REGISTERED NUMBER: 08561136 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

GG Eco Energy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Scott

Mrs C Phillips

REGISTERED OFFICE:

18 Riversway Business Village

Navigation Way

Preston

Lancashire

PR2 2YP

REGISTERED NUMBER:

08561136 (England and Wales)

AUDITORS:

Willsons (Higham Ferrers) Ltd

Chartered Accountants

Statutory Auditors

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

501,808

581,248

501,808

581,248

CURRENT ASSETS

Debtors

6

55,396

59,835

Cash at bank

63,194

109,668

118,590

169,503

CREDITORS

Amounts falling due within one year

7

128,774

89,417

NET CURRENT (LIABILITIES)/ASSETS

(10,184

)

80,086

TOTAL ASSETS LESS CURRENT LIABILITIES

491,624

661,334

CREDITORS

Amounts falling due after more than one year

8

4,023,412

3,762,782

NET LIABILITIES

(3,531,788

)

(3,101,448

)

CAPITAL AND RESERVES

Called up share capital

9,000

9,000

Retained earnings

(3,540,788

)

(3,110,448

)

SHAREHOLDERS' DEFICIT

(3,531,788

)

(3,101,448

)

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

GG Eco Energy 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.

Critical accounting judgements and key sources of estimation uncertainty

Judgements

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 directors have made enquiries of these entities, and they have indicated that they will continue to provide such support as needed.

The company also has secured long term contracts and the Directors believe the Company to be a going concern due to a positive cashflow forecast from these contracts for the next twelve months.

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.

Estimates

Allowances for impairment of trade receivables

The Company estimates the allowance for doubtful trade receivables based on assessment of specific accounts where the Company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgment used was based on the best available facts and circumstances including but not limited to, the length of relationship. At the period end, provisions for doubtful debts amounted to £NIL (2023: £NIL).

Useful lives of depreciable and intangible assets

The annual depreciation and amortisation charges depend primarily on the estimated lives of each type of asset. The directors annually review these asset lives and adjust them as necessary to reflect current thinking on remaining lives in light of technological change, prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have significant impact on depreciation and amortisation charges for the financial year. The useful economic lives for each class of asset are disclosed in the accounting policy set out in Note 2.

Impairment of tangible and intangible assets

Determining whether tangible and intangible assets are impaired requires an estimation of the value in use of the cash generating units to which assets have been allocated. The value in use calculation requires the directors to estimate the future cash flows to arise from the cash-generating unit and a suitable discount rate in order to calculate present value. Where the actual cash flows are less than expected, a material impairment may arise. The directors are satisfied on review that there is no impairment charge to recognise on tangible and intangible assets in the financial year.

Deferred tax assets

Deferred tax is recognised based on differences between the carrying value of assets and liabilities and the tax value of assets and liabilities. Deferred tax assets are only recognised to the extent that the Company estimates that future taxable profits will be available to offset them.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the period.

Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. The Company recognises revenue when the amount of the revenue and related cost can be reliably measured, when it is probable that future economic benefits will flow to the Company and when the specific criteria relating to each of company's sales channels have been met, as described below. All revenue arose within the United Kingdom.

Rendering of services

Revenue represents (1) amounts recoverable from customers for heat generation; (2) amounts recoverable from customers for maintenance contracts and (3) amounts recoverable from the UK Government under the Non-Domestic Renewable Heat Incentive (RHI). Revenue from the above is recognised when the services are rendered when the outcome can be estimated reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Contract Fees are being amortised evenly over their estimated useful life of two years.

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated depreciation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful lives and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Biomass Energy Systems -15 to 20 years

Lifecycle assets - 4 years

Computer equipment and software - 3 years

Ancillary assets - 2 years

Construction in progress is not depreciated until such time as the underlying assets are generating a revenue stream.

Subsequent expenditure on Biomass Energy System assets i.e. lifecycle assets