) "The likely consequences of any decision in the long term"
Our mission is to help our customers transition to a sustainable future. At the heart of our decisions and product offerings lies the realisation of the fundamental role we play in securing a viable low-carbon future.
The Group consistently strives to improve sustainability management performance and drive impact. In 2023, the Group was awarded the Ecovadis Silver and Bronze sustainability medals as a result of its commitment to sustainability.
S1720) (B) "The interests of the company's employees"
The Group is committed to creating an environment that will attract, retain and motivate the best talent.
The leadership team recognises that their employees are fundamental and core to their business, and the delivery of their ambitions. We are a responsible and inclusive employer, committed to providing a workplace that values difference, where all employees and applicants are entitled to equal employment opportunities within the Group.
The Group adopts responsible and inclusive employment practices during recruitment, hiring, training, and compensation of employees, ensuring equal opportunities for all employees and applicants, irrespective of any protected characteristics recognised by statute.
The leadership team regularly updates employees of changes to the business and engages in open forum discussions about how business changes will impact their roles. There is a formalised process of appraisal and review to ensure colleagues feel secure and have opportunities to develop.
S172(1) (C) "The need to foster the Company's business relationships with suppliers, customers and others"
The Group maintains an open conversation and considers new ideas, processes and certifications.
The Group engages in continual dialogue by having thought provoking discussions with customers and industry leaders at conferences, addressing sustainability, risk management, net zero strategies and carbon markets. In 2023 we attended E-World, Argus Asia Carbon Conference and Carbon Forward 2023, among many other conferences, sharing our long-standing expertise.
S1720) (D) "The impact of the Company's operations on the community and the environment"
Since 2019, the Group has been carbon neutral for scope 2 emissions, with all our power for operations, heating and cooling coming from renewable sources. We have installed a battery for energy storage in our head office to replace the use of a traditional fossil fuel generator in case of a power outage. We invest in or develop carbon projects with specific SDGs which demonstrate social benefits, biodiversity, job opportunities, gender equality and water protection. These projects are created on behalf of our customers with specific ESG and SDG targets and commitments. Our strategy is to develop more projects to control and manage ESG impact. Furthermore, our participation in Ecovardis serves as a testament to our environmental commitment to our customers.
S172(1) (E) "The desirability of the Company maintaining a reputation for high standards of business conduct"
Throughout the Company’s growth, investments have been made in its employees, operational processes, and support systems. Regular training on financial compliance, anti-bribery and ethics are integral to maintaining the Company’s high standards of business conduct.
The Group boasts a leadership team with a wealth of experience in finance, structuring, risk, legal and regulatory affairs. This ensures that the Group upholds ethical standards and adhere to all relevant laws and regulations.
S172(1) (F) "The need to act fairly as between members of the Company"
The Group has a written diversity and inclusion policy statement in place and provides training on discrimination and diversity laws across all management levels. The Group’s efforts include raising awareness of institutional inequalities and biases, and fostering a culture which recognises the benefits of a diverse and inclusive workforce. Critical assessment of existing culture, recruitment processes, and ad-hoc initiatives, are in place to improve diversity and inclusion.
Section 172 – Stakeholder Engagement
In an increasingly volatile energy market, the board remains deeply committed to ensuring all stakeholders are supported. Our solutions are not just for today but innovate for the future. The board strongly believes that the Group will only prosper by working collaboratively with customers, governments, business partners, investors and other stakeholders to achieve a viable low-carbon future. Working together is critical for the future and stakeholder needs are at the heart of all our decision making.
This Strategic report is made by the directors in good faith based on the information available to them up to the time of their approval of this report. Such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information.
The directors, in preparing this Strategic report, have complied with s414C of the Companies Act 2006.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 March 2024.
The results for the year are set out on page 9.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The company's current policy concerning the payment of trade creditors is to:
settle the terms of payment with suppliers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
pay in accordance with the company's contractual and other legal obligations.
There are no matters to report.
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.
We have audited the financial statements of CFP Energy (UK) Ltd. (the 'company') for the year ended 31 March 2024 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 Reduced Disclosure Framework (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the financial services sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Financial Conduct Authority (FCA), Companies Act 2006, taxation legislation, anti-bribery, and anti-money-laundering legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
understanding the design of the company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates as set out in note 2 were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC, relevant regulators including the FCA and reviewing the company’s compliance monitoring procedures and findings.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s member, those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s member, for our audit work, for this report, or for the opinions we have formed.
CFP Energy (UK) Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 245 Hammersmith Road, London, United Kingdom, W6 8PW. The company's principal activities and nature of its operations are disclosed in the directors' report.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:
inclusion of an explicit and unreserved statement of compliance with IFRS;
presentation of a statement of cash flows and related notes;
disclosure of the objectives, policies and processes for managing capital;
disclosure of key management personnel compensation;
disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;
the effect of financial instruments on the statement of comprehensive income;
disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;
comparative narrative information and;
related party disclosures for transactions with the parent or wholly owned members of the group.
Where required, equivalent disclosures are given in the group accounts of CFP Energy Group Ltd. The group accounts of CFP Energy Group Ltd are available to the public and can be obtained as set out in note 21.
Revenue is derived from group companies for the provision of administrative and advisory services in accordance with the contractual cost plus pricing agreements.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.
The company considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that financial assets that meet either of the following criteria are generally not recoverable:
• When there is a breach of financial covenants by the debtor
• Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including companies in the group in full.
