REGISTERED NUMBER: 11304944 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

Community Energy Scheme Stoke Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Ms J A Clare

D Elbourne

T H Harrison

F Van Waesberghe

REGISTERED OFFICE:

Suite 6

Broadmeads Pumping Station

Hertford Road

Hertfordshire

SG12 9LH

REGISTERED NUMBER:

11304944 (England and Wales)

AUDITORS:

Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of production of electricity through the administering and operation of solar panels..

REVIEW OF BUSINESS

During the year the company made a loss after tax of £849,207 (2023: £617,283)

No dividends have been paid or proposed for the year (2023: £nil)

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2024.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Ms J A Clare

D Elbourne

Other changes in directors holding office are as follows:

T H Harrison - appointed 20 December 2023

F Van Waesberghe - appointed 15 September 2023

GOING CONCERN

As mentioned in the going concern disclosure note, the directors are confident that the company has sufficient financial resources to continue to trade and meet its liabilities as they fall due.

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENT ACTION

The company is exempt from reporting under SECR as a low energy user. The company is committed to environmental sustainability and aims to minimise its impact on the environment by continually sourcing its energy from renewable sources.

PRIOR YEAR ACCOUNTS

The balance sheet in the prior year accounts erroneously stated that the company was entitled to exemption from audit under section 477 of the Companies Act relating to small companies. As a result the accounts were defective. The directors have corrected this issue in the current year financial statements and the balance sheet no longer makes this statement as the financial statements of the company for the year ended 31 March 2024 have been audited.The prior year financial statements have not been revised in respect of this matter.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Cartwrights, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms J A Clare - Director

19 June 2025

Opinion

We have audited the financial statements of Community Energy Scheme Stoke Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, and that they remained alert to instances of non-compliance throughout the audit.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- based on our understanding of the company and industry, and through discussions with directors and key management, we identified any specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; and

- we assessed the extent of compliance with these laws and regulations through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries, particularly focused around the year-end, to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates in the notes to the financial statements were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters

The comparative figures in these financial statements are unaudited.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Hill FCA (Senior Statutory Auditor)

for and on behalf of Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

19 June 2025

TURNOVER

1,272,355

1,346,783

Cost of sales

(44,010

)

(133,410

)

GROSS PROFIT

1,228,345

1,213,373

Administrative expenses

(1,578,087

)

(1,352,607

)

OPERATING LOSS

5

(349,742

)

(139,234

)

Interest receivable and similar income

5

-

(349,737

)

(139,234

)

Interest payable and similar expenses

6

(499,470

)

(478,049

)

LOSS BEFORE TAXATION

(849,207

)

(617,283

)

Tax on loss

7

-

-

LOSS FOR THE FINANCIAL YEAR

(849,207

)

(617,283

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(849,207

)

(617,283

)

FIXED ASSETS

Tangible assets

8

8,693,165

9,405,489

CURRENT ASSETS

Debtors

9

3,253,275

2,966,323

Cash at bank

31,392

1,439

3,284,667

2,967,762

CREDITORS

Amounts falling due within one year

10

7,834,336

7,697,183

NET CURRENT LIABILITIES

(4,549,669

)

(4,729,421

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,143,496

4,676,068

CREDITORS

Amounts falling due after more than one year

11

7,625,781

7,309,146

NET LIABILITIES

(3,482,285

)

(2,633,078

)

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

13

(3,482,286

)

(2,633,079

)

SHAREHOLDERS' FUNDS

(3,482,285

)

(2,633,078

)

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:

Ms J A Clare - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2022

1

(2,015,796

)

(2,015,795

)

Changes in equity

Total comprehensive income

-

(617,283

)

(617,283

)

Balance at 31 March 2023

1

(2,633,079

)

(2,633,078

)

Changes in equity

Total comprehensive income

-

(849,207

)

(849,207

)

Balance at 31 March 2024

1

(3,482,286

)

(3,482,285

)

1.	STATUTORY INFORMATION

Community Energy Scheme Stoke Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the company's directors and shareholders. If the company were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts and to reclassify fixed assets as current assets.

The directors of the parent company have confirmed that they will not call in the loans within 12 months of the date of approval of the financial statements and have also confirmed that further support will be provided if necessary to enable the company to continue to trade and meet its liabilities as they fall due for are least 12 months from the date of approval of the financial statements.

As at 31 March 2024 the company had net current liability of £4,549,669 (2023: £4,729,421) and net liabilities of £3,482,285 (2023: £2,633,078). Included in net current liabilities is an amount of £7,297,757 (2023: £6,868,646) owed to group undertakings.

Revenue recognition and the timely settlement of terms and invoices by customers has a direct bearing on the company's ability to generate sufficient cash flows for working capital purposes, fund existing operations and to finance future growth plans. For these reasons, the generation of sufficient operating cash flows remains at heightened risk.With the successful outcome of the Ofgem enquiry after the year-end, the directors believe that there will be significant improvements in cash collection from customers as the company is now able to acitvely pursue monies owed.

