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REGISTERED NUMBER: 07743572 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Rubena Solar Limited

Rubena Solar Limited (Registered number: 07743572)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Rubena Solar Limited (Registered number: 07743572)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 538,123 580,616
Investments 5 11,744,502 -
12,282,625 580,616

CURRENT ASSETS
Stocks 9,956 -
Debtors 6 31,199 1,122,983
Cash at bank 169,018 231,221
210,173 1,354,204
CREDITORS
Amounts falling due within one year 7 (1,288,206 ) (27,706 )
NET CURRENT (LIABILITIES)/ASSETS (1,078,033 ) 1,326,498
TOTAL ASSETS LESS CURRENT LIABILITIES 11,204,592 1,907,114

CREDITORS
Amounts falling due after more than one
year

8

(12,736,732

)

(1,808,642

)
NET (LIABILITIES)/ASSETS (1,532,140 ) 98,472

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,532,141 ) 98,471
(1,532,140 ) 98,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Rubena Solar Limited (Registered number: 07743572)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:





Mr G R Bell - Director


Rubena Solar Limited (Registered number: 07743572)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Rubena Solar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07743572

Registered office: Westminster House
10 Westminster Road
Macclesfield
Cheshire
SK10 1BX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable,excluding discounts, rebates, VAT and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost and 4% on cost

Investments in subsidiaries
Subsidiary investments are initially recorded at cost. As the subsidiary companies operate businesses with an expected fixed life, the investments are being impaired over this period. This treatment is reviewed annually and will be updated if there are any relevant changes in circumstances.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Rubena Solar Limited (Registered number: 07743572)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024
and 31 December 2024 1,356,110
DEPRECIATION
At 1 January 2024 775,494
Charge for year 42,493
At 31 December 2024 817,987
NET BOOK VALUE
At 31 December 2024 538,123
At 31 December 2023 580,616

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 12,390,252
At 31 December 2024 12,390,252
PROVISIONS
Provision for year 645,750
At 31 December 2024 645,750
NET BOOK VALUE
At 31 December 2024 11,744,502

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings - 1,092,189
Other debtors 31,199 30,794
31,199 1,122,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 35,310 4,498
Amounts owed to group undertakings 1,252,896 -
Taxation and social security - 19,600
Other creditors - 3,608
1,288,206 27,706

Rubena Solar Limited (Registered number: 07743572)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 12,736,732 1,808,642

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 16,636 15,844
Between one and five years 67,875 64,643
In more than five years 137,644 147,409
222,155 227,896

The total of future minimum lease payments under non-cancellable operating leases are set out below. The amounts due are increased each year by the RPI.

10. CONTINGENT LIABILITIES

The Company has a constructive obligation to return the land on which the solar sites are built to its original condition at the end of the lease. The directors believe that given the nature of the assets, the lessor may wish to either take title of the assets for either continued use or to realise value through selling the assets. As such, the directors do not believe that an outflow is probable to settle this restoration obligation. The directors will continue to monitor this situation at each balance sheet date.

11. RELATED PARTY DISCLOSURES

During the year the company acquired 8 subsidiaries from its immediate parent company, Atmosclear Investments Ltd for the consideration of £12,390,251.

Interest is payable on the loan owed to the parent company at a rate of 9% per annum above the Bank of England's base rate. The amount expensed in relation to interest charges in the year was £931,582. The balanced owed to the parent company in respect of this loan at the balance sheet date was £10,928,091.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Atmosclear Investments Limited . Its registered office address is Westminster House, 10 Westminster Road, Macclesfield, Cheshire, SK10 1BX. Its principal place of business is Pine Grove Enterprise Centre, Pine Grove, Crowborough, East Sussex, TN6 1DH.

The ultimate parent undertaking is Biothermic Holdings SA . Its registered office address is 16 Rue Jean L'Aveugle, L-1148, Luxembourg.