ACCOUNTS - Final Accounts preparation

Registered number: SC381346

ADD ENERGY SCOTLAND LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024


ADD ENERGY SCOTLAND LIMITED

CONTENTS

	Page
Directors' responsibilities statement	1
Balance sheet	2
Notes to the financial statements	3 - 6


ADD ENERGY SCOTLAND LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent; and

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ADD ENERGY SCOTLAND LIMITED REGISTERED NUMBER:SC381346

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		125,655		125,655
			125,655		125,655

Creditors: amounts falling due within one year	5	(192,135)		(217,475)
Net current liabilities			(192,135)		(217,475)
Total assets less current liabilities			(66,480)		(91,820)
Creditors: amounts falling due after more than one year	6		(3,750)		(3,750)

Net liabilities			(70,230)		(95,570)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(70,330)	(95,670)
	(70,230)	(95,570)

The company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A J Perrett

Director

Date: 25 September 2025

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ADD ENERGY SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by shares and is incorporated in Scotland. The address of its registered office is 28 Albyn Place, Aberdeen, United Kingdom, AB10 1YL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

2.2

Financial reporting standard 101 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions under FRS 101:

∙the requirements of IFRS 7 Financial Instruments: Disclosures

∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers

∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements

∙the requirements of IAS 7 Statement of Cash Flows

∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member

This information is included in the consolidated financial statements of Add Energy Group AS as at 31 December 2024 and these financial statements may be obtained from Nordbogaten 4, 4006 Stavanger, Norway.

2.3

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

2.4

Going concern

The directors, having made due and careful enquiry and preparing forecasts, are of the opinion that the company has adequate working capital to execute its operations for at least a period of 12 months following the date of approval of these financial statements.
As a result of amounts owed to group undertakings, the company had net liabilities of £70,230 (2023 - £95,570) directors have confirmed that these group balances will not be recalled at the detriment of the company being able to continue in operation existence. The directors are of the opinion that the balances due can and will be cleared from capital distributions from the subsidiary to which the balance is owed. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

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ADD ENERGY SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.8

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

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ADD ENERGY SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Directors	2	2

4.	Fixed asset investments

		Investments in associates
		£
	Cost or valuation
	At 1 January 2024	125,655
	At 31 December 2024	125,655

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

	Amounts owed to group undertakings	192,135	217,475

Amounts owed to group undertakings are interest free and repayable on demand. As explained in note 2.4, these balances will not be recalled at the detriment of the company.

6.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Other creditors	3,750	3,750

7.	Related party transactions
	The company has taken advantage of the Financial Reporting Standard 101 `Reduced disclsoure framework` which allows exemption from disclosure of related party transactions with other group companies.

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ADD ENERGY SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Controlling party

The ultimate parent company undertaking is ABL Group ASA, a limited company registered in Norway, which owns 100% of the ordinary shares and A ordinary shares in Add Latent Limited which is the company's immediate parent company and owns 100% of the ordinary shares in the company. Add Energy Group AS is also the parent undertaking consolidating the financial statements as at 31 December 2024. Copies of Add Energy Group AS financial statements can be obtained from Nordbogaten 4, 4006 Stavanger, Norway.

9.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 25 September 2025 by James Pirrie (Senior statutory auditor) on behalf of Anderson Anderson & Brown Audit LLP.

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