Equinor Blandford Road Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 7

Equinor Blandford Road Limited

(Registration number: 11777091)
Statement of Financial Position as at 31 December 2024

	Note	Year ended 31 December 2024 £	(As restated) 9 month period ended 31 December 2023 £
Fixed assets
Tangible assets	5	18,169,787	18,133,295
Current assets
Debtors	6	987,319	426,418
Cash at bank and in hand		270,704	993,465
		1,258,023	1,419,883
Creditors: Amounts falling due within one year	7	(346,112)	(869,123)
Net current assets		911,911	550,760
Net assets		19,081,698	18,684,055
Capital and reserves
Called up share capital	8	19,000,010	19,000,010
Profit and loss account		81,688	(315,955)
Shareholders' funds		19,081,698	18,684,055

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 12 September 2025 and signed on its behalf by:
 

Vivek Mahajan Director

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

Principal activity

The principal activity of the company is the trade of provision of management and technical services relating to the production and sale of electricity.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 22 September 2025 was Adam Croney ACA, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities, where those services comprise the sale of electricity, provision of additional capacity to the National Grid and compensation receivable as a result of a system outage. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than properties under construction, over their estimated useful lives. The capitalised processing plant has been depreciated since April 2024 and so the cost balance brought forward has been transferred from properties under construction to plant and machinery to reflect that fact.

Asset class	Depreciation method and rate
Plant and machinery: Batteries	Over 15 years straight line
Other plant and machinery	Over 25 years straight line

Impairment

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Taxation

Tax charged/(credited) in the statement of comprehensive income

	Year ended 31 December 2024 £	9 month period to 31 December 2023 £
Current tax charge	-	-
Deferred tax charge	-	-
Total tax	-	-

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 25% (2023 - 25%).

The differences are reconciled below:

	Year ended 31 December 2024 £	9 month period to 31 December 2023 £
Profit/(loss) before tax	397,643	(189,547)
Corporation tax at standard rate	99,411	(47,387)
Effects of:
Utilisation of pre-trading expenses/ other tax attributes not previously recognised	(99,411)	-
Expenses for which no deferred tax is recognised	-	47,387
Total tax charge/(credit)	-	-

There has been no change to the corporation tax rates for the financial period ended 31 December 2024.
The prevailing rate of UK corporation tax for the period is therefore 25%.

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5	Tangible assets

	Properties under construction  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	18,133,295	-	18,133,295
Additions	-	862,670	862,670
Transfers	(18,133,295)	18,133,295	-
At 31 December 2024	-	18,995,965	18,995,965
Depreciation
At 1 January 2024	-	-	-
Charge for the year	-	826,178	826,178
At 31 December 2024	-	826,178	826,178
Carrying amount
At 31 December 2024	-	18,169,787	18,169,787
At 31 December 2023	18,133,295	-	18,133,295

6

Debtors

	Year ended 31 December 2024 £	(As restated) 9 month period ended 31 December 2023 £
Other debtors	40,696	360,093
Prepayments	58,265	-
Accrued income	888,358	66,325
	987,319	426,418

Equinor Blandford Road Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Year ended 31 December 2024 £	(As restated) 9 month period ended 31 December 2023 £
Due within one year
Trade creditors	22,101	764,612
Accruals	324,011	104,511
	346,112	869,123

8	Share capital

Allotted, called up and fully paid shares

	31 December 2024		31 December 2023
	No.	£	No.	£
Ordinary of £1 each	19,000,010	19,000,010	19,000,010	19,000,010

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10	Parent and ultimate parent undertaking

The immediate parent company is Equinor New Energy Limited, company number 06824625 incorporated in the UK, with a registered office of 1 Kingdom Street, London, W2 6BD.

The ultimate parent undertaking of the company is Equinor ASA (formerly Statoil ASA) incorporated in Norway. Copies of its group financial statements, which include the company, are available from Equinor ASA, 4035, Stavanger, Norway. It is also the parent undertaking of the smallest and largest group of which the company is a member and for which group financial statements are prepared.

The ultimate controlling party is the Norwegian government.