REGISTERED NUMBER: SC403273 (Scotland)

Audited Financial Statements

for the Period 1 April 2024 to 31 December 2024

for

Ben Mor Hydro Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

1,974,817

2,010,073

CURRENT ASSETS

Debtors

5

67,331

53,191

Cash at bank

187,473

570,008

254,804

623,199

CREDITORS

Amounts falling due within one year

6

(201,108

)

(327,006

)

NET CURRENT ASSETS

53,696

296,193

TOTAL ASSETS LESS CURRENT LIABILITIES

2,028,513

2,306,266

CREDITORS

Amounts falling due after more than one year

7

(1,683,148

)

(1,746,396

)

PROVISIONS FOR LIABILITIES

(161,303

)

(154,132

)

NET ASSETS

184,062

405,738

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

183,960

405,636

184,062

405,738

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

Mr A W Lyle - Director

1.	STATUTORY INFORMATION

Ben Mor Hydro Limited is a private company, limited by shares, domiciled in Scotland, registration number SC403273. The registered office is 4 West Silvermills Lane, Stockbridge, Edinburgh, Scotland, EH3 5BD.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of electricity excluding value added tax. Sales are recognised at the point at which the electricity is provided.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

2% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 December 2024

2,350,384

DEPRECIATION

At 1 April 2024

340,311

Charge for period

35,256

At 31 December 2024

375,567

NET BOOK VALUE

At 31 December 2024

1,974,817

At 31 March 2024

2,010,073

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

£

Other debtors

67,331

53,191

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

£

Trade creditors

5,913

22,115

Amounts owed to group undertakings

58,249

81,107

Amounts owed to related parties

5,743

8,860

Taxation and social security

2,716

39,039

Other creditors

128,487

175,885

201,108

327,006

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.3.24

£

£

Amounts owed to group undertakings

437,679

452,888

Amounts owed to related parties

60,766

63,280

Other creditors

1,184,703

1,230,228

1,683,148

1,746,396

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

735,295

813,039

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.3.24

£

£

Other loans

1,300,406

1,394,087

In relation to the hydro scheme facility agreement, Close Leasing Limited hold a number of securities over the company's assets, contracts and property interests.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Clinton (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

10.	ULTIMATE PARENT ENTITY

Locogen Limited is registered in Scotland under registration number SC370060. The registered office is 4 West Silvermills Lane, Edinburgh, Scotland, EH3 5BD.