The directors have stress-tested the revenue assumptions included in the companys cash projections through to 30 June 2026 under a number of scenarios by forecasting a reduction in revenues and have considered measures in line with their future business plans and forecasts..

Based on these tests, the current level of bank balances available to the company, and the continued support of fellow group underakings and the parent company, the directors believe the company will generate sufficient working capital and cash flows to continue in operational existence.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

The financial statements of the company are consolidated in the financial statements of ABN AMRO Bank N.V. Copies of these consolidated financial statements are available from the company's registered office Suite 6 Broadmeads Pumping Station, Hertford Road, Ware, Herts, SG12 9LH.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Provision for doubtful debts

The directors consider all contracts the company enters in to and makes judgements based on the expected outcomes.

Impairment

The carrying amount of intangible assets is reviewed at each reporting date to determine whether there ls any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful economic life on the following bases:

Plant and equipment - solar panels, 4% on cost

Plant and equipment - inverters, 10% on cost

Plant and equipment - computer equipment, 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and carrying value of the asset, and is credited or charged to the profit and loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs

.

The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement.

Financial assets are derecognised when:

- the contractual right to cash flows from the asset are settled or expire,

- substantially all the risk and rewards of the ownership of the asset are transferred to another party or

- despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 March 2024 nor for the year ended 31 March 2023.

The average number of employees during the year was NIL (2023 - NIL).

31/3/24

31/3/23

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

31/3/24

31/3/23

£

£

Depreciation - owned assets

525,041

580,016

Auditors' remuneration

5,883

18,279

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/3/24

31/3/23

£

£

Bank loan interest

499,470

478,049

7.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/3/24

31/3/23

£

£

Loss before tax

(849,207

)

(617,283

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2023 - 19%)

(161,349

)

(117,284

)

Effects of:

Tax losses carried forward not utilised

161,349

117,284

Total tax charge

-

-

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2023

11,742,941

Additions

(1

)

Disposals

(187,282

)

At 31 March 2024

11,555,658

DEPRECIATION

At 1 April 2023

2,337,452

Charge for year

525,041

At 31 March 2024

2,862,493

NET BOOK VALUE

At 31 March 2024

8,693,165

At 31 March 2023

9,405,489

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/24

31/3/23

£

£

Trade debtors

1,616,251

1,338,190

Other debtors

1,020,259

1,056,523

VAT

34,551

17,642

Prepayments and accrued income

582,214

553,968

3,253,275

2,966,323

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/24

31/3/23

£

£

Trade creditors

317,029

269,503

Amounts owed to group undertakings

7,297,757

6,868,646

Accruals and deferred income

219,550

559,034

7,834,336

7,697,183

Amount owed to group undertakings are unsecured loans which bears interest at 7%. The loans are repayable in 2043.

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/24

31/3/23

£

£

Amounts owed to group undertakings

7,297,757

6,982,424

Other creditors

-

(1,302

)

Accruals and deferred income

328,024

328,024

7,625,781

7,309,146

Amount owed to group undertakings are unsecured loans which bear interest at 7%. The loans are repayable in 2043.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/24

31/3/23

value:

£

£

1

Ordinary

1

1

1

13.

RESERVES

Retained

earnings

£

At 1 April 2023

(2,633,079

)

Deficit for the year

(849,207

)

At 31 March 2024

(3,482,286

)

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date the following balances existed from connected companies due to a common director association:

Trade debtors £49,000 (2023: £49,000)

Trade creditors £8,621 (2023: £8,621)

Trade creditors £62,172 (2023: £nil)

Trade creditors £nil (2023: £24,058)

During the year the company purchased goods and services at arm's length from a connected company with common directors totalling £785,126 (2023: £390,043).

15.	POST BALANCE SHEET EVENTS

Ofgem published its finding on the investigation into Community Energy Scheme UK's sales and customer practices in October 2023 after accepting actions proposed by the company to address key concerns regarding sales practices up to September 2019, existing and new contracts signed by consumers and billing information provided to consumers about charges applied and whether charges are estimated.

Since that date, Ofgem monitored the implementation of the agreed actions and, after evidence provided by the company showing that the agreed actions were completed, it formally closed the investigation on 19 July 2024.

16.	ULTIMATE CONTROLLING PARTY

The immediate holding company at the balance sheet was Community Energy Scheme UK Limited and the ultimate controlling party is ABN AMRO Bank N.V. by virtue of its majority shareholding in the parent company.

The largest and smallest group in which these figures are consolidated is that of ABN AMRO Bank N.V., a company registered in The Netherlands. Consolidated financial statements are publicly available at the company's registered office Suite 6 Broadmeads Pumping Station, Hertford Road, Ware, Herts, SG12 9LH