Company registration number 13048646 (England and Wales)
VENTUS ENERGY HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
VENTUS ENERGY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
VENTUS ENERGY HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
81,784
55,502
Current assets
Debtors falling due after more than one year
5
1,654,056
2,658,058
Debtors falling due within one year
5
51
100
Cash at bank and in hand
445
45,795
1,654,552
2,703,953
Creditors: amounts falling due within one year
6
(150,728)
(188,695)
Net current assets
1,503,824
2,515,258
Total assets less current liabilities
1,585,608
2,570,760
Creditors: amounts falling due after more than one year
7
(1,285,508)
(2,270,660)
Net assets
300,100
300,100
Capital and reserves
Called up share capital
250
250
Share premium account
299,850
299,850
Total equity
300,100
300,100

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
L Nutter
Director
Company Registration No. 13048646
VENTUS ENERGY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Ventus Energy Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Mercury Court, Orion Business Park, North Shields, United Kingdom, NE29 7SN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

The company is financed by loans from fellow group undertakings which provide its day to day working capital. The directors consider that facilities currently in place are sufficient to support the working capital requirements of the business for at least the next 12 months.

 

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

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

VENTUS ENERGY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no judgements or key estimates in the current year.

VENTUS ENERGY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
81,784
55,502
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
55,502
Additions
26,282
At 31 December 2024
81,784
Carrying amount
At 31 December 2024
81,784
At 31 December 2023
55,502

During the year, the company acquired two subsidiary, Ventus Energy GmbH and Ventus Energy Inc.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
51
100
VENTUS ENERGY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Debtors
(Continued)
- 5 -
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
1,654,056
2,658,058
Total debtors
1,654,107
2,658,158
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
150,728
188,695
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,285,508
2,270,660

Included in other creditors are loans of £1,285,508 (2023 - £2,270,660) due to fellow group undertakings. These are unsecured and interest bearing and disclosed as falling due in greater than one year as at least a year’s notice must be given for any repayment.

 

 

 

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jonathan Ward
Statutory Auditor:
Azets Audit Services
9
Related party transactions
VENTUS ENERGY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Related party transactions
(Continued)
- 6 -

At the balance sheet date the company owed £1,285,508 (2023 - £2,270,660) to fellow group undertakings, as outlined above.

 

During the year the company was charged interest by fellow group undertakings of £147,096 (2023 - £188,695). This interest remained accrued at the balance sheet date and is included within creditors falling due within one year.

 

During the year the company recharged interest and insurance to group undertakings of £147,647 (2023 - £188,695).

 

During the year the company's directors advanced funds to the company. These amounts were unsecured, bore no interest and had no set repayment date. At the balance sheet date amounts totalling £90 were due to (2023 - £100 due from) the company's directors, which is disclosed within creditors falling due within one year.

 

The company has taken advantage of the exemption for disclosing details of related party transactions with its wholly owned subsidiaries.

10
Parent company

The parent company continues to be RTS Wind Group GmbH (DE), a company incorporated in Germany.

 

The ultimate controlling party is Topp Holdings AG (CH) by virtue of its ownership of Topp Holdings AG (CH), through its wholly owned subsidiary, Topp Holdings GmbH (DE) and its wholly owned subsidiary, RTS Wind Group GmbH (DE).

 

 

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