Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Euan John Webster 15/05/2014 John Robert Webster 16/04/2014 Michaela Webster 01/05/2020 28 April 2025 The principal activity of the Company during the financial year is to generate electricity using renewable resources and to sell the electricity to the local residents and the national grid. SC475500 2024-04-30 SC475500 bus:Director1 2024-04-30 SC475500 bus:Director2 2024-04-30 SC475500 bus:Director3 2024-04-30 SC475500 2023-04-30 SC475500 core:CurrentFinancialInstruments 2024-04-30 SC475500 core:CurrentFinancialInstruments 2023-04-30 SC475500 core:Non-currentFinancialInstruments 2024-04-30 SC475500 core:Non-currentFinancialInstruments 2023-04-30 SC475500 core:ShareCapital 2024-04-30 SC475500 core:ShareCapital 2023-04-30 SC475500 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC475500 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC475500 core:LeaseholdImprovements 2023-04-30 SC475500 core:PlantMachinery 2023-04-30 SC475500 core:Vehicles 2023-04-30 SC475500 core:LeaseholdImprovements 2024-04-30 SC475500 core:PlantMachinery 2024-04-30 SC475500 core:Vehicles 2024-04-30 SC475500 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-04-30 SC475500 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 SC475500 2022-04-30 SC475500 bus:OrdinaryShareClass1 2024-04-30 SC475500 bus:OrdinaryShareClass2 2024-04-30 SC475500 2023-05-01 2024-04-30 SC475500 bus:FilletedAccounts 2023-05-01 2024-04-30 SC475500 bus:SmallEntities 2023-05-01 2024-04-30 SC475500 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC475500 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC475500 bus:Director1 2023-05-01 2024-04-30 SC475500 bus:Director2 2023-05-01 2024-04-30 SC475500 bus:Director3 2023-05-01 2024-04-30 SC475500 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-04-30 SC475500 core:PlantMachinery core:BottomRangeValue 2023-05-01 2024-04-30 SC475500 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 SC475500 core:Vehicles 2023-05-01 2024-04-30 SC475500 2022-05-01 2023-04-30 SC475500 core:LeaseholdImprovements 2023-05-01 2024-04-30 SC475500 core:PlantMachinery 2023-05-01 2024-04-30 SC475500 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 SC475500 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 SC475500 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC475500 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC475500 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 SC475500 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC475500 (Scotland)

WEBSTER ENERGY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

WEBSTER ENERGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

WEBSTER ENERGY LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
WEBSTER ENERGY LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,315,536 1,272,613
1,315,536 1,272,613
Current assets
Stocks 4 17,500 17,500
Debtors 5 673,551 633,846
Cash at bank and in hand 2,105 755
693,156 652,101
Creditors: amounts falling due within one year 6 ( 1,013,841) ( 999,220)
Net current liabilities (320,685) (347,119)
Total assets less current liabilities 994,851 925,494
Creditors: amounts falling due after more than one year 7 ( 262,098) ( 354,562)
Provision for liabilities 8 ( 217,216) ( 225,427)
Net assets 515,537 345,505
Capital and reserves
Called-up share capital 9 110 110
Profit and loss account 515,427 345,395
Total shareholders' funds 515,537 345,505

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Webster Energy Limited (registered number: SC475500) were approved and authorised for issue by the Board of Directors on 28 April 2025. They were signed on its behalf by:

John Robert Webster
Director
WEBSTER ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
WEBSTER ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Webster Energy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Ardconnon, Oldmeldrum, Inverurie, AB51 0EW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The balance sheet shows net current liabilities of £320,685 (2023 - £347,119). The directors have confirmed that they are satisfied that the company will continue to trade and will be able to meet all current liabilities as they fall due.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for providing electricity and materials to generate electricity net of VAT and trade discounts where applicable. Turnover is recognised on an accruals basis in the period in which the supply was made.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 50 years straight line
Plant and machinery 3 - 20 years straight line
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 May 2023 284,949 1,483,759 33,830 1,802,538
Additions 0 3,973 137,730 141,703
Disposals 0 ( 1,782) 0 ( 1,782)
At 30 April 2024 284,949 1,485,950 171,560 1,942,459
Accumulated depreciation
At 01 May 2023 32,522 473,170 24,233 529,925
Charge for the financial year 5,699 78,993 13,685 98,377
Disposals 0 ( 1,379) 0 ( 1,379)
At 30 April 2024 38,221 550,784 37,918 626,923
Net book value
At 30 April 2024 246,728 935,166 133,642 1,315,536
At 30 April 2023 252,427 1,010,589 9,597 1,272,613

4. Stocks

2024 2023
£ £
Stocks 17,500 17,500

5. Debtors

2024 2023
£ £
Trade debtors 149,304 163,079
Other debtors 524,247 470,767
673,551 633,846

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 48,778 47,625
Amounts owed to related parties 305,040 132,758
Taxation and social security 214,039 207,167
Obligations under finance leases and hire purchase contracts 17,154 0
Other creditors 428,830 611,670
1,013,841 999,220

Included in other creditors are amounts due under loan agreements totalling £281,589 (2023 - £305,153), which are secured by a fixed charge over property owned by some of the directors.

Also included in other creditors are amounts totalling £10,000 (2023 - £10,000) which the government guarantees 100%.

Obligations under finance lease agreements and hire purchase contracts are secured by fixed charges over the asset to which they relate.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 130,544 0
Other creditors 131,554 354,562
262,098 354,562

Included in other creditors are amounts due under loan agreements totalling £119,887 (2023 - £332,895), which are secured by a fixed charge over property owned by some of the directors.

Also included in other creditors are amounts totalling £11,667 (2023 - £21,667) which the government guarantees 100%.

Obligations under finance lease agreements and hire purchase contracts are secured by fixed charges over the asset to which they relate.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 225,427) ( 231,570)
Credited to the Profit and Loss Account 8,211 6,143
At the end of financial year ( 217,216) ( 225,427)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ORDINARY shares of £ 1.00 each 100 100
10 ORDINARY A shares of £ 1.00 each 10 10
110 110

10. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 206,078 373,981

11. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Balance at year end due to Entities over which the directors have control 305,040 332,870

Transactions with the entity's directors

2024 2023
£ £
Amounts due from key management personnel 363,915 343,400
Amounts due to key management personnel (41,842) (11,986)

No interest is charged by the company on advances to directors and there are no fixed repayment terms. Within 9 months of the year-end, a further £15,242 has been advanced to directors and £85,081 has been repaid.