The directors present their annual report and financial statements for the year ended 31 December 2024.

The company's principal activity following its acquisition by ASH Realisation Limited on 10 September 2021 is the management and realisation of its outstanding receivables.

Going Concern

The Company will be liquidated once all receivable balances have been realised. Until that date the Company will continue to be supported by its parent ASH Realisation Limited. Noting this, the directors believe that the Company has sufficient assets to support an orderly wind down. On this basis, the directors have determined that these financial statements should be prepared on break up basis.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The income statement has been prepared on the basis that all operations are continuing operations.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Armstrong Solar Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, St George's House, 13-14 Ambrose Street, Cheltenham, GL50 3LG.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a break up, as the company will be wound up once outstanding receivables have been realised, being its principal activity.true

The financial statements include adjustments that are necessary to reflect the break up basis of preparation, which include impairing assets to their recoverable amount and recognition of liabilities based on the probable outflow of economic benefit.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

The company does not have any employees.

Other debtors includes an amount of £50,000 (2023: £50,000) of loan notes receivable inclusive of interest from Renewables Solar (UK) Limited (in liquidation). Larkfleet Limited has provided certain guarantees against this amount. Repayment of these loan notes in full depends upon the final amounts of assets realised and claims settled by the liquidator and claims recovered under the Larkfleet guarantees. The balance is the directors best estimate of the amount recoverable from the liquidator and Larkfleet Limited.

The balances owed to group undertakings are interest free and repayable on demand.

Loan notes relates to secured loan notes and accrued interest issued under a loan note instrument dated 25 June 2015. Interest accrued on the outstanding loan note principal at a rate of between 10-15% per annum. On 10 September 2021 the outstanding loan note principle was repaid with the balance outstanding relating to accrued interest only. The loan notes are owned by ASH Realisation Limited.

Under the break up basis, the loan notes have been written down by £16,756,061 to the probable outflow of economic benefits which is based on the Company's recoverable assets.

As at 31 December 2024 the company's parent and ultimate controlling party was ASH Realisation Limited. Both entities were incorporated in England and Wales and have the same registered address of 3rd Floor, St George's House, 13-14 Ambrose Street, Cheltenham, GL50 3LG.