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Registration number: 09586328

Pioneer GP Management Spain Limited
(formerly Island Green Power Spain Limited)

Unaudited Filleted Financial Statements

for the Period from 1 January 2024 to 30 April 2025

 

Pioneer GP Management Spain Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Pioneer GP Management Spain Limited

(Registration number: 09586328)
Balance Sheet as at 30 April 2025

Note

2025
£

2023
£

Fixed assets

 

Tangible assets

4

1,449,661

-

Investments

5

59,270

61,292

 

1,508,931

61,292

Current assets

 

Debtors

6

6,199,040

5,992,942

Cash at bank and in hand

 

586,522

8,090

 

6,785,562

6,001,032

Creditors: Amounts falling due within one year

7

(2,850,151)

(13,286,486)

Net current assets/(liabilities)

 

3,935,411

(7,285,454)

Net assets/(liabilities)

 

5,444,342

(7,224,162)

Capital and reserves

 

Called up share capital

8

101

100

Share premium reserve

8,397,384

-

Retained earnings

(2,953,143)

(7,224,262)

Shareholders' funds/(deficit)

 

5,444,342

(7,224,162)

For the financial period ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 July 2025 and signed on its behalf by:

.........................................
I P Lawrie
Director

 

Pioneer GP Management Spain Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Island Green Power Spain Limited.

The address of its registered office is:
Unit 25.7 Coda Studios
189 Munster Road
London
SW6 6AW
England

These financial statements were authorised for issue by the Board on 19 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

These accounts cover a period longer than a year due to a change of ownership in the period.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Pioneer GP Management Spain Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 April 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Assets under construction

Assets under construction are accounted for at total cost incurred to balance sheet date. They are not depreciated until the accounting period in which they are brought into use. At each reporting date, assets under construction are assessed for impairment. If management consider an impairment is required, the carrying amount is reduced to the assets selling price less costs to complete and sell. The impairment loss is recognised in the profit and loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Assets under construction

nil until asset in use

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Pioneer GP Management Spain Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 April 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 0).

 

Pioneer GP Management Spain Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 April 2025

4

Tangible assets

Assets under construction
 £

Total
£

Cost or valuation

Additions

1,449,661

1,449,661

At 30 April 2025

1,449,661

1,449,661

Carrying amount

At 30 April 2025

1,449,661

1,449,661

5

Investments

2025
£

2023
£

Investments in subsidiaries/joint ventures

59,270

61,292

Subsidiaries/joint ventures

£

Cost or valuation

At 1 January 2024

61,292

Disposals of joint ventures

(2,022)

At 30 April 2025

59,270

Carrying amount

At 30 April 2025

59,270

At 31 December 2023

61,292

6

Debtors

2025
£

2023
£

Trade debtors

4,682,677

2,548,008

Amounts owed by group undertakings

1,448,651

3,444,934

Prepayments

67,712

-

6,199,040

5,992,942

 

Pioneer GP Management Spain Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2023
£

Due within one year

Trade creditors

2,203,134

1,076,686

Amounts owed to group undertakings

-

11,094,246

Taxation and social security

-

(283)

Accruals and deferred income

449,092

1,115,837

Other creditors

197,925

-

2,850,151

13,286,486

8

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary shares of £1 each

101

101

100

100

       

9

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is PWD TOPCO Limited.

The address of PWD TOPCO Limited is:
8th Floor 4 More London, Riverside, London, United Kingdom, SE1 2AU