Silverfin false false 31/03/2025 01/04/2024 31/03/2025 A L Gordon 11/10/2010 A D Gordon 20/01/2025 11/10/2010 D W J Gordon 11/10/2010 G E Gordon 19/09/2016 15 September 2025 The principal activity of the Company during the year continues to be that of renewable energy production. SC386824 2025-03-31 SC386824 bus:Director1 2025-03-31 SC386824 bus:Director2 2025-03-31 SC386824 bus:Director3 2025-03-31 SC386824 bus:Director4 2025-03-31 SC386824 2024-03-31 SC386824 core:CurrentFinancialInstruments 2025-03-31 SC386824 core:CurrentFinancialInstruments 2024-03-31 SC386824 core:Non-currentFinancialInstruments 2025-03-31 SC386824 core:Non-currentFinancialInstruments 2024-03-31 SC386824 core:ShareCapital 2025-03-31 SC386824 core:ShareCapital 2024-03-31 SC386824 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC386824 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC386824 core:PlantMachinery 2024-03-31 SC386824 core:OtherPropertyPlantEquipment 2024-03-31 SC386824 core:PlantMachinery 2025-03-31 SC386824 core:OtherPropertyPlantEquipment 2025-03-31 SC386824 core:CostValuation 2024-03-31 SC386824 core:CostValuation 2025-03-31 SC386824 core:RemainingRelatedParties core:CurrentFinancialInstruments 2025-03-31 SC386824 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-03-31 SC386824 bus:OrdinaryShareClass1 2025-03-31 SC386824 bus:OrdinaryShareClass2 2025-03-31 SC386824 2024-04-01 2025-03-31 SC386824 bus:FilletedAccounts 2024-04-01 2025-03-31 SC386824 bus:SmallEntities 2024-04-01 2025-03-31 SC386824 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC386824 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC386824 bus:Director1 2024-04-01 2025-03-31 SC386824 bus:Director2 2024-04-01 2025-03-31 SC386824 bus:Director3 2024-04-01 2025-03-31 SC386824 bus:Director4 2024-04-01 2025-03-31 SC386824 core:PlantMachinery 2024-04-01 2025-03-31 SC386824 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 SC386824 2023-04-01 2024-03-31 SC386824 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SC386824 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC386824 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC386824 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 SC386824 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC386824 (Scotland)

# GLEN QUOICH HYDRO LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

GLEN QUOICH HYDRO LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

GLEN QUOICH HYDRO LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
GLEN QUOICH HYDRO LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,978,242 |  | 3,234,082
Investments | 4 | 300 |  | 300
|  | 2,978,542 |  | 3,234,382
Current assets |  |  |  |
Debtors | 5 | 42,210 |  | 254,193
Cash at bank and in hand |  | 718,709 |  | 346,609
|  | 760,919 |  | 600,802
Creditors: amounts falling due within one year | 6 | ( 221,425) |  | ( 305,312)
Net current assets |  | 539,494 |  | 295,490
Total assets less current liabilities |  | 3,518,036 |  | 3,529,872
Creditors: amounts falling due after more than one year | 7 | ( 219,141) |  | ( 439,141)
Provision for liabilities | 8 | ( 207,609) |  | ( 226,347)
Net assets |  | 3,091,286 |  | 2,864,384
Capital and reserves |  |  |  |
Called-up share capital | 9 | 1,800,003 |  | 1,800,003
Profit and loss account |  | 1,291,283 |  | 1,064,381
Total shareholders' funds |  | 3,091,286 |  | 2,864,384

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Glen Quoich Hydro Limited (registered number: SC386824) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

D W J Gordon Director |

GLEN QUOICH HYDRO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
GLEN QUOICH HYDRO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Glen Quoich Hydro Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The Steading, Lude, Blair Atholl, PH18 5TS, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Group accounts exemption

Group accounts exemption s399
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.

##### Turnover

Turnover represents amounts receivable for renewable energy production net of VAT and trade discounts.
Turnover is recognised when the hydro schemes generate electricity.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 15 % reducing balance
Other property, plant and equipment | 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 4

#### 3. Tangible assets

| Plant and machinery |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 122,751 |  | 5,198,123 |  | 5,320,874
Additions | 26,661 |  | 0 |  | 26,661
At 31 March 2025 | 149,412 |  | 5,198,123 |  | 5,347,535
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 66,659 |  | 2,020,133 |  | 2,086,792
Charge for the financial year | 8,414 |  | 274,087 |  | 282,501
At 31 March 2025 | 75,073 |  | 2,294,220 |  | 2,369,293
Net book value |  |  |  |  |
At 31 March 2025 | 74,339 |  | 2,903,903 |  | 2,978,242
At 31 March 2024 | 56,092 |  | 3,177,990 |  | 3,234,082

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 April 2024 | 300
At 31 March 2025 | 300
Carrying value at 31 March 2025 | 300
Carrying value at 31 March 2024 | 300

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 1,572 |  | 69,920
Amounts owed by related parties | 0 |  | 57,099
Corporation tax | 1,834 |  | 1,834
Other debtors | 38,804 |  | 125,340
| 42,210 |  | 254,193

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 7,732 |  | 173,487
Amounts owed to related parties | 2,901 |  | 0
Taxation and social security | 202,419 |  | 123,274
Other creditors | 8,373 |  | 8,551
| 221,425 |  | 305,312

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 219,141 |  | 439,141

#### 8. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 207,609 |  | 226,347

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,799,903 Ordinary shares of £ 1.00 each | 1,799,903 |  | 1,799,903
100 B ordinary shares of £ 1.00 each | 100 |  | 100
| 1,800,003 |  | 1,800,003

#### 10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

| 2025 |  | 2024
| £ |  | £
Amounts due (to) entities under common control | (222,399) |  | (439,498)
Amounts due from entities under common control | 0 |  | 57,099

The above loans are unsecured, interest free and have no fixed terms of repayment.