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REGISTERED NUMBER: 09940404 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024

FOR

BLACKMEAD ROOFTOP 1 LIMITED

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLACKMEAD ROOFTOP 1 LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024







DIRECTORS: M Shah
Thames Street Services Limited





REGISTERED OFFICE: 10 Lower Thames Street
London
EC3R 6AF





REGISTERED NUMBER: 09940404 (England and Wales)






BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

BALANCE SHEET
30 SEPTEMBER 2024

30/9/24 31/3/24
Notes £ £
FIXED ASSETS
Investments 4 25,837,418 25,837,418

CURRENT ASSETS
Debtors 5 16,828 33,060
Cash at bank 2,658,446 1,924,736
2,675,274 1,957,796
CREDITORS
Amounts falling due within one year 6 (1,199,950 ) (2,829,978 )
NET CURRENT ASSETS/(LIABILITIES) 1,475,324 (872,182 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,312,742

24,965,236

CREDITORS
Amounts falling due after more than one
year

7

(34,324,816

)

(31,250,803

)
NET LIABILITIES (7,012,074 ) (6,285,567 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (7,012,075 ) (6,285,568 )
SHAREHOLDERS' FUNDS (7,012,074 ) (6,285,567 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 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.

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 18 March 2025 and were signed on its behalf by:





Thames Street Services Limited - Director


BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Blackmead Rooftop 1 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an on-going basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, when,
and if, better information is obtained.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included below. Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial
statements relates to the following:

Going concern
The directors have adopted the going concern basis in preparing the financial statements. In assessing whether the going concern assumption is appropriate, the directors have taken into account all relevant information about the future.

The directors have prepared forecasts based on models covering 13 years and reviewed capital requirements and debt covenants for twelve months from the date of approving these financial statements. The directors are comfortable that the group can continue to trade for at least 12 months. The directors have assessed that the group is not likely to breach any debt covenants based on the forecasting performed.

Turnover
Turnover is represented by management fees charged to subsidiaries. These are recognised on an accruals basis.

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Income Statement.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the period 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 period 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.

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Reporting period length
These financial statements cover the period from 01/04/2024 to 30/09/2024. The previous financial statements covered the 12 months to 31/03/2024, therefore, the comparatives are not entirely comparable.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Provisions for liabilities
Provisions are recognised when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be estimated reliably measured.

Cash and cash equivalents
Cash is represented by deposits with financial intuitions repayable without penalty on notice of more than 24 hours, Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors and creditors
Short-term debtors are measured at transaction price, less any impairment.

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2024
and 30 September 2024 25,837,418
NET BOOK VALUE
At 30 September 2024 25,837,418
At 31 March 2024 25,837,418

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024


4. FIXED ASSET INVESTMENTS - continued

Direct subsidiary undertakings

The following were direct subsidiary undertaking of the Company:


Name
Registered
Office

Principal activity
Class of
share

Holding
Barnfield Energy Limited England Electricity generation Ordinary 100%
Boyd Energy Limited England Electricity generation Ordinary 100%
Browning Power Limited England Electricity generation Ordinary 100%
Greshdown Energy
Limited

England

Electricity generation

Ordinary

100%
Flintly Power Limited England Electricity generation Ordinary 100%
Pepys Power Limited England Electricity generation Ordinary 100%
Sampton Energy Limited England Electricity generation Ordinary 100%
Shawley Energy Limited England Electricity generation Ordinary 100%
Tellington Power Limited England Electricity generation Ordinary 100%

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 31/3/24
£ £
Amounts owed by group undertakings - 570
Other debtors 1 1
Prepayments 16,827 32,489
16,828 33,060

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 31/3/24
£ £
Bank loans < 1 year 503,326 840,243
Trade creditors - 13,781
Other creditors 495,794 1,798,616
VAT creditor 156,049 177,338
Accruals and deferred income 44,781 -
1,199,950 2,829,978

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 31/3/24
£ £
Bank loans > 5 years 6,066,814 6,155,294
Amounts owed to group undertakings 25,888,512 22,760,509
Bank loans 1 - 5 years 2,369,490 2,335,000
34,324,816 31,250,803

BLACKMEAD ROOFTOP 1 LIMITED (REGISTERED NUMBER: 09940404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30/9/24 31/3/24
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 6,066,814 6,155,294

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 31/3/24
value: £ £
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£

At 1 April 2024 (6,285,568 )
Deficit for the period (726,507 )
At 30 September 2024 (7,012,075 )

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The Company's ultimate parent and controlling entity is Bagnall Energy Limited, a company incorporated in England and Wales. The financial statements of Bagnall Energy Limited, can be obtained from that company's registered office: 10 Lower Thames Street, London, England, EC3R 6AF.