Silverfin false 03 June 2025 03 June 2025 Stephen Drew S&W Partners Audit Limited 288,293 490,396 false true 31/12/2024 01/01/2024 31/12/2024 M Wild 02/02/2023 D P Zachlod 02/02/2023 03 June 2025 The principal activity of the Company is that of a joint venture partner for offshore wind projects. 14635108 2024-12-31 14635108 bus:Director1 2024-12-31 14635108 bus:Director2 2024-12-31 14635108 2023-12-31 14635108 core:CurrentFinancialInstruments 2024-12-31 14635108 core:CurrentFinancialInstruments 2023-12-31 14635108 core:ShareCapital 2024-12-31 14635108 core:ShareCapital 2023-12-31 14635108 core:CapitalContributionReserve 2024-12-31 14635108 core:CapitalContributionReserve 2023-12-31 14635108 core:RetainedEarningsAccumulatedLosses 2024-12-31 14635108 core:RetainedEarningsAccumulatedLosses 2023-12-31 14635108 core:FurnitureFittings 2023-12-31 14635108 core:ComputerEquipment 2023-12-31 14635108 core:FurnitureFittings 2024-12-31 14635108 core:ComputerEquipment 2024-12-31 14635108 bus:OrdinaryShareClass1 2024-12-31 14635108 2024-01-01 2024-12-31 14635108 bus:FilletedAccounts 2024-01-01 2024-12-31 14635108 bus:SmallEntities 2024-01-01 2024-12-31 14635108 bus:Audited 2024-01-01 2024-12-31 14635108 2023-02-02 2023-12-31 14635108 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14635108 bus:Director1 2024-01-01 2024-12-31 14635108 bus:Director2 2024-01-01 2024-12-31 14635108 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 14635108 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 14635108 core:FurnitureFittings 2024-01-01 2024-12-31 14635108 core:ComputerEquipment 2024-01-01 2024-12-31 14635108 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 14635108 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 14635108 bus:OrdinaryShareClass1 2023-02-02 2023-12-31 14635108 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14635108 (England and Wales)

ENBW GENERATION UK LIMITED

Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ENBW GENERATION UK LIMITED

Financial Statements

For the financial year ended 31 December 2024

Contents

ENBW GENERATION UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
ENBW GENERATION UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS M Wild
D P Zachlod
REGISTERED OFFICE 45 Gresham Street
London
EC2V 7BG
United Kingdom
COMPANY NUMBER 14635108 (England and Wales)
AUDITOR S&W Partners Audit Limited
Statutory Auditor
103 Colmore Row
Birmingham
B3 3AG
ENBW GENERATION UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
ENBW GENERATION UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Tangible assets 3 43,012 35,064
43,012 35,064
Current assets
Debtors 4 1,917,044 1,854,511
Cash at bank and in hand 2,783,031 2,042,346
4,700,075 3,896,857
Creditors: amounts falling due within one year 5 ( 3,020,776) ( 1,921,317)
Net current assets 1,679,299 1,975,540
Total assets less current liabilities 1,722,311 2,010,604
Net assets 1,722,311 2,010,604
Capital and reserves
Called-up share capital 6 1,000 1,000
Capital contribution reserve 2,500,000 2,500,000
Profit and loss account ( 778,689 ) ( 490,396 )
Total shareholder's funds 1,722,311 2,010,604

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of EnBW Generation UK Limited (registered number: 14635108) were approved and authorised for issue by the Board of Directors on 03 June 2025. They were signed on its behalf by:

D P Zachlod
Director
M Wild
Director
ENBW GENERATION UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ENBW GENERATION UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 period, unless otherwise stated.

General information and basis of accounting

EnBW Generation UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 45 Gresham Street, London, EC2V 7BG, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of EnBW Generation UK Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The parent company directors have prepared a group budget that includes the UK company and has confirmed in writing to the directors that it will provide financial support to enable the Company to continue as a going concern and meets it’s liabilities as they fall due for the period of at least one year from the date of approval of these financial statements.

In the event that the existing trading relationship in place with EnBW AG were to change, the Company may not remain a going concern. The directors do not believe this to be a likely
scenario. On this basis, the directors of the Company have concluded that there are no material uncertainties that may cast doubt on the company’s ability to continue as a going concern.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would be required in the event of withdrawal of this support.

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 Statement of Financial Position 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 on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position 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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 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, 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.

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

2. Employees

Year ended
31.12.2024
Period from
02.02.2023 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 37 31

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 January 2024 0 43,026 43,026
Additions 3,631 18,126 21,757
At 31 December 2024 3,631 61,152 64,783
Accumulated depreciation
At 01 January 2024 0 7,962 7,962
Charge for the financial year 908 12,901 13,809
At 31 December 2024 908 20,863 21,771
Net book value
At 31 December 2024 2,723 40,289 43,012
At 31 December 2023 0 35,064 35,064

4. Debtors

31.12.2024 31.12.2023
£ £
Trade debtors 476,970 916,989
Amounts owed by Group undertakings 0 367,513
Prepayments and accrued income 1,440,074 570,009
1,917,044 1,854,511

5. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Trade creditors 85,600 81,207
Amounts owed to Group undertakings 1,078,211 503,633
Accruals 1,488,174 1,016,078
Other taxation and social security 306,193 281,410
Other creditors 62,598 38,989
3,020,776 1,921,317

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

7. Financial commitments

Other financial commitments

31.12.2024 31.12.2023
£ £
Operating lease commitments - Less than one year 0 8,270

8. Related party transactions

The company has taken advantage of the exemption available under Section 33 of FRS 102 and has not disclosed details of transactions or balances with other wholly-owned group companies.

9. Reserves

Capital Contribution

The capital contribution reserve represents capital contributions by the parent entity for which repayment will not be sought.

10. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Stephen Drew on behalf of S&W Partners Audit Limited.

11. Ultimate controlling party

The immediate and ultimate parent company is EnBW Energie Baden-Württemberg AG, a company registered in Germany. The address of the registered office is Durlacher Allee 93, 76131 Karlsruhe.