Dart Renewables Ltd

Contents

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

Dart Renewables Ltd

(Registration number: 07098258)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,894,224	1,854,908
Current assets
Debtors	5	1,206,604	907,446
Cash at bank and in hand		45,624	30,211
		1,252,228	937,657
Creditors: Amounts falling due within one year	6	(1,388,065)	(869,283)
Net current (liabilities)/assets		(135,837)	68,374
Total assets less current liabilities		1,758,387	1,923,282
Creditors: Amounts falling due after more than one year	6	(688,219)	(911,186)
Provisions for liabilities		(207,298)	(179,756)
Net assets		862,870	832,340
Capital and reserves
Called up share capital		161	161
Share premium reserve		554,440	554,440
Profit and loss account		308,269	277,739
Shareholders' funds		862,870	832,340

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 29 September 2025 and signed on its behalf by:
 

Mr D R Mann Director

Dart Renewables Ltd

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
Unit 1A Webbers Way
Dartington
TQ9 6JY
United Kingdom

Principal activity

The principal activity of the company is running a hydro-power station.

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.

Dart Renewables Ltd

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

2	Accounting policies (continued)

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 sale of goods and provision of services in the ordinary course of the company’s activities. 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	60 years straight line
Plant & machinery	50 or 60 years straight line and 25% reducing balance

Impairment

Dart Renewables Ltd

Notes to the Unaudited 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 4 (2023 - 4).

Dart Renewables Ltd

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

4	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	183,090	2,132,519	2,315,609
Additions	-	79,996	79,996
At 31 December 2024	183,090	2,212,515	2,395,605
Depreciation
At 1 January 2024	13,078	447,623	460,701
Charge for the year	1,635	39,045	40,680
At 31 December 2024	14,713	486,668	501,381
Carrying amount
At 31 December 2024	168,377	1,725,847	1,894,224
At 31 December 2023	170,012	1,684,896	1,854,908

Included within the net book value of land and buildings above is £168,376 (2023 - £170,011) in respect of freehold land and buildings.
 

5

Debtors

	Note	2024 £	2023 £
Trade debtors		23,865	15,040
Amounts owed by related parties	9	972,826	691,124
Other debtors		39,103	28,294
Prepayments		170,810	172,988
		1,206,604	907,446
Less non-current portion		(14,131)	(21,196)
		1,192,473	886,250

Dart Renewables Ltd

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

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	543,625	443,625
Trade creditors		126,034	10,093
Amounts owed to related parties	9	438,400	238,900
Taxation and social security		-	1,176
Accruals and deferred income		58,303	65,800
Other creditors		221,703	109,689
		1,388,065	869,283

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	671,500	894,467
Other financial liabilities		16,719	16,719
		688,219	911,186

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Dart Renewables Ltd

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

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	671,500	894,467

Current loans and borrowings

	2024 £	2023 £
Other borrowings	543,625	443,625

Other borrowings

Triodos Bond is denominated in £ with a nominal interest rate of (inflation linked) 5%, and the final instalment is due on 31 May 2028. The carrying amount at year end is £895,125 (2023 - £1,118,092). The bond is secured on the company's assets.

Loans from individuals is denominated in £ with a nominal interest rate of variable%. The carrying amount at year end is £320,000 (2023 - £220,000).

9	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Repayments by director £	At 31 December 2024 £
Loan from directors	24,967	100,000	124,967

2023	At 1 January 2023 £	Repayments by director £	At 31 December 2023 £
Loan from directors	(33)	25,000	24,967