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Registration number: 06422434

C.GEN Killingholme Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

C.GEN Killingholme Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

C.GEN Killingholme Limited

Company Information

Directors

F S Maes

B D Dove-Seymour

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

C.GEN Killingholme Limited

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

11,849,734

Tangible assets

5

7,200,457

9,856,876

 

7,200,457

21,706,610

Current assets

 

Debtors

6

35,307,218

4,077,702

Cash at bank and in hand

 

287,716

306,934

 

35,594,934

4,384,636

Creditors: Amounts falling due within one year

7

(8,864,026)

(1,171,418)

Net current assets

 

26,730,908

3,213,218

Net assets

 

33,931,365

24,919,828

Capital and reserves

 

Called up share capital

27,250,000

27,250,000

Retained earnings

6,681,365

(2,330,172)

Shareholders' funds

 

33,931,365

24,919,828

For the financial year ending 31 December 2024 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 year 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

 

C.GEN Killingholme Limited

Statement of Financial Position as at 31 December 2024

Approved and authorised by the Board on 15 July 2025 and signed on its behalf by:
 

.........................................

F S Maes

Director

Company registration number: 06422434

 

C.GEN Killingholme Limited

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

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of energy development.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 31 December 2024 amounting to £33,931,365.

The company has few fixed overheads and the cashflow forecasts prepared demonstrate that the company has sufficient working capital for a period of at least 12 months from the date of approval of the financial statements.

Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

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.

 

C.GEN Killingholme Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.No depreciation is provided until the development is complete are providing economic benefit .

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. No amortisation is provided until the development is complete and providing economic benefit.

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.

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 during the year, was 1 (2023 - 1).

 

C.GEN Killingholme Limited

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

4

Intangible assets

Development costs
£

Cost or valuation

At 1 January 2024

11,849,734

Transfers

(501,617)

Disposals

(11,348,117)

At 31 December 2024

-

Carrying amount

At 31 December 2024

-

At 31 December 2023

11,849,734

5

Tangible assets

Freehold land
£

Assets under construction
£

Total
£

Cost or valuation

At 1 January 2024

9,260,266

596,610

9,856,876

Disposals

(2,845,297)

(312,738)

(3,158,035)

Transfers

785,488

(283,872)

501,616

At 31 December 2024

7,200,457

-

7,200,457

Carrying amount

At 31 December 2024

7,200,457

-

7,200,457

At 31 December 2023

9,260,266

596,610

9,856,876

 

C.GEN Killingholme Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

782

782

Other debtors

35,306,436

4,076,920

35,307,218

4,077,702

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

48,981

59,378

Amounts owed to group undertakings

176,356

144,510

Taxation and social security

8,602,853

9,606

Accruals and deferred income

35,836

957,924

8,864,026

1,171,418

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of contracted capital commitments not included in the statement of financial position is £Nil (2023 - £1,068,620).

Guarantees

Included in cash at bank is an amount of £260,176 (2023: £259,771) held as security for the issue of a performance guarantee in favour of a third party.
 

Contingencies

The company has entered into an arrangement with the purchaser of the freehold land and intangible assets that subject to them obtaining certain additional consents further consideration of £10m is payable to the company which is not reflected in the financial statements. The company has also entered into an option agreement to repurchase the freehold land and intangible assets in certain circumstances for £20m.

9

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year or amounts falling due between undertakings where 100% of the voting rights are controlled within the group.