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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Profit and loss account |
8 |
Balance sheet |
9 |
Statement of changes in equity |
10 |
Notes to the financial statements |
11 |
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STRATEGIC REPORT |
2024 | 2023 | |||
£ | £ | |||
Turnover | 8,481,623 | 24,995,398 | ||
Gross profit margin | 33.3% | 23.5% | ||
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Director |
Registered office: |
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DIRECTORS' REPORT |
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Director |
Registered office: |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & Statutory Auditor |
2 Crossways Business Centre |
Bicester Road |
Kingswood |
Aylesbury |
Bucks |
HP18 0RA |
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PROFIT AND LOSS ACCOUNT |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
(
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(
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----------- |
------------ |
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Gross profit |
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Administrative expenses |
(
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(
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Gain/(loss) on disposal of shares in group undertakings |
12,949,981 |
– |
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------------ |
----------- |
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Operating profit |
5 |
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Income from participating interests |
9 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
(
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(
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------------ |
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Profit before taxation |
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Tax on profit |
12 |
(
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(
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------------ |
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Profit for the financial year and total comprehensive income |
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----------- |
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BALANCE SHEET |
2024 |
2023 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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Stocks |
16 |
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Debtors |
17 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
18 |
(
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(
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Net current assets |
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------------ |
----------- |
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Total assets less current liabilities |
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Taxation including deferred tax |
19 |
(
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(
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------------ |
----------- |
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Net assets |
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------------ |
----------- |
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Called up share capital |
22 |
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Profit and loss account |
23 |
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------------ |
----------- |
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Shareholders funds |
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------------ |
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Director |
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STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 May 2022 |
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Profit for the year |
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---- |
----------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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(
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---- |
----------- |
----------- |
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Total investments by and distributions to owners |
– |
(
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(
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At 30 April 2023 |
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Profit for the year |
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---- |
------------ |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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(
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---- |
----------- |
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Total investments by and distributions to owners |
– |
(
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(
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---- |
------------ |
------------ |
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At 30 April 2024 |
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NOTES TO THE FINANCIAL STATEMENTS |
Freehold property |
- |
10% Straight line basis
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Fixtures, fittings and equipment |
- |
10 - 25% Straight line basis
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Motor vehicles |
- |
25% Straight line basis
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2024 |
2023 |
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£ |
£ |
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Rendering of services |
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Construction contracts |
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----------- |
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----------- |
------------ |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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Foreign exchange differences |
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(
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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------- |
------- |
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2024 |
2023 |
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No. |
No. |
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Production staff |
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Management staff |
2 |
2 |
---- |
---- |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Wages and salaries |
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Social security costs |
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Other pension costs |
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----------- |
----------- |
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----------- |
----------- |
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2024 |
2023 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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------ |
------ |
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------ |
------ |
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2024 |
2023 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Dividends from participating interests |
1,873,464 |
318,279 |
----------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Interest on loans and receivables |
48,421 |
34,228 |
Interest on cash and cash equivalents |
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– |
-------- |
------- |
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-------- |
------- |
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2024 |
2023 |
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£ |
£ |
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Other interest payable and similar charges |
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---- |
------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
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Adjustments in respect of prior periods |
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– |
-------- |
-------- |
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Total current tax |
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-------- |
-------- |
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Origination and reversal of timing differences |
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-------- |
-------- |
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Tax on profit |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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------------ |
----------- |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
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– |
Effect of expenses not deductible for tax purposes |
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Effect of revenue exempt from tax |
(
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(
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Utilisation of tax losses |
– |
(
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Investment in tax credit |
– |
(4,600)
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Adjustment to closing deferred tax to average tax rate |
– |
7,161
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Adjustments in respect of prior periods - deferred tax |
(451)
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(1,937)
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------------ |
----------- |
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Tax on profit |
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------------ |
----------- |
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2024 |
2023 |
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£ |
£ |
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Dividends paid on ordinary shares |
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----------- |
----------- |
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Freehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 May 2023 |
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– |
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Additions |
– |
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– |
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Disposals |
– |
– |
(
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(
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Transfers |
