ACCOUNTS - Final Accounts preparation

Registered number: 15370540

NOVENTUM POWER SOLAR 15 LIMITED

AUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED
31 DECEMBER 2024

NOVENTUM POWER SOLAR 15 LIMITED

REGISTERED NUMBER: 15370540

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024
Note		£



Current liabilities
Creditors: amounts falling due within one year	5	(39,326)
Net current liabilities			(39,326)
Total assets less current liabilities			(39,326)

Net liabilities			(39,326)

Capital and reserves
Called up share capital	6	100
Profit and loss account	7	(39,426)
		(39,326)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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:

Mr A G Middleton

Director

Date: 25 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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NOVENTUM POWER SOLAR 15 LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 27 December 2023	-	-	-

Loss for the period	-	(39,426)	(39,426)
Shares issued during the period	100	-	100
At 31 December 2024	100	(39,426)	(39,326)

The notes on pages 3 to 6 form part of these financial statements.

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NOVENTUM POWER SOLAR 15 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Noventum Power Solar 15 Limited is a private company, limited by shares and incorporated in England and Wales, registration number 15370540. The registered office address is 6th Floor, 2 London Wall Place, London, United Kingdom, EC2Y 5AU.
The Company was incorporated on 27 December 2023. The financial statements cover the period of account from 27 December 2023 to 31 December 2024.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

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

The following principal accounting policies have been applied:

2.2

Compliance with accounting standards

The financial statements have been prepared using FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland. There were no material departures from that standard.

2.3

Going concern

The Company was loss making in the period and is in a net current liability and net liability position at the period end date. The financial statements have been prepared on a going concern basis which means that the Company can be expected to meet its liabilities as they fall due for a period of 12 months from the date of signing these financial statements. In assessing the appropriateness of the going concern basis of preparation the Directors have taken into account the key risks of the business as well as the Company’s business model, budgets and forecasts prepared. The Directors are satisfied that the Company is able to meet its liabilities as they fall due.
The ultimate parent company has provided a letter of support confirming its intention to provide sufficient financial support to the Company to enable it to meet its liabilities as they fall due for at least 12 months from the date of signing the financial statements.
On this basis the Directors consider it is appropriate to prepare the financial statements on a going concern basis.

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NOVENTUM POWER SOLAR 15 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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NOVENTUM POWER SOLAR 15 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make judgements, estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
Management do not consider the Company to have any key sources of estimation uncertainty nor any significant judgements or assumptions in preparing these financial statements.

Employees

The Company has no employees other than the Directors, who did not receive any remuneration.

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

	Amounts owed to group undertakings	39,326

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

6.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

During the period the Company issued 100 ordinary shares at par value.

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of all adjustments.

8.	Related party transactions
	The Company is exempt under the terms of Financial Reporting Standard 102 (FRS102) Section 33 paragraph 1A, from disclosing related party transactions with other group companies, on the grounds that the Company is wholly owned within the Group.

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NOVENTUM POWER SOLAR 15 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

9.	Controlling party

The Company's immediate parent company is Noventum Power Limited, a company incorporated in England and Wales.
The ultimate parent and controlling party is O.Y. Nofar Energy Limited, a company incorporated in Israel, registered office address 1 Hatachana Street, Manivim Building, 11th Floor, Kfar Saba, Israel.
The smallest and largest group of undertakings into which the results of the company are consolidated is headed by O.Y Nofar Energy Limited and can be obtained from its registered office address.

10.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 25 September 2025 by Mark Nelligan FCA (Senior Statutory Auditor) on behalf of Wellden Turnbull Limited.

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