ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 06968542

VERDERG RENEWABLE ENERGY LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED

31 MARCH 2025

01483 755 399

hamlyns.com

VERDERG RENEWABLE ENERGY LIMITED

REGISTERED NUMBER: 06968542

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
		£		£

Fixed assets
Intangible assets	5		4,126,914		3,758,156
Tangible assets	6		40		243
			4,126,954		3,758,399
Current assets
Debtors: amounts falling due within one year	7	111,543		128,191
Bank and cash balances		70,117		26,279
		181,660		154,470
Creditors: amounts falling due within one year	8	(1,843,761)		(1,384,795)
Net current liabilities			(1,662,101)		(1,230,325)
Total assets less current liabilities			2,464,853		2,528,074
Creditors: amounts falling due after more than one year	9		(3,445)		(13,780)
Provisions for liabilities
Deferred tax	11	(519,831)		(649,788)
			(519,831)		(649,788)
Net assets			1,941,577		1,864,506

Capital and reserves
Called up share capital	12	2,461	2,461
Share premium account		2,598,000	2,598,000
Profit and loss account		(658,884)	(735,955)
		1,941,577	1,864,506

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 September 2025.

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VERDERG RENEWABLE ENERGY LIMITED

REGISTERED NUMBER: 06968542

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

___________________________

P Roberts

Director

The notes on pages 3 to 9 form part of these financial statements.

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Verderg Renewable Energy Limited is a private company, limited by shares, registered in England and Wales. The company number and registered office address is 06968542, Sundial House 98 High Street, Horsell, Woking, Surrey, GU21 4SU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have acknowledged the latest guidance on going concern and financial reporting published by the Financial Reporting Council.
The directors have prepared a business plan covering 2025 to 2031, with revenue forecast from 2025 and an annual profit first forecast in 2028. The directors have also considered the current level of cash held by the company and are confident that this together with further investment from the ultimate controlling party will be sufficient to enable the company to settle its liabilities as they fall due. Assurances have been received from the ultimate controlling party that additional funding will be made available by way of loans or share capital should this be necessary.

2.3

Revenue

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

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

Intangible fixed assets

Intangible fixed assets relate to development costs.
Included in development costs are costs incurred in developing Venturi-Enhanced Turbine Technology (VETT).
The VETT project is deemed feasible and commercially viable by the directors, who review the project annually for evidence of impairment.
Amortisation of this asset will begin once the developed product is complete, and will be amortised over a period of which the entity benefits

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both reducing balance and straight line methods.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	20%	On reducing balance
				Office equipment	-	25%	On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Critical accounting judgements and key sources of estimation uncertainty

In preparing the accounts the company is required to make estimates and assumptions that impact on the reported amounts of revenues, expenses, assets and liabilities of the company. Actual results may differ from these estimates.
Intangible fixed assets relates to the development of Venturi-Enhanced Turbine Technology. An estimate of staff time has been capitalised as part of these costs. The directors have reviewed this carrying value of this balance to see if any impairment is required, the conclusion of which is that none was required

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 6 (2024 - 6).

5.	Intangible assets

		Development expenditure
		£
	Cost
	At 1 April 2024	3,758,156
	Additions - internal	368,758
	At 31 March 2025	4,126,914

	Net book value
	At 31 March 2025	4,126,914
	At 31 March 2024	3,758,156

6.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	782	8,174	8,956
At 31 March 2025	782	8,174	8,956
Depreciation
At 1 April 2024	732	7,981	8,713
Charge for the year on owned assets	10	193	203
At 31 March 2025	742	8,174	8,916
Net book value
At 31 March 2025	40	-	40
At 31 March 2024	50	193	243

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	22,352	-
Other debtors	77,557	110,859
Prepayments and accrued income	11,634	17,332
	111,543	128,191

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	10,335	10,335
Trade creditors	28,744	72,165
Amounts owed to group undertakings	16,467	8,495
Other taxation and social security	7,567	6,212
Other creditors	1,766,419	1,273,851
Accruals and deferred income	14,229	13,737
	1,843,761	1,384,795

Within Other Creditors are Directors loans totalling £1,764,992 (see Related Party Note).

9.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	3,445	13,780
	3,445	13,780

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Amounts falling due within one year
Bank loans	10,335	10,335
	10,335	10,335
Amounts falling due 1-2 years
Bank loans	3,445	13,780
	3,445	13,780


	13,780	24,115

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(649,788)	(625,527)
Charged to the profit or loss	-	(24,261)
Utilised in year	129,957	-
At end of year	(519,831)	(649,788)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(519,831)	(649,788)
		(519,831)	(649,788)

12.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2,461 (2024 - 2,461) Ordinary shares of £1.00 each	2,461	2,461

13.	Pension commitments

The entity owed £1,417 in pension commitments as at the end of the year (2024: £1,400).

14.	Related party transactions
	A balance of £1,764,992 (2024: £1,266,500) was owed by the company to the directors..

15.	Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.

16.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 15 September 2025 by Oliver Spevack ACA FCCA (Senior Statutory Auditor) on behalf of Hamlyns Limited.

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VERDERG RENEWABLE ENERGY LIMITED

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