Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mrs L Davidson 09/08/2024 Mr J Di Sotto 09/08/2024 Mr P Gibson 03/06/2024 03/04/2023 Mr C Maclennan 09/08/2024 Mr I Thomas 30/07/2010 29 July 2025 The principal activity of the company in the year under review was that of the supply, installation and maintenance of renewable heat pump systems and energy generation and storage systems. SC376132 2024-07-31 SC376132 bus:Director1 2024-07-31 SC376132 bus:Director2 2024-07-31 SC376132 bus:Director3 2024-07-31 SC376132 bus:Director4 2024-07-31 SC376132 bus:Director5 2024-07-31 SC376132 2023-07-31 SC376132 core:CurrentFinancialInstruments 2024-07-31 SC376132 core:CurrentFinancialInstruments 2023-07-31 SC376132 core:Non-currentFinancialInstruments 2024-07-31 SC376132 core:Non-currentFinancialInstruments 2023-07-31 SC376132 core:ShareCapital 2024-07-31 SC376132 core:ShareCapital 2023-07-31 SC376132 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC376132 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC376132 core:LeaseholdImprovements 2023-07-31 SC376132 core:PlantMachinery 2023-07-31 SC376132 core:Vehicles 2023-07-31 SC376132 core:OfficeEquipment 2023-07-31 SC376132 core:LeaseholdImprovements 2024-07-31 SC376132 core:PlantMachinery 2024-07-31 SC376132 core:Vehicles 2024-07-31 SC376132 core:OfficeEquipment 2024-07-31 SC376132 bus:OrdinaryShareClass1 2024-07-31 SC376132 2023-08-01 2024-07-31 SC376132 bus:FilletedAccounts 2023-08-01 2024-07-31 SC376132 bus:SmallEntities 2023-08-01 2024-07-31 SC376132 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC376132 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC376132 bus:Director1 2023-08-01 2024-07-31 SC376132 bus:Director2 2023-08-01 2024-07-31 SC376132 bus:Director3 2023-08-01 2024-07-31 SC376132 bus:Director4 2023-08-01 2024-07-31 SC376132 bus:Director5 2023-08-01 2024-07-31 SC376132 core:LeaseholdImprovements core:TopRangeValue 2023-08-01 2024-07-31 SC376132 core:PlantMachinery 2023-08-01 2024-07-31 SC376132 core:Vehicles 2023-08-01 2024-07-31 SC376132 core:OfficeEquipment 2023-08-01 2024-07-31 SC376132 2022-08-01 2023-07-31 SC376132 core:LeaseholdImprovements 2023-08-01 2024-07-31 SC376132 core:CurrentFinancialInstruments 2023-08-01 2024-07-31 SC376132 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 SC376132 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC376132 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 SC376132 1 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC376132 (Scotland)

BLACK ISLE RENEWABLES LIMITED

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

BLACK ISLE RENEWABLES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

BLACK ISLE RENEWABLES LIMITED

BALANCE SHEET

AS AT 31 JULY 2024
BLACK ISLE RENEWABLES LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 14,148 17,424
14,148 17,424
Current assets
Stocks 77,011 69,874
Debtors 4 86,835 210,964
Cash at bank and in hand 207,482 71,324
371,328 352,162
Creditors: amounts falling due within one year 5 ( 301,527) ( 240,600)
Net current assets 69,801 111,562
Total assets less current liabilities 83,949 128,986
Creditors: amounts falling due after more than one year 6 ( 52,696) ( 77,392)
Net assets 31,253 51,594
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 31,153 51,494
Total shareholders' funds 31,253 51,594

For the financial year ending 31 July 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 Black Isle Renewables Limited (registered number: SC376132) were approved and authorised for issue by the Board of Directors on 29 July 2025. They were signed on its behalf by:

Mrs L Davidson
Director
BLACK ISLE RENEWABLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
BLACK ISLE RENEWABLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 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

Black Isle Renewables 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 Aes Building, Lea Road, Forres, IV36 1AU, Scotland, 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 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. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

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, other than investment property and freehold land, 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:

Leasehold improvements 5 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 23

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 August 2023 29,620 12,201 14,093 6,995 62,909
Additions 0 0 2,500 634 3,134
Disposals 0 0 0 ( 3,730) ( 3,730)
At 31 July 2024 29,620 12,201 16,593 3,899 62,313
Accumulated depreciation
At 01 August 2023 25,916 8,707 5,281 5,581 45,485
Charge for the financial year 2,493 876 2,516 368 6,253
Disposals 0 0 0 ( 3,573) ( 3,573)
At 31 July 2024 28,409 9,583 7,797 2,376 48,165
Net book value
At 31 July 2024 1,211 2,618 8,796 1,523 14,148
At 31 July 2023 3,704 3,494 8,812 1,414 17,424

4. Debtors

2024 2023
£ £
Trade debtors 63,246 180,181
Other debtors 23,589 30,783
86,835 210,964

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 30,000 30,000
Trade creditors 140,062 163,234
Other taxation and social security 11,776 15,367
Obligations under finance leases and hire purchase contracts 3,669 3,669
Other creditors 116,020 28,330
301,527 240,600

The bank loans include £10,000 (2023 - £10,000) of a bounce back loan which is guaranteed by the UK government and another loan of £20,000 (2023 - £20,000) which is unsecured.

The obligations under hire purchase contracts totalling £3,669 (2023 - £3,669) are secured over the assets which the agreements relate to.

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

2024 2023
£ £
Bank loans 51,473 72,500
Obligations under finance leases and hire purchase contracts 1,223 4,892
52,696 77,392

The bank loans include a bounce back loan of £9,922 (2023 - £19,167) which is guaranteed by the UK government and another loan of £41,551 (2023 - £53,333) which is unsecured.

The obligations under hire purchase contracts totalling £1,223 (2023 - £4,892) are secured over the assets which the agreements relate to.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Other financial commitments

2024 2023
£ £
Non-cancellable operating leases 121,677 44,321

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Sales 3,600 5,760
Purchases 5,208 5,770

10. Events after the Balance Sheet date

After the year-end AES Limited (SC084742) purchased 100% of the issued share capital of the company.