REGISTERED NUMBER: 03545697 (England and Wales)

Financial Statements

for the year ended

31 March 2025

for

Cwmni Gwynt Teg Cyf

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C J Tanner

Mr M Ma

Mr J P Hardy

SECRETARY:

Moelogan 2 (O&M) Cyfyngedig

REGISTERED OFFICE:

Cae Sgubor

Ffordd Pennant

Eglwysbach

Conwy

LL28 5UN

REGISTERED NUMBER:

03545697 (England and Wales)

AUDITORS:

Azets Audit Services

Statutory Auditors

Chartered Accountants

First Floor

Unit 55 Ffordd William Morgan

St Asaph Business Park

St Asaph

Denbighshire

LL17 0JG

ACCOUNTANTS:

Powell Chartered Accountants

Market Street

Ruthin

Denbighshire

LL15 1AU

FIXED ASSETS

Tangible assets

4

2,982,000

3,244,000

CURRENT ASSETS

Debtors

5

219,799

210,661

Cash at bank

235,300

614,160

455,099

824,821

CREDITORS

Amounts falling due within one year

6

123,173

775,928

NET CURRENT ASSETS

331,926

48,893

TOTAL ASSETS LESS CURRENT LIABILITIES

3,313,926

3,292,893

PROVISIONS FOR LIABILITIES

7

743,002

807,954

NET ASSETS

2,570,924

2,484,939

CAPITAL AND RESERVES

Called up share capital

30

30

Revaluation reserve

8

2,126,522

2,323,022

Retained earnings

444,372

161,887

SHAREHOLDERS' FUNDS

2,570,924

2,484,939

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:

Mr J P Hardy - Director

1.	STATUTORY INFORMATION

Cwmni Gwynt Teg Cyf 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 as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of twelve months after the date on which the annual report and financial statements are signed. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

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

On 31 March 2021 the accounting policy for plant and machinery was changed from depreciated cost (straight line over 20 years) to fair value measurement, resulting in the creation of the revaluation reserve and consequential adjustment to the deferred tax provision. Annual impairment reviews are carried out in lieu of a fixed depreciation charge. The most recent impairment review was carried out on 31 March 2025, further details of the valuation can be found in the 'Tangible Fixed Assets' note overleaf.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2024

3,244,000

Impairments

(262,000

)

At 31 March 2025

2,982,000

NET BOOK VALUE

At 31 March 2025

2,982,000

At 31 March 2024

3,244,000

Cost or valuation at 31 March 2025 is represented by:

Plant and

machinery

etc

£

Valuation in 2021

4,231,000

Valuation in 2024

(987,000

)

Valuation in 2025

(262,000

)

2,982,000

If plant and machinery had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

1,978,752

1,978,752

Aggregate depreciation

1,832,115

1,832,115

Plant and machinery was valued on an open market basis basis on 31 March 2025 by Foresight Group .

Historically, plant and machinery had been recognised at cost less accumulated depreciation (straight line over 20 years). On 31 March 2021 the accounting policy was changed to fair value measurement. An impairment of the wind turbines' value was considered appropriate on 31 March 2025, the valuation and impairment adjustment are shown above.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accrued income

216,580

191,086

Prepayments

3,219

19,575

219,799

210,661

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

837

35,001

Tax

5,124

555,827

VAT

53,428

122,563

Accrued expenses

63,784

62,537

123,173

775,928

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

743,002

807,954

Deferred

tax

£

Balance at 1 April 2024

807,954

Provided during year

548

Adj. relating to revaluation

(65,500

)

Balance at 31 March 2025

743,002

8.

RESERVES

Revaluation

reserve

£

At 1 April 2024

2,323,022

Impairment of plant and

machinery

(262,000

)

Deferred tax movement on

revalued assets

65,500

At 31 March 2025

2,126,522

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Ward (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

10.	RELATED PARTY DISCLOSURES

CGT Investments Limited (the immediate parent company) surrendered a tax loss to Cwmni Gwynt Teg Cyf during the year. The loss arose from interest payments on a loan to CGT Investments Limited from its immediate parent company, Foresight Environmental Infrastructure (UK) Limited (previously called JLEN Environmental Assets Group (UK) Limited).

11.	ULTIMATE PARENT COMPANY

Cwmni Gwynt Teg Cyf is a wholly owned subsidiary of CGT Investments Limited, which in turn is a wholly owned subsidiary of Foresight Environmental Infrastructure (UK) Limited (previously called JLEN Environmental Assets Group (UK) Limited) whose parent company is Foresight Environmental Infrastructure Limited (previously called JLEN Environmental Assets Group Limited).

The ultimate controlling entity is Foresight Environmental Infrastructure Limited (JLEN Environmental Assets Group Limited), a limited corporate entity incorporated in Guernsey, Channel Islands. The registered address of Foresight Environmental Infrastructure Limited is 1 Royal Plaza Royal Avenue, St Peter Port, Guernsey, GY1 2HL.