REGISTERED NUMBER: SC689066 (Scotland)

Audited Financial Statements for the Year Ended 31 December 2024

for

Glenwhan Wind Farm Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

-

119,700

CURRENT ASSETS

Debtors

5

468

184

Cash at bank

412

18,808

880

18,992

CREDITORS

Amounts falling due within one year

6

(4,716

)

(92,595

)

NET CURRENT LIABILITIES

(3,836

)

(73,603

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,836

)

46,097

CREDITORS

Amounts falling due after more than one year

7

(56,072

)

(52,160

)

NET LIABILITIES

(59,908

)

(6,063

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(59,909

)

(6,064

)

(59,908

)

(6,063

)

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

Glenwhan Wind Farm Limited is a private company limited by shares incorporated in Scotland, registration number SC689066. The registered office is c/o Locogen Limited, 4 West Silvermills Lane, 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.

Intangible assets

Costs incurred in respect of the development phase of a project are recognised as an intangible asset, when certain specific criteria are met in order to demonstrate that the asset will generate probable future economic benefits and that its cost can be reliably measured. Once the project is in construction phase, the development costs are transferred to tangible assets. Assets in the course of development are not amortised.

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Taxation

Taxation for the year 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 year 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 year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

119,700

Additions

3,912

Impairments

(123,612

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

119,700

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

468

184

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

54

47,475

Amounts owed to group undertakings

1

42,460

Other creditors

4,661

2,660

4,716

92,595

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

56,072

52,160

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

56,072

52,160

8.	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

9.	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.