Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Lord Ramsay 18/06/2013 The Right Honourable James Hubert Lord Dalhousie Ramsay 18/06/2013 12 June 2025 The Principal activity of the Company during the financial year continued to be that of the operation of hydro schemes. SC452602 2025-03-31 SC452602 bus:Director1 2025-03-31 SC452602 bus:Director2 2025-03-31 SC452602 2024-03-31 SC452602 core:CurrentFinancialInstruments 2025-03-31 SC452602 core:CurrentFinancialInstruments 2024-03-31 SC452602 core:Non-currentFinancialInstruments 2025-03-31 SC452602 core:Non-currentFinancialInstruments 2024-03-31 SC452602 core:ShareCapital 2025-03-31 SC452602 core:ShareCapital 2024-03-31 SC452602 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC452602 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC452602 core:PlantMachinery 2024-03-31 SC452602 core:Vehicles 2024-03-31 SC452602 core:PlantMachinery 2025-03-31 SC452602 core:Vehicles 2025-03-31 SC452602 core:MoreThanFiveYears 2025-03-31 SC452602 core:MoreThanFiveYears 2024-03-31 SC452602 bus:OrdinaryShareClass1 2025-03-31 SC452602 2024-04-01 2025-03-31 SC452602 bus:FilletedAccounts 2024-04-01 2025-03-31 SC452602 bus:SmallEntities 2024-04-01 2025-03-31 SC452602 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC452602 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC452602 bus:Director1 2024-04-01 2025-03-31 SC452602 bus:Director2 2024-04-01 2025-03-31 SC452602 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 SC452602 core:Vehicles 2024-04-01 2025-03-31 SC452602 2023-04-01 2024-03-31 SC452602 core:PlantMachinery 2024-04-01 2025-03-31 SC452602 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 SC452602 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 SC452602 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC452602 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC452602 (Scotland)

INVERMARK HYDRO LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

INVERMARK HYDRO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

INVERMARK HYDRO LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025
INVERMARK HYDRO LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 1,140,622 1,242,771
1,140,622 1,242,771
Current assets
Debtors 4 85,795 137,254
Cash at bank and in hand 103,000 124,814
188,795 262,068
Creditors: amounts falling due within one year 5 ( 152,286) ( 199,548)
Net current assets 36,509 62,520
Total assets less current liabilities 1,177,131 1,305,291
Creditors: amounts falling due after more than one year 6 ( 772,933) ( 881,244)
Provision for liabilities 7 ( 43,123) ( 54,347)
Net assets 361,075 369,700
Capital and reserves
Called-up share capital 8 138,001 138,001
Profit and loss account 223,074 231,699
Total shareholder's funds 361,075 369,700

For the financial year ending 31 March 2025 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 Invermark Hydro Limited (registered number: SC452602) were approved and authorised for issue by the Board of Directors on 12 June 2025. They were signed on its behalf by:

Lord Ramsay
Director
INVERMARK HYDRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
INVERMARK HYDRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
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

Invermark Hydro 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 Dalhousie Estate Office, West Lodge, Brechin, DD9 6RL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements and confirm that they will continue to support the company for at least twelve months from the approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for renewable energy production net of VAT and trade discounts.

Turnover is recognised when the hydro schemes generate electricity.

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, 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:

Plant and machinery 20 years straight line
Vehicles 25 % 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.

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

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.

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.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2024 1,895,462 30,132 1,925,594
At 31 March 2025 1,895,462 30,132 1,925,594
Accumulated depreciation
At 01 April 2024 682,195 628 682,823
Charge for the financial year 94,773 7,376 102,149
At 31 March 2025 776,968 8,004 784,972
Net book value
At 31 March 2025 1,118,494 22,128 1,140,622
At 31 March 2024 1,213,267 29,504 1,242,771

4. Debtors

2025 2024
£ £
Trade debtors 73,990 119,152
Other debtors 11,805 18,102
85,795 137,254

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 108,261 103,887
Trade creditors 360 4,188
Taxation and social security 17,530 44,902
Other creditors 26,135 46,571
152,286 199,548

Bank loans are secured by a floating charge over the property and undertakings of the company.

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

2025 2024
£ £
Bank loans 772,933 881,244

Included in Bank loans is a loan totalling £262,933 (2024 - £371,224) which is secured by a floating charge over the property and undertakings of the company.

Also included in Bank loans is a loan totalling £510,000 (2024 - £510,000) which is secured on land owned by the Shareholder.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2025 2024
£ £
Bank loans (repayable by instalments) 510,000 510,000

7. Provision for liabilities

2025 2024
£ £
Deferred tax 43,123 54,347

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
138,001 Ordinary shares of £ 1.00 each 138,001 138,001