Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Andrew Mulholland 17/10/2012 Glenn Murphy 17/10/2012 Kenneth Spalding 17/10/2012 22 July 2025 The principal activity of the Company is the provision of wind generated electricity. SC434932 2024-10-31 SC434932 bus:Director1 2024-10-31 SC434932 bus:Director2 2024-10-31 SC434932 bus:Director3 2024-10-31 SC434932 2023-10-31 SC434932 core:CurrentFinancialInstruments 2024-10-31 SC434932 core:CurrentFinancialInstruments 2023-10-31 SC434932 core:ShareCapital 2024-10-31 SC434932 core:ShareCapital 2023-10-31 SC434932 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC434932 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC434932 core:OtherPropertyPlantEquipment 2023-10-31 SC434932 core:OtherPropertyPlantEquipment 2024-10-31 SC434932 bus:OrdinaryShareClass1 2024-10-31 SC434932 bus:OrdinaryShareClass2 2024-10-31 SC434932 bus:OrdinaryShareClass3 2024-10-31 SC434932 2023-11-01 2024-10-31 SC434932 bus:FilletedAccounts 2023-11-01 2024-10-31 SC434932 bus:SmallEntities 2023-11-01 2024-10-31 SC434932 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC434932 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC434932 bus:Director1 2023-11-01 2024-10-31 SC434932 bus:Director2 2023-11-01 2024-10-31 SC434932 bus:Director3 2023-11-01 2024-10-31 SC434932 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-11-01 2024-10-31 SC434932 2022-11-01 2023-10-31 SC434932 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 SC434932 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC434932 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC434932 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 SC434932 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 SC434932 bus:OrdinaryShareClass3 2023-11-01 2024-10-31 SC434932 bus:OrdinaryShareClass3 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC434932 (Scotland)

PATHSIDE ENERGY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

PATHSIDE ENERGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

PATHSIDE ENERGY LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2024
PATHSIDE ENERGY LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 86,949 96,160
86,949 96,160
Current assets
Debtors 4 32,237 20,006
Cash at bank and in hand 342 406
32,579 20,412
Creditors: amounts falling due within one year 5 ( 48,129) ( 46,796)
Net current liabilities (15,550) (26,384)
Total assets less current liabilities 71,399 69,776
Provision for liabilities 6 ( 15,697) ( 17,579)
Net assets 55,702 52,197
Capital and reserves
Called-up share capital 7 99 99
Profit and loss account 55,603 52,098
Total shareholders' funds 55,702 52,197

For the financial year ending 31 October 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 Pathside Energy Limited (registered number: SC434932) were approved and authorised for issue by the Board of Directors on 22 July 2025. They were signed on its behalf by:

Andrew Mulholland
Director
PATHSIDE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PATHSIDE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 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 year, unless otherwise stated.

General information and basis of accounting

Pathside Energy 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 C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom. The principal place of business is 35 South Street, Elgin, IV30 1JZ.

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 business has net current liabilities of £15,550. The Company is supported through loans from the related Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the related Company will continue to support the Company. After making enquiries, the directors 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.

Turnover

Turnover represents amounts receivable from wind generated electricity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid 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 etc. 20 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.

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 Statement of Income and Retained Earnings 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its 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.

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. 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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 cash and bank balances, are initially measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 184,228 184,228
At 31 October 2024 184,228 184,228
Accumulated depreciation
At 01 November 2023 88,068 88,068
Charge for the financial year 9,211 9,211
At 31 October 2024 97,279 97,279
Net book value
At 31 October 2024 86,949 86,949
At 31 October 2023 96,160 96,160

4. Debtors

2024 2023
£ £
Corporation tax 739 1,597
Other debtors 31,498 18,409
32,237 20,006

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,346 0
Corporation tax 1,907 0
Other creditors 41,876 46,796
48,129 46,796

6. Provision for liabilities

2024 2023
£ £
Deferred tax 15,697 17,579

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
33 Ordinary shares of £ 1.00 each 33 33
33 A Ordinary shares of £ 1.00 each 33 33
33 B Ordinary shares of £ 1.00 each 33 33
99 99

8. Related party transactions

Transactions with the entity's directors

Advances

At 1 November 2023, the company was due £18,361 from the directors. Advances were made in the year totalling £23,700. Interest has been charged on the advances at a rate of 2.25%, totalling £242. Repayments for the year totalled £18,810, therefore, at 31 October 2024, the balance due from the directors to the company is £23,493. There are no fixed terms of repayment on this balance.

Other related party transactions

2024 2023
£ £
Entities which has control, joint control or significant influence. 39,400 44,546

The above balances are unsecured, interest free and have no fixed repayment terms.