REGISTERED NUMBER: 07465305 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Ignis Biomass Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Scott

Mrs C Phillips

REGISTERED OFFICE:

Office 206/207 Merlin House

Brunel Road

Theale

Reading

RG7 4AB

REGISTERED NUMBER:

07465305 (England and Wales)

AUDITORS:

Willsons (Higham Ferrers) Ltd

Chartered Accountants

Statutory Auditors

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

FIXED ASSETS

Investments

4

106

106

CURRENT ASSETS

Debtors

5

10,034,703

9,391,883

Cash at bank

598

685

10,035,301

9,392,568

CREDITORS

Amounts falling due within one year

6

3,099

8,386

NET CURRENT ASSETS

10,032,202

9,384,182

TOTAL ASSETS LESS CURRENT LIABILITIES

10,032,308

9,384,288

CREDITORS

Amounts falling due after more than one year

7

13,760,817

12,869,414

NET LIABILITIES

(3,728,509

)

(3,485,126

)

CAPITAL AND RESERVES

Called up share capital

1,200,100

1,200,100

Retained earnings

8

(4,928,609

)

(4,685,226

)

SHAREHOLDERS' FUNDS

(3,728,509

)

(3,485,126

)

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 30 September 2025 and were signed on its behalf by:

Mrs C Phillips - Director

1.	STATUTORY INFORMATION

Ignis Biomass 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Ignis Biomass Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Judgements made by the Directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below.

The preparation of financial statements management are required to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based upon historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily available from other sources. 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 if the revision affects only the period or in the period of revision and future periods if the revision affects both current and future periods.

Management consider the following to be a significant accounting policy or a key source of estimation uncertainty for the preparation of the financial statements:

Going concern

The company is in a net liability position and relies on the support of its group and ultimate parent entities to meet its liabilities as they fall due through group loans and the discretion to defer any payment of the group loan interest if it has insufficient funds available.

The company's main concerns are attributable to the operation of its underlying trading company, ensuring that profit and cash flows are maintained for the eventual recovery of the company's own intra group loan and to meet the terms of the groups lending agreements.

Until the subsidiary trading company results improve the company relies on such continued support of its group. The directors have made enquiries of these group entities, and they have indicated that they will continue to provide such support as needed.

On this basis the directors believe that the company will have adequate resources to continue in operational existence and meet its obligations as they fall due for a period of at least twelve months from the date of signing the financial statements. Therefore, the directors consider it appropriate to continue to prepare the financial statements as a going concern

Recoverability of loan / impairment

The recoverability of the loan due from its subsidiary is subject to the adequate long term profitability of that business. As such there is a level of judgement around the full collectability of that loan and the significant impact on the net asset values of the company. The directors are satisfied on review that there is no impairment charge to recognise on the loan asset in the financial year.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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 (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

106

NET BOOK VALUE

At 31 December 2024

106

At 31 December 2023

106

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

VAT

1,320

690

Amounts falling due after more than one year:

Amounts owed by group undertakings

10,033,383

9,391,193

Aggregate amounts

10,034,703

9,391,883

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

4,140

Other creditors

106

106

Accrued expenses

2,993

4,140

3,099

8,386

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

13,760,817

12,869,414

8.

RESERVES

Retained

earnings

£

At 1 January 2024

(4,685,226

)

Deficit for the year

(243,383

)

At 31 December 2024

(4,928,609

)

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

The Report of the Auditors was unqualified.

Craig Baird FCA (Senior Statutory Auditor)

for and on behalf of Willsons (Higham Ferrers) Ltd

10.	RELATED PARTY DISCLOSURES

At the year end the company was owed by its subsidiary company £10,033,383 (2023: £9,391,193). There are no fixed terms of repayment on the loan element of the balance.

At the year end the company owed its parent £13,760,817 (2023: £12,869,414).

11.	ULTIMATE CONTROLLING PARTY

The Company's immediate parent Gren CHP Limited, has been replaced by Gren Energy Limited incorporated in England. Gren Energy Limited ultimate parent is Gren Holding 1 S.a.r.l. incorporated in Luxembourg. The ultimate controlling party is the Partners Group Holding AG in Switzerland.