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ACHAIRN ENERGY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024






ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACHAIRN ENERGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: S L G Watson
J Innes
R M Thomas





REGISTERED OFFICE: Suite 2/3
75 Bothwell Street
Glasgow
G2 6TS





REGISTERED NUMBER: SC312734 (Scotland)





AUDITORS: JRW Hogg & Thorburn LLP
Chartered Accountants &
Statutory Auditor
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL

ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,363,941 2,834,436

CURRENT ASSETS
Debtors 5 829,223 1,125,773
Cash at bank 336,391 663,161
1,165,614 1,788,934
CREDITORS
Amounts falling due within one year 6 691,969 937,102
NET CURRENT ASSETS 473,645 851,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,837,586

3,686,268

CREDITORS
Amounts falling due after more than one
year

7

(316,150

)

(421,533

)

PROVISIONS FOR LIABILITIES 9 (686,498 ) (846,881 )
NET ASSETS 1,834,938 2,417,854

CAPITAL AND RESERVES
Called up share capital 470 470
Retained earnings 1,834,468 2,417,384
1,834,938 2,417,854

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2025 and were signed on its behalf by:





S L G Watson - Director


ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Achairn Energy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Going Concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.
Land and buildings - Straight line over 20 years

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially 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. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Non basic financial liabilities
The company purchases interest rate swaps to manage interest rate risk volatility. The fair value of these has been calculated by discounting the expected future cash flows at prevailing interest rates. Movements in fair value are taken to the Income Statement.


ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
The company's functional currency is considered to be sterling (£) due to the primary economic environment in which it operates. The company's financial statements are also presented in sterling.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Wind farm
development
£   
COST
At 1st January 2024
and 31st December 2024 9,683,845
DEPRECIATION
At 1st January 2024 6,849,409
Charge for year 470,495
At 31st December 2024 7,319,904
NET BOOK VALUE
At 31st December 2024 2,363,941
At 31st December 2023 2,834,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 195,414 228,756
Prepayments and accrued income 633,809 897,017
829,223 1,125,773

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 8) 119,572 124,461
Trade creditors 41,818 16,588
Corporation tax 223,357 440,000
VAT 76,184 81,840
Accruals and deferred income 231,038 274,213
691,969 937,102

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans (see note 8) 316,150 421,533

ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans less than 1 year 119,572 124,461

Amounts falling due between one and two years:
Other loans - 1-2 years 105,385 105,384

Amounts falling due between two and five years:
Other loans - 2-5 years 210,765 316,149

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 328,629 512,580
Decommissioning costs 357,869 334,301
686,498 846,881

Deferred
tax
£   
Balance at 1st January 2024 512,580
Accelerated capital allowances (94,483 )
Rounding differences (89,468 )
Balance at 31st December 2024 328,629

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Gibson (Senior Statutory Auditor)
for and on behalf of JRW Hogg & Thorburn LLP

ACHAIRN ENERGY LIMITED (REGISTERED NUMBER: SC312734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

11. RELATED PARTY DISCLOSURES

TORES 1 Limited is a related party by virtue of its 74.47% shareholding in the company. At 31st December 2024, there was a loan balance payable to TORES 1 Limited of £435,721 (2023, £545,994). There was interest totalling £62,875 charged on this loan during the year (2023, £83,434).

Directors fees are also paid to Temporis Capital Limited, a company with common control as TORES 1 Limited, in relation to services provided by Mr S Watson and Mr M Hubbard. For the year ended 31st December 2024, these fees, including recharges, totalled £15,435 (2023, £12,419). Further fees of £29,181 were paid to Thalia Power Limited, a subsidiary of Temporis Capital Limited, in respect of administration fees (2023, £26,870).

Innes Electrical, a business which Mr J Innes is proprietor of, provides management services to the company. These totalled £41,238 for the year ended 31st December 2024 (2023, £18,589). A further £3,344 was due to Mr J Innes in respect of directors fees (2023, £3,620).

The company lease land from Mr D Innes, father of Mr J Innes (director). Rental invoices during the year ended 31st December 2024 totalled £51,171 (2023, £46,355). Accrued rental payments at 31st December 2024 totalled £19,039 (2023, £18,233).