H2O Power Towy Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 08536788

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,896,433		11,348,197

			10,896,433		11,348,197
CURRENT ASSETS
Debtors	5	573,011		357,167
Cash at bank and in hand		251,074		194,136

		824,085		551,303
Creditors: Amounts Falling Due Within One Year	6	(486,674 )		(295,796 )

NET CURRENT ASSETS (LIABILITIES)			337,411		255,507

TOTAL ASSETS LESS CURRENT LIABILITIES			11,233,844		11,603,704

Creditors: Amounts Falling Due After More Than One Year	7		(12,282,857 )		(13,651,972 )

NET LIABILITIES			(1,049,013 )		(2,048,268 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(1,049,113 )		(2,048,368 )

SHAREHOLDERS' FUNDS			(1,049,013)		(2,048,268)

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H2O Power Towy Ltd

Balance Sheet (continued)

As At 31 December 2024

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ewan Campbell-Lendrum

Director

19/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

H2O Power Towy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08536788 . The registered office is Wellington House, 273-275 High Street, London Colney, Hertfordshire, AL2 1HA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Straight line over 40 years
Plant & Machinery	Straight line over 25 years

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2024	160,000	12,743,237	12,903,237
Additions	-	69,217	69,217

As at 31 December 2024	160,000	12,812,454	12,972,454

Depreciation
As at 1 January 2024	20,000	1,535,040	1,555,040
Provided during the period	4,000	516,981	520,981

As at 31 December 2024	24,000	2,052,021	2,076,021

Net Book Value
As at 31 December 2024	136,000	10,760,433	10,896,433

As at 1 January 2024	140,000	11,208,197	11,348,197

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H2O Power Towy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	573,011	357,167

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	312,398	202,999
VAT	84,918	35,340
Accruals and deferred income	86,400	54,811
Directors' loan accounts	2,958	2,646

	486,674	295,796

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	12,282,857	13,651,972

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

During the year a loan was provided from Renfin Hydro Ltd to H2O Power TOWY Ltd. Interest is payable on this loan at an average rate of 2.47% p.a. At the balance sheet date the amount due to Renfin Hydro Ltd was £9,406,572 (2023: £10,231,130).

During the year a loan was provided from Renfin Hydro Holdco Ltd to H2O Power TOWY Ltd. Interest is payable on this loan at an average rate of 7% p.a. At the balance sheet date the amount due to Renfin Hydro Holdco Ltd was £1,789,546 (2023: £2,526,497).

During the year a loan was provided from Renfin Corrimony Ltd to H2O Power TOWY Ltd. Interest is payable on this loan at an average rate of 7% p.a. At the balance sheet date the amount due to Renfin Corrimony Ltd was £967,413 (2023: £649,985).

10. Ultimate Parent Undertaking and Controlling Party

The company's ultimate parent undertaking is Renfin International a.s . The ultimate controlling party is Renfin Hydro Ltd who controls 70% of the shares of H2O Power Towy Ltd .

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