TERRAVESTA LIMITED


Director	Mr W Cracroft-Eley


Registered Address	12 Tentercroft Street
	Lincoln
	LN5 7DB


Place of Business	Unit 4
	Riverside Enterprise Park
	Saxilby
	Lincoln
	LN1 5AB


Registered Number	07793758 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

	Basis of preparation
	These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Borrowing costs
	Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Investments
	Business combinations Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. Investments Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable

Investments

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends on equity securities are recognised in income when receivable

	Trade and other debtors
	Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

	Trade and other creditors
	Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Fixed asset investments
	Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows: Terravesta Management Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the management of central costs. Terravesta Assured Energy Crops Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel. Terravesta Products Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel. Terravesta Energy Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel. Terravesta Farms Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the planting of miscanthus for bio fuel. The registered office for all of the above subsidiaries is 12 Tentercroft Street, Lincoln LN5 7DB.

Fixed asset investments

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Terravesta Management Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the management of central costs. 
Terravesta Assured Energy Crops Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel.
Terravesta Products Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel.
Terravesta Energy Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the sale of bio fuel.
Terravesta Farms Limited - 100% voting rights and shares held in both 2023 and 2022, principal activity is the planting of miscanthus for bio fuel.

The registered office for all of the above subsidiaries is 12 Tentercroft Street, Lincoln LN5 7DB.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 24	500	500
At 31 December 24	500	500
Net book value
At 31 December 24	500	500
At 31 December 23	500	500

	Notes
	¹Investments in group undertakings and participating interests

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Amounts owed by group undertakings	391,640	386,950
Other debtors	12,765	12,765
Total	404,405	399,715

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Other creditors	300,000	300,315
Total	300,000	300,315

6.	Parent-subsidiary relationships
	The company's immediate parent is Terravesta Holdings Limited, incorporated in England.

7.	Further information regarding the company's financial position
	Going Concern Management have concluded that material uncertainties exist in regard to the going concern of the group controlling this company. The material uncertainty has a direct effect on the going concern of the individual companies of the group and the ability to continue trading. In previous years the group and its subsidiaries have relied on working capital and cash funding from third party funders and direct shareholder or director loans. The material uncertainty has arisen over whether this method of funding will continue into the future. The future of this group and subsidiaries is heavily reliant on the continued support of its third party funders and directors or shareholders funds.

Further information regarding the company's financial position

Going Concern
Management have concluded that material uncertainties exist in regard to the going concern of the group controlling this company. The material uncertainty has a direct effect on the going concern of the individual companies of the group and the ability to continue trading. 
In previous years the group and its subsidiaries have relied on working capital and cash funding from third party funders and direct shareholder or director loans. The material uncertainty has arisen over whether this method of funding will continue into the future. The future of this group and subsidiaries is heavily reliant on the continued support of its third party funders and directors or shareholders funds.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Investments	3		500		500
			500		500
Current assets
Debtors	4	404,405		399,715
Cash at bank and on hand		-		5,005
		404,405		404,720
Creditors amounts falling due within one year	5	(300,000)		(300,315)
Net current assets (liabilities)			104,405		104,405
Total assets less current liabilities			104,905		104,905
Net assets			104,905		104,905
Capital and reserves
Called up share capital			105,005		105,005
Profit and loss account			(100)		(100)
Shareholders' funds			104,905		104,905