REGISTERED NUMBER: 14220579 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Fornax Energy Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A J Godsell

D Leviseur

SECRETARY:

D Leviseur

REGISTERED OFFICE:

128 City Road

London

United Kingdom

EC1V 2NX

REGISTERED NUMBER:

14220579 (England and Wales)

ACCOUNTANTS:

Dragon Argent Limited

63 Bermondsey Street

London

SE1 3XF

FIXED ASSETS

Tangible assets

4

672

5,808

CURRENT ASSETS

Debtors

5

51,096

13,268

Cash at bank

70,967

125,375

122,063

138,643

CREDITORS

Amounts falling due within one year

6

19,846

216,356

NET CURRENT ASSETS/(LIABILITIES)

102,217

(77,713

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,889

(71,905

)

CREDITORS

Amounts falling due after more than one year

7

86,748

-

NET ASSETS/(LIABILITIES)

16,141

(71,905

)

CAPITAL AND RESERVES

Called up share capital

178

167

Share premium

210,987

-

Retained earnings

(195,024

)

(72,072

)

16,141

(71,905

)

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:

D Leviseur - Director

1.	STATUTORY INFORMATION

Fornax Energy Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 12 years straight line method

Computer equipment - 2 years straight line method

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 statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance lease

Finance lease receivables are recorded on the balance sheet as a net investment in the lease, which represents the present value of future lease payments due from customers. This reflects the principal portion of the lease payments and is aligned with the cost of goods sold incurred by the company under the lease arrangements.

Although interest income is not recognised as a separate receivable on the Statement of Finacial Position, the company is contractually entitled to interest income over the term of each lease.

The total undiscounted interest income due to the company but not recognised as a balance sheet asset is £39,145.

This figure represents the difference between the total undiscounted lease payments contractually due from customers; and the discounted lease payments included in the net investment in the lease.

This interest income is recognised in the profit and loss account over the term of each lease using the effective interest method.

While the company has the right to escalate customer payments in-line with inflation in its typical customer contracts, all accounting bookings assume zero escalation in customer payments over the customer contract terms.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2024

5,944

-

5,944

Additions

-

849

849

Reclassification/transfer

(5,944

)

-

(5,944

)

At 31 December 2024

-

849

849

DEPRECIATION

At 1 January 2024

136

-

136

Charge for year

-

177

177

Reclassification/transfer

(136

)

-

(136

)

At 31 December 2024

-

177

177

NET BOOK VALUE

At 31 December 2024

-

672

672

At 31 December 2023

5,808

-

5,808

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Other debtors

2,099

-

VAT

5,056

12,911

Prepayments and accrued income

4,072

357

11,227

13,268

Amounts falling due after more than one year:

Amounts receivable in respect of finance leases

39,869

-

Aggregate amounts

51,096

13,268

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

240

-

Social security and other taxes

8,456

-

Other creditors

1,700

121,000

Directors' loan accounts

7,258

94,006

Accruals and deferred income

2,192

1,350

19,846

216,356

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Directors' loan accounts

86,748

-

8.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £94,006 (2023 £94,006) owed from the company to the directors. The loan is interest free and repayable on demand.