Sirius Renewable Energy (Investments) Li - Accounts to registrar (filleted)

REGISTERED NUMBER: 12889668 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sirius Renewable Energy (Investments)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N J Davies

P E Kane

M J Powell

S Robinson

REGISTERED OFFICE:

Russell House

Littleburn Industrial Estate

Langley Moor

Durham

DH7 8HJ

REGISTERED NUMBER:

12889668 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Investments

4

18

22

CURRENT ASSETS

Stocks

16,637

13,189

Debtors

5

1,208,363

1,299,583

Cash at bank

1,746,010

337,053

2,971,010

1,649,825

CREDITORS

Amounts falling due within one year

6

5,800

75,789

NET CURRENT ASSETS

2,965,210

1,574,036

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,965,228

1,574,058

CAPITAL AND RESERVES

Called up share capital

7

100

Share premium

567

Retained earnings

2,964,561

1,573,391

SHAREHOLDERS' FUNDS

2,965,228

1,574,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S Robinson - Director

1.	STATUTORY INFORMATION

Sirius Renewable Energy (Investments) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Turnover

Turnover comprises income from consultancy together with the disposal of shares in joint venture entities acquired with a view to develop and sell. Turnover is measured at the fair value of the consideration received or receivable excluding value added tax.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

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

Debtors and creditors receivable/ payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in associates

Investments in associates are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in
associated
undertakings

£

COST

At 1 January 2024

22

Additions

-

Disposal

(4

)

At 31 December 2024

18

NET BOOK VALUE

At 31 December 2024

18

At 31 December 2023

22

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

279,468

Amounts owed by related parties

938,582

1,005,002

Other debtors

247,956

-

Directors' current accounts

-

10,498

VAT

21,825

4,615

1,208,363

1,299,583

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed to related parties

4,800

74,787

Other creditors

-

2

Accrued expenses

1,000

5,800

75,789

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

N J Davies

Balance outstanding at start of year

3,495

-

Amounts repaid

(3,495

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

3,495

P E Kane

Balance outstanding at start of year

3,495

-

Amounts repaid

(3,495

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

3,495

M J Powell

Balance outstanding at start of year

3,495

-

Amounts repaid

(3,495

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

3,495

S Robinson

Balance outstanding at start of year

13

-

Amounts repaid

(13

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

13

The above loans were provided free of interest with no fixed repayment terms.

9.	CONTINGENT CONSIDERATION NOT RECOGNISED

On 24 December 2024, the company sold its investment in the SPV company Sirius Ecodev (California) Limited for an initial cash payment and additional contingent consideration dependent on Sirius Ecodev (California) Limited achieving certain numerous installation and commissioning targets in the future.

At the reporting date, two of the targets were known to be achieved and the related income has been accrued accordingly. The fair value of the remaining contingent consideration could not be measured reliably due to significant uncertainty surrounding Sirius Ecodev (California) Limited's future performance. Accordingly, no further asset has been recognised in this regard.

The company will reassess the fair value of the contingent consideration at each reporting date and recognise it when it becomes reliably measurable.