(145,427)
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145,427
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– |
– |
----------- |
-------- |
------- |
----------- |
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At 30 April 2024 |
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– |
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----------- |
-------- |
------- |
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Depreciation |
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At 1 May 2023 |
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– |
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Charge for the year |
– |
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– |
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Disposals |
– |
– |
(
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(
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Transfers |
(7,858)
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7,858 |
– |
– |
----------- |
-------- |
------- |
----------- |
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At 30 April 2024 |
– |
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– |
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----------- |
-------- |
------- |
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Carrying amount |
||||
At 30 April 2024 |
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– |
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----------- |
-------- |
------- |
----------- |
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At 30 April 2023 |
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– |
– |
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----------- |
-------- |
------- |
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Shares in group undertakings |
Shares in joint ventures |
Total |
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£ |
£ |
£ |
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Cost |
|||
At 1 May 2023 |
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Additions |
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Disposals |
(
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– |
(
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-------- |
---- |
-------- |
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At 30 April 2024 |
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-------- |
---- |
-------- |
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Impairment |
|||
At 1 May 2023 and 30 April 2024 |
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– |
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-------- |
---- |
-------- |
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Carrying amount |
|||
At 30 April 2024 |
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-------- |
---- |
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At 30 April 2023 |
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Name of company | Country of incorporation | Class of share | Percentage of shares held | ||
One Earth 740 SPV Ltd | England and Wales | Ordinary | 80.6% | ||
Blue Planet Solar Ltd | England and Wales | Ordinary | 100% | ||
Carbon Free 2030 Energy Ltd | England and Wales | Ordinary | 100% | ||
Clean Air Renewables Ltd | England and Wales | Ordinary | 100% | ||
Clean Planet Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Green Energy Storage 140 Ltd | England and Wales | Ordinary | 100% | ||
Green Hydrogen Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
One Planet Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
PS-Gander-Down Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
The Clean Future Renewables Ltd | England and Wales | Ordinary | 100% | ||
WSE Afon Llan Ltd | England and Wales | Ordinary | 100% | ||
WSE Cox's Brook Ltd | England and Wales | Ordinary | 100% | ||
A Perfect Planet Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Hamer Warren Bess Ltd | England and Wales | Ordinary | 100% | ||
Living Energy SPV 99 Ltd | England and Wales | Ordinary | 100% | ||
Simple Energy SPV 100 Ltd | England and Wales | Ordinary | 100% | ||
PS-Level-Up Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
PS-Clean-Air Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Protect Our Planet Energy Ltd | England and Wales | Ordinary | 100% | ||
Pure Life Energy SPV Ltd | England and Wales | Ordinary | 100% | ||
Save Our Planet Energy Ltd | England and Wales | Ordinary | 100% | ||
Crockwell Hill Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Church Lane Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Lady Wood Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Mawkin Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Skye Green Solar Farm Ltd | England and Wales | Ordinary | 100% | ||
Jigg FM UK Ltd | England and Wales | Ordinary | 60% | ||
Tranquility Energy Ltd | England and Wales | Ordinary | 80.6% | ||
One Earth Solar Farm Ltd | England and Wales | Ordinary | 80.6% | ||
Sunnica Ltd | England and Wales | Ordinary | 30.6% | ||
Sunnica Farm Ltd | England and Wales | Ordinary | 30.6% | ||
Sunnica Energy Farm Ltd | England and Wales | Ordinary | 30.6% | ||
Sunnica Energy Ltd | England and Wales | Ordinary | 30.6% | ||
Rosefield Energyfarm Ltd | England and Wales | Ordinary | 49% | ||
PSH Holdings Ltd | England and Wales | Ordinary | 51% | ||
PACE PSR Renewable Energy Hold Co Ltd | England and Wales | Ordinary | 50% | ||
PACE Angus Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Astral Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Brigadier Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Koyoto Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Lilac Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Maia Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Nighthawk Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Olive Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Pickle Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Quantum Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Rex Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Rudder Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Strike Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Tribute Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Underhill Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Vanish Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Warrior Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Wedge Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Xtreme Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Yoyo Energy Ltd | England and Wales | Ordinary | 50% | ||
PACE Zulu Energy Ltd | England and Wales | Ordinary | 50% | ||
2024 |
2023 |
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£ |
£ |
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Work in progress |
|
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------------ |
-------- |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
|
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Amounts owed by group undertakings |
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Amounts owed by undertakings in which the company has a participating interest |
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Called up share capital not paid |
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Prepayments and accrued income |
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Other debtors |
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----------- |
------------ |
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----------- |
------------ |
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to undertakings in which the company has a participating interest |
|
– |
Accruals and deferred income |
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Corporation tax |
|
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Social security and other taxes |
– |
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Amounts owed to other related entities |
1,594,144 |
6,255,985 |
Other creditors |
|
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----------- |
------------ |
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----------- |
------------ |
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Deferred tax (note 20) |
|
£ |
|
At 1 May 2023 |
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Additions |
|
------- |
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At 30 April 2024 |
|
------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 19) |
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------- |
------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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------- |
------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
---- |
---- |
---- |
---- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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– |
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– |
---- |
---- |
---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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------- |
------- |
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------- |
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2024 | 2023 | |
£ | £ | |
Sales to entities over which the entity has control, joint control or significant influence | 358,418 | 4,365 |
Purchases from entities over which the entity has control, joint control or significant influence | 100,677 | 571 |
Interest receivable from entities over which the entity has control, joint control or significant influence | 48,326 | – |
Amounts due from entities over which the entity has control, joint control or significant influence | 2,474,613 | 1,616,783 |
Amounts due to entities over which the entity has control, joint control or significant influence | 721 | 120,572 |
Amounts due to entities with control, joint control or significant influence over the entity | 4,231,174 | 2,925,290 |
Sales to other related parties | 7,009,958 | – |
Purchases from other related parties | 643,578 | – |
Management fees from other related parties | 108,000 | – |
Assets purchased from other related parties | – | 950,000 |
Amounts due from other related parties | 1,252,224 | 567,903 |
Amounts due to other related parties | 151,206 | 6,255,985 |
Management fees from entities that provide key management personnel services | 72,000 | – |
Amounts due to key management personnel | 1,442,938 | – |