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Registered number: 10186928 GNEISS ENERGY LIMITED INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
GNEISS ENERGY LIMITED REGISTERED NUMBER:10186928
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 29,976 |  | 14,705
Tangible assets | 5 |  | 663,730 |  | 655,806
|  |  | 693,706 |  | 670,511
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 3,778,071 |  | 2,603,540 |
Current asset investments | 7 | 1,038,921 |  | 437,555 |
Cash at bank and in hand | 8 | 309,212 |  | 301,214 |
|  | 5,126,204 |  | 3,342,309 |
Creditors: amounts falling due within one year | 9 | (516,817) |  | (556,286) |
Net current assets |  |  | 4,609,387 |  | 2,786,023
Total assets less current liabilities |  |  | 5,303,093 |  | 3,456,534
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (101,565) |  | (90,694) |
|  |  | (101,565) |  | (90,694)
Net assets |  |  | 5,201,528 |  | 3,365,840
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 5,201,526 |  | 3,365,838
|  |  | 5,201,528 |  | 3,365,840
Page 1
GNEISS ENERGY LIMITED REGISTERED NUMBER:10186928
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 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 statement of comprehensive income 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 by:
C A Fitzpatrick
Director
Date: 25 July 2025
The notes on pages 3 to 10 form part of these financial statements. Page 2
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Gneiss Energy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 64 North Row, Mayfair, London, W1K 7DA. The principal activity of the company continued to be that of the provision of advisory, interim management and principal investing services. 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 judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
At 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 has enjoyed a successful period of post year end trading and the directors are positive about the future outlook. Fixed monthly revenue is in place by way of retainer income. On this basis, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency 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 £. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Page 3
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Rendering of services Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Interest Income
Interest income is recognised in the statement of comprehensive income using the effective interest method.
| 2.7 | 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.
| 2.8 | 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. Page 4
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | 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.
| 2.10 | 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. The estimated useful lives range as follows:
|  |  |  | Website | - | 5 | years straight line
Page 5
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.11 | 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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Tenants improvements | - | 10 years straight line
|  |  |  | Office equipment | - | 3 years straight line
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.
| 2.12 | 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.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | 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.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially Page 6
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially Page 7
GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.16 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 19 (2024 - 21).
4. | Intangible assets
|  | Website
|  | £
| Cost |
| At 1 April 2024 | 22,895
| Additions | 19,850
| At 31 March 2025 | 42,745
| Amortisation |
| At 1 April 2024 | 8,190
| Charge for the year on owned assets | 4,579
| At 31 March 2025 | 12,769
| Net book value |
| At 31 March 2025 | 29,976
| At 31 March 2024 | 14,705
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GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 377,865 | 423,096 | 189,996 | 990,957
| Additions | 35,411 | 88,779 | 24,271 | 148,461
| Disposals | - | - | (32,195) | (32,195)
| At 31 March 2025 | 413,276 | 511,875 | 182,072 | 1,107,223
| Depreciation |  |  |  |
| At 1 April 2024 | 127,352 | 43,511 | 164,288 | 335,151
| Charge for the year on owned assets | 72,784 | 44,390 | 23,363 | 140,537
| Disposals | - | - | (32,195) | (32,195)
| At 31 March 2025 | 200,136 | 87,901 | 155,456 | 443,493
| Net book value |  |  |  |
| At 31 March 2025 | 213,140 | 423,974 | 26,616 | 663,730
| At 31 March 2024 | 250,513 | 379,585 | 25,708 | 655,806
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,030,305 | 988,696
| Other debtors | 1,900,101 | 1,001,178
| Prepayments and accrued income | 847,665 | 578,795
| Tax recoverable | - | 34,871
|  | 3,778,071 | 2,603,540
7. | Current asset investments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other investments | 1,038,921 | 437,555
|  | 1,038,921 | 437,555
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GNEISS ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 309,212 | 301,214
|  | 309,212 | 301,214
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 51,789 | 200,606
| Corporation tax | 274,059 | -
| Other taxation and social security | 74,872 | 41,213
| Other creditors | 17,222 | 8,766
| Accruals and deferred income | 98,875 | 305,701
|  | 516,817 | 556,286
10. | Related party transactions
| Included within other debtors are amounts due by directors of £340,000 (2024 - £nil). There are no set repayment terms, and no interest is payable on these amounts. During the period, advances of £1,131,808 were made to a company under common control and repayments of £462,323 were received, resulting in a balance due to the company of £1,539,485 (2024 - £870,000).
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 25 July 2025 by Stuart Rose (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.
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