Registration number: 08143242

Norvento Energy UK Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 10

Norvento Energy UK Limited

(Registration number: 08143242)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investments	6	1,955,000	1,955,000
Current assets
Debtors	7	1,385,750	1,540,835
Cash at bank and in hand		34,800	32,142
		1,420,550	1,572,977
Creditors: Amounts falling due within one year	8	(2,036,929)	(2,338,366)
Net current liabilities		(616,379)	(765,389)
Net assets		1,338,621	1,189,611
Capital and reserves
Called up share capital	9	5,375,530	5,375,530
Share premium reserve		60,000	60,000
Retained earnings		(4,096,909)	(4,245,919)
Shareholders' funds		1,338,621	1,189,611

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

Mr P M Fernandez Castro Director

Ms M Fernandez Castro Director

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The primary economic environment in which the company operates is the United Kingdom and the functional currency used in the presentation of the financial statements is British Sterling.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Summary of disclosure exemptions

The company has also taken advantage of the exemption from disclosing transactions with other members of the group.

Name of parent of group

These financial statements are consolidated in the financial statements of Norvento Enerxía S.L.

The financial statements of Norvento Enerxía S.L may be obtained from Edif. CIne – Rúa Ramón Mª Aller Ulloa 23, Pol. As Gándaras, 27003 Lugo, Spain.

Group accounts not prepared

The financial statements contain information about Norvento Energy UK Ltd as an individual company and do not contain consolidated information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included in the consolidated financial statements of the parent of the group.

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Going concern

The directors have reviewed the estimated cash flows for the next twelve months which indicate that the company may continue to require support from its wider group companies to carry on trading and pay its debts as they fall due. The directors have received confirmation from the group that they will continue to provide financial support for the foreseeable future and accordingly have prepared the accounts on a going concern basis.

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was Robert Cadwallader, who signed for and on behalf of ML Audit LLP.

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 amounts 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, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods..

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.

The directors consider the reported value of the company's investment in its subsidiary at the end of each financial year, which is stated at cost. The balance sheet value of the subsidiary is affected by the value of its income generating assets, the value of which is assessed using estimation techniques based on the net present value of expected future cashflows. The directors consider that the estimated future cashflows of the assets supports the reported value of the investment in its subsidiary at the balance sheet date. The carrying amount is £1,950,000 (2023 -£1,950,000).

The directors consider the recoverability of balances due from its subsidiary which comprise of term loans and trading balances. In assessing the recoverability of these balances, the directors consider the future cash flows of its subsidiary. No provision has been made against the balances at the end of the financial year. The carrying amount is £1,379,335 (2023 -£1,509,935).

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Revenue is shown net of value added tax, rebates and discounts.

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the entity;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received
and that all related conditions will be met, usually on submission of a valid claim or payment.

Government grants in respect of capital expenditure are credited to a deferred income account and
are released to profit over the expected useful lives of the relevant assets by equal annual
instalments.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which
they relate.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than assets under construction, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixture and fittings	20% straight line
Office equipment	20% straight line
Plant and machinery	20% straight line

Debtors

Trade debtors are amounts due from customers for services sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Equity instruments issued in exchange for the extinguishment of a liability are measured at the carrying value of the liability which is extinguished.

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Computer software  £	Total £
Cost or valuation
At 1 January 2024	11,900	11,900
Disposals	(11,900)	(11,900)
At 31 December 2024	-	-
Amortisation
At 1 January 2024	11,900	11,900
Amortisation eliminated on disposals	(11,900)	(11,900)
At 31 December 2024	-	-
Carrying amount
At 31 December 2024	-	-

Norvento Energy UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Office equipment £	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	18,440	23,120	142,901	184,461
Disposals	(18,440)	(23,120)	-	(41,560)
At 31 December 2024	-	-	142,901	142,901
Depreciation
At 1 January 2024	18,440	23,120	142,901	184,461
Eliminated on disposal	(18,440)	(23,120)	-	(41,560)
At 31 December 2024	-	-	142,901	142,901
Carrying amount
At 31 December 2024	-	-	-	-

6	Investments

	2024 £	2023 £
Investments in subsidiary	1,950,000	1,950,000
Investments in associates	5,000	5,000
	1,955,000	1,955,000