The company writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over one year past due, whichever occurs sooner. Any recoveries made are recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.
Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.
Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The tax expense represents the sum of the tax currently payable and deferred tax.
At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.
The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other property, plant and equipment. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.
The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.
The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in: future lease payments arising from a change in an index or rate; the company's estimate of the amount expected to be payable under a residual value guarantee; or the company's assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.
Any contract entered into, which contains an identified asset, whose use the company has the right to direct throughout the period of the lease, and the right to obtain substantially all the economic benefits from, is accounted for as a lease.
At the lease commencement date, the company recognises a right-of-use asset and a lease liability on the statement of financial position. The lease liability is measured at the present value of the total lease payments due, discounted using the interest rate implicit in the lease if readily available, or at the company's incremental borrowing rate. The right-of-use asset is measured at cost, being the lease liability, plus any initial direct costs incurred by the company, or lease payments made in advance of the commencement date.
Right-of-use assets are depreciated on a straight-line basis to the end of the lease term. The company assesses the right-of-use asset for impairment when such indicators exist. Lease liabilities are remeasured to reflect any reassessment or modification of the lease - when the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use leased asset, or in the statement of comprehensive income if the asset is already reduced to zero.
The lease term is the non-cancellable period of the lease together with periods covered by an option to extend the lease where the company is reasonably certain to exercise that option and periods covered by an option to terminate the lease where the company is reasonably certain not to exercise that option. The company accounts for leases with a lease term of less than 12 months as short term leases.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.
The average monthly number of persons (including directors) employed by the company during the year was:
Their aggregate remuneration comprised:
The calculation of the deferred tax balance takes into account the increase in the UK’s main corporation tax rate to 25%, effective from 1 April 2023. Changes to UK corporation tax rates were substantively enacted as part of the Finance bill 2021 on 24 May 2021. These include increases to the main rate from 19% to 25% on 1 April 2023. Deferred taxes at the period end have been measured using these enacted tax rates and reflected in these financial statements.
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Property, plant and equipment includes right-of-use assets, as follows:
The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.
Details of the company's associates at 31 March 2024 are as follows:
The company holds members capital in the above named limited liability partnerships. Under the LLPs deed of adherence the company does not have significant influence over the operating and financial policies of the entities. Accordingly, the investments are not classed as being that of a subsidiary or associate.
Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.
The deferred tax asset set out above is expected to reverse and relates to the utilisation of tax losses against future expected profits of the same trade.
During the year, the company's parent made a capital injection of £6m to improve the company's liquidity position.
The company has taken advantage of the exemptions provided by Section 8 of FRS 101 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transactions is wholly owned by a member of that group.
At the balance sheet date, the company was owed £3,618,767 (2023: was owed £4,669,506 by CFP Energy Group Ltd the ultimate parent company registered in England and Wales. The amounts are unsecured, interest free and repayable on demand.
At the balance sheet date, the company was owed £1,758,107 (2023: was owed £nil) by CFP Energy RMS Ltd, the Company’s immediate parent company, under common control of the ultimate parent company, registered in England and Wales. The amounts are unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £115,559 (2023: was owed £4,290,866) by CF Partners (UK) LLP, an entity, incorporated in England and Wales,under the common control of the directors. The amounts are unsecured, interest free and repayable on demand.
At the balance sheet the company owed CFP Energy Limited, a connected company, under common control of the parent company, incorporated and registered in Jersey, a total of £6,977,003 (2023: owed £8,194,472). The amount owed is unsecured, interest free and repayable on demand.
At the balance sheet the company owed CFP Energy (NL) BV, a connected company, under common control of the parent company, incorporated and registered in Netherlands, a total of £76,381 (2023: was owed £123,779). The amount owed is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £2,049,916 (2023: £3,213,764) by CF Commodities Limited, a connected company, under the control of the parent company, incorporated in Ireland The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company owed £13,777 (2023: £nil) by CF Energy (FR) SAS a connected company, under the control of the parent company, incorporated in France. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £145,600 (2023: £nil) by CFP Energy (ES) S.L. a connected company, under the control of the parent company, incorporated in Spain. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £78,092 (2023: £nil) by CFP Energy (IT) S.R.L a connected company, under the control of the parent company, incorporated in Italy. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £499,316 (2023: £nil) by Canopy Carbon Ltd a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £51,999 (2023: was owed £nil) by Define Energy GmbH a connected company, under the control of the parent company, incorporated in Switzerland. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £281,713 (2023: was owed £133,500) by CFP Labs Ltd a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £1,201,424 (2023: was owed £nil) by CFP Cyber Energia a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £4,324,195 (2023: was owed £3,763,420) by CFP Trading Limited, an entity incorporated and registered in Malta and under the control of the ultimate parent The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company owed £348,808 (2023: owed £8,646) to CFP Commodities MEA DMCC, an entity incorporated and registered in Dubai and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £2,274,381 (2023: was owed £745,266) by Cleantec Development APC, an entity incorporated and registered in Jersey and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company owed £695,752 (2023: £nil) by Cleantec Development PPC, an entity incorporated and registered in Jersey and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £49 (2023: owed £117,461) by HFCO Capital Management LLP, an entity incorporated in England and Wales and under the common control of the directors. The amount is unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £3,995,533 (2023: was owed £887,090) by Brook Green Supply Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.
At the balance sheet the company was owed £35,675 (2023: was owed £nil) by BGI Trading Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.