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REGISTERED NUMBER: 07425626 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Regenerco Renewable Energy Limited

Regenerco Renewable Energy Limited (Registered number: 07425626)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Regenerco Renewable Energy Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Armour
K W Yu





SECRETARY: M J Garrett





REGISTERED OFFICE: 3 - 5 College Street
Nottingham
Nottinghamshire
NG1 5AQ





REGISTERED NUMBER: 07425626 (England and Wales)

Regenerco Renewable Energy Limited (Registered number: 07425626)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,785,978 2,983,306

CURRENT ASSETS
Debtors 6 956,595 194,530
Cash at bank and in hand 534,358 1,131,699
1,490,953 1,326,229
CREDITORS
Amounts falling due within one year 7 1,339,284 1,335,025
NET CURRENT ASSETS/(LIABILITIES) 151,669 (8,796 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,937,647

2,974,510

CREDITORS
Amounts falling due after more than one
year

8

3,523,413

3,616,364
NET LIABILITIES (585,766 ) (641,854 )

CAPITAL AND RESERVES
Called up share capital 11 3,155 3,155
Share premium 115 115
Capital redemption reserve 1,577 1,577
Retained earnings (590,613 ) (646,701 )
SHAREHOLDERS' FUNDS (585,766 ) (641,854 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Regenerco Renewable Energy Limited (Registered number: 07425626)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





K W Yu - Director


Regenerco Renewable Energy Limited (Registered number: 07425626)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Regenerco Renewable Energy Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company operates across a number of sites and does not have one singular place of business.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There are no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover for the period represents sales of electricity and Feed in Tariffs net of any applicable Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 4% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
At the year end, the company has net liabilities of £585,766 (2022: £641,854). The company is expected to continue to trade profitably before depreciation and amortisation of the loan stock discount and the directors have reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months following the approval of these financial statements, as a result of the continued financial support of its loan stock holders. Therefore the financial statements have been prepared on the going concern basis.

Directors remuneration
The directors are remunerated below the market value for the work they complete.

Regenerco Renewable Energy Limited (Registered number: 07425626)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
equipment
£   
COST
At 1 January 2023
and 31 December 2023 4,933,053
DEPRECIATION
At 1 January 2023 1,949,747
Charge for year 197,328
At 31 December 2023 2,147,075
NET BOOK VALUE
At 31 December 2023 2,785,978
At 31 December 2022 2,983,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,057 11,661
Other debtors 769,429 -
VAT 4,257 4,113
Prepayments and accrued income 178,852 178,756
956,595 194,530

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34,353 57,684
Other creditors - 12,652
Accrued interest and expenses 1,304,931 1,264,689
1,339,284 1,335,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan stock 3,523,413 3,616,364

Regenerco Renewable Energy Limited (Registered number: 07425626)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Loan stock has been issued by the company as follows:

Issue datePrincipalIssue price

January 2011£476,000£318,920
March 2011£782,000£523,940
September 2011£1,522,000£1,019,740
December 2011£1,000,000£670,000
March 2012£1,000,000£670,000
February 2015 £270,000 £270,000
£5,050,000£3,472,600
£4,780,000 loan stock has a 25 year term and is repayable in monthly instalments after the fifth anniversary of issue. The discount to the issue price is being amortised over the life of the loan stock. The cumulative amortisation at 31 December 2022 was £772,009 (2022 - £708,913). £270,000 loan stock is redeemable on 31 December 2037. The loan stock is secured on the assets of the company.

In the year £156,047 (2022 - £142,381) of principal was paid by the company.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 20,000 20,000
Between one and five years 80,000 80,000
In more than five years 148,333 168,333
248,333 268,333

Residential properties rental are variable based on generation.

10. SECURED DEBTS

The company has fixed and floating charges on all of its assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
157,746 Ordinary 1p 1,578 1,578
157,746 Ordinary A 1p 1,577 1,577
3,155 3,155

12. RELATED PARTY DISCLOSURES

The loan stock of £5,050,000 referred to in note 10 was issued to certain shareholders of the company. Interest payable on the loan stock during the period amounted to £403,557 (2022 £417,223), Loan interest of £1,233,565 (2022: £1,197,445) was accrued at the balance sheet date. During the current and preceding period the company recognised subscription discounts of £63,096.

Regenerco Renewable Energy Limited (Registered number: 07425626)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Armour by virtue of his shareholdings.