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Company No: 14191444 (England and Wales)

BSSL LINCS 1 LTD
(Formerly RNA LINCS 1 LTD)

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

BSSL LINCS 1 LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

BSSL LINCS 1 LTD

COMPANY INFORMATION

For the financial year ended 30 June 2024
BSSL LINCS 1 LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS R Ammoun (Resigned 13 March 2024)
H Bayem (Appointed 13 March 2024)
G Bird (Appointed 13 March 2024)
R Viner (Appointed 13 March 2024)
N Viney (Resigned 13 March 2024)
REGISTERED OFFICE 16 Stratford Place
London
W1C 1BF
United Kingdom
COMPANY NUMBER 14191444 (England and Wales)
BSSL LINCS 1 LTD

BALANCE SHEET

As at 30 June 2024
BSSL LINCS 1 LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Current assets
Debtors 3 0 100
0 100
Creditors: amounts falling due within one year 4 ( 2,812) ( 1,456)
Net current liabilities (2,812) (1,356)
Total assets less current liabilities (2,812) (1,356)
Net liabilities ( 2,812) ( 1,356)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 2,912 ) ( 1,456 )
Total shareholder's deficit ( 2,812) ( 1,356)

The accompanying notes form an integral part of these financial statements.

For the financial year ending 30 June 2024 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 BSSL Lincs 1 Ltd (registered number: 14191444) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

R Viner
Director
BSSL LINCS 1 LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
BSSL LINCS 1 LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

BSSL Lincs 1 Ltd (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 16 Stratford Place, London, W1C 1BF, 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 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 note that the Company has net liabilities of £2,812. The Company is supported through loans from the Parent Company. After making enquiries, the directors have a reasonable expectation that the Parent Company will continue to provide financial support to the Company and has adequate resources to be able to do so. The directors therefore believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The comparative period represents the period from incorporation to 30 June 2023 whereas the current period is for the year ended 30 June 2024. The comparative amounts presented in the financial statements (including related notes) are therefore not entirely comparable.

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.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

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.

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

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.

2. Employees

Year ended
30.06.2024
Period from
23.06.2022 to
30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Debtors

30.06.2024 30.06.2023
£ £
Amounts owed by Group undertakings 0 100

The balance is repayable on demand. No interest is charged and there are no fixed terms of repayment.

4. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Amounts owed to Group undertakings 2,812 1,456

The balance is repayable on demand. No interest is charged and there are no fixed terms of repayment.

5. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary £1 fully paid shares of £ 1.00 each (30.06.2023: nil shares) 100 0
Allotted, called-up and not yet paid
Nil Ordinary £1 shares (30.06.2023: 100 shares of £ 1.00 each) 0 100

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.

6. Related party transactions

The Company has taken advantage of the exemption not to disclose transactions with its parent undertaking and wholly owned members of the Group.

7. Ultimate controlling party

Parent Company:

From 1 April 2024, the following entity is the parent of the smallest group for which consolidated financial statements are drawn up:Brockwell Energy Group (2) LimitedCompany number 15522043
16 Stratford Place, London, United Kingdom, W1C 1BF

From 13 March 2024 until 31 March 2024, the following entity was the parent of the smallest group for which consolidated financial statements were drawn up:

Lantern Holdco Limited
Company number 11569920
1 Bartholomew Lane, London, England, EC2N 2AX

Prior to 13 March 2024, there was no parent that prepared consolidated financial statements.