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Registered number: 13127208
Terra Firma (Droitwich) Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Valentis (UK) Ltd
ACCA
6-8 Great Eastern Street
London
EC2A 3NT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13127208
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 114,389 -
Investments 5 408,328 -
522,717 -
CURRENT ASSETS
Debtors 6 2,379,837 -
Cash at bank and in hand 15 100
2,379,852 100
Creditors: Amounts Falling Due Within One Year 7 (83,423 ) (15,727 )
NET CURRENT ASSETS (LIABILITIES) 2,296,429 (15,627 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,819,146 (15,627 )
Creditors: Amounts Falling Due After More Than One Year 8 (2,905,822 ) -
NET LIABILITIES (86,676 ) (15,627 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (86,776 ) (15,727 )
SHAREHOLDERS' FUNDS (86,676) (15,627)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Meakin
Director
12/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Terra Firma (Droitwich) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13127208 . The registered office is C/O Aticus Law Solicitors Queens Chambers, 5 John Dalson Street, Manchester, M2 6ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold None
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 June 2023 -
Additions 114,389
As at 31 May 2024 114,389
Net Book Value
As at 31 May 2024 114,389
As at 1 June 2023 -
5. Investments
Subsidiaries
£
Cost
As at 1 June 2023 -
Additions 408,328
As at 31 May 2024 408,328
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 408,328
As at 1 June 2023 -
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Shares in Subsidiaries
During the financial year, the company acquired 100% of the issued share capital in Droitwich Peak Energy Limited (Company number: 12086296), a company incorporated in England and Wales.
The principal activity of the subsidiary is the operation of a gas peaking power plant located at North Bank, Berry Hill Industrial Estate, Droitwich.
The investment is stated at cost of £408,328 and is reviewed annually for impairment. No impairment has been recognised during the financial year.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 190,000 -
Other debtors 43,182 -
VAT 10 -
233,192 -
Due after more than one year
Amounts owed by connected companies 2,146,645 -
2,379,837 -
Amounts Due from and to Connected Companies
At the balance sheet date, the company was owed a total of £2,146,645 from connected companies (2023: £15,577 was owed to connected companies). These balances are unsecured, interest-free, and repayable on demand.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 72,924 -
Other creditors 7,499 -
Accruals and deferred income 3,000 150
Amounts owed to connected companies - 15,577
83,423 15,727
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loan notes 2,845,000 -
Interest payable 60,822 -
2,905,822 -
9. Secured Creditors
The company’s secured creditors include loan notes, which are secured by fixed and floating charges over the company’s assets.
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Controlling Party
The immediate and ultimate controlling party is Terra Firma Energy Ltd, by virtue of its ownership of 85% of the issued share capital of the company.
Page 5