The director presents his annual report and financial statements for the year ended 31 March 2024.
The Company’s principal activity is the development, funding, and installation of renewables, with a focus on solar PV with battery in UK domestic social housing and local authority buildings.
The Company was set up to develop an innovative solution creating VPPs (virtual power plants) with solar and battery storage to provide social housing tenants with significant savings of 20% or more on their bill for electricity usage. The property owner, the Social housing group, does not have to invest any of their limited funds on solar with battery. The scheme adapts with increased battery size when heat pumps are installed to help ensure heat pump once installed saves money for the Tenant compared to a gas boiler. The installation of solar along with our own bespoke large battery and Energy Management System allows us to improve electricity efficiency as well as participate into the National Grid balancing mechanism helping to protect the grid directly at the local level. In addition to the substantial financial savings for customers there will be a large improvement in the property EPC rating overnight which will assist the Social Housing Group with achieving their net zero compliance objectives. The “free” capital expenditure proposal is important for councils and social housing property owners as many don’t have the budgets or funds available themselves or from the central government to invest in substantial carbon reduction and renewables.
The Company has developed close relationships with significant well known global businesses to enable access to the latest technology including manufacturing supply, energy performance management and renewables installation capacity. This is in addition to the creation and development internally of certain own technology along with specialist business modelling to support the Company objectives.
The sole Director for the year to 31 March 2024 was Douglas McKinnon-Snell. No additional Directors have been appointed at this date. The invested capital for the year was £73,691, (2023 - £26,833) and the Director(s) do not recommend the payment of a dividend, as this is invested in process and know how to allow the company to grow and deliver and deploy at global scale.
The director and founding shareholders consider they have invested considerable time and expertise and Intellectual property and blue-chip relationships, which in the founder’s opinion equates to building a very significant intangible asset value that is yet to be realised in shareholder value.
For the year ending 31 March 2024 the Company was entitled to exemption under section 477 of the companies act 2006 relating to small companies.
The members have not required the Company to obtain an audit in accordance with section 476 of the companies act 2006.
The Director acknowledges his responsibility for complying with the companies act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to the Company subject to the small companies regime.
The director who held office during the year and up to the date of signature of the financial statements was as follows:
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
EBIS GB Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ.
The company was incorporated on 20 September 2022 and is preparing its first set of financial statements for the period to 31 March 2023.
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 £.
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.
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.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the director is 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was: