Company No: SC381632 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	809,870		917,784
		809,870		917,784
Current assets
Debtors	4	305,199		310,842
Cash at bank and in hand		1,441,192		1,465,951
		1,746,391		1,776,793
Creditors: amounts falling due within one year	5	( 157,289)		( 400,329)
Net current assets		1,589,102		1,376,464
Total assets less current liabilities		2,398,972		2,294,248
Provision for liabilities	6	( 185,195)		( 204,617)
Net assets		2,213,777		2,089,631
Capital and reserves
Called-up share capital	7	1,000		1,000
Profit and loss account		2,212,777		2,088,631
Total shareholder's funds		2,213,777		2,089,631

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Ednie Wind Energy Limited (registered number: SC381632) were approved and authorised for issue by the Board of Directors on 12 September 2025. They were signed on its behalf by:

Dr Elaine Janet Booth Director

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

Ednie Wind Energy 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 C/O Johnston Carmichael Axis Business Centre, Thainstone Business Centre, Inverurie, AB51 5TB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover represents amounts invoiced for renewable energy generated net of VAT and is recognised on generation of electricity. Income is recognised on an accruals basis where it is capable of being reliably measured. Where no reliable estimate is possible, income is recognised on a receipt basis.

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

Leasehold improvements	20 years straight line
Plant and machinery	20 years straight line
Computer equipment	25 % reducing balance

Included within wind turbines are assets under construction and a decommissioning provision that are not depreciated.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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 measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

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 creditors and bank loans, 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 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 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.

Decommissioning provision

The net present value of the cost of decommissioning the windfarm at the end of its useful economic life has been recognised in the accounts as an additional tangible asset cost and associated provision.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2024	26,062		2,191,098		209		2,217,369
At 31 December 2024	26,062		2,191,098		209		2,217,369
Accumulated depreciation
At 01 January 2024	11,442		1,287,944		199		1,299,585
Charge for the financial year	1,303		106,609		2		107,914
	0		0		0		0
At 31 December 2024	12,745		1,394,553		201		1,407,499
Net book value
At 31 December 2024	13,317		796,545		8		809,870
At 31 December 2023	14,620		903,154		10		917,784

Included in the net book value of fixed assets are capitalised interest costs of £11,431 (2023 - £13,084)

4. Debtors

	2024		2023
	£		£
Trade debtors	5,103		92,421
Amounts owed by Group undertakings	14,781		17,731
Corporation tax	17,197		0
Other debtors	268,118		200,690
	305,199		310,842

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	51,261		27,073
Corporation tax	78,893		168,041
Other taxation and social security	1,292		19,760
Other creditors	25,843		185,455
	157,289		400,329

6. Provision for liabilities

	2024		2023
	£		£
Deferred tax	150,673		170,095
Other provisions	34,522		34,522
	185,195		204,617

As a result of the company's investment in wind turbines, there is an obligation to decommission the windfarm at the end of its useful life. The company has recognised £34,522 on the decommissioning of the operations, which represents the net present value of anticipated future costs as at 31 December 2024. While it is expected a market for expired assets will exist, the provision cannot, and does not anticipate any associated future income.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

8. Financial commitments

Other financial commitments

	2024		2023
	£		£
Within one year	21,460		21,460
Between two and five years	91,477		89,615
In over five years	162,615		185,937
	275,552		297,012

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as above. The operating lease disclosed above relates to the land on which the turbines are situated.

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts due to/(from) directors	(130,910)		129,543

During the year to 31 December 2024, the directors were advanced £187,621 by the company and repaid £72,877 to the company.

Interest is payable on the loans when they become overdrawn and they have no fixed repayment terms.

Other related party transactions

	2024		2023
	£		£
Lease of land on which turbines are situated	21,458		21,458

The land on which the turbines are situated is leased from an unincorporated business with which the directors have a direct family member.

Included in creditors at the year end is a loan of £20,232 (2023 - £20,232) due to an unincorporated business in which the directors are both partners.

The company has taken advantage of the exemption available in accordance with section 33 of FRS 102 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

10. Ultimate controlling party

Parent Company:

Bruxie Wind Energy Limited

Ednie House St Fergus Peterhead AB42 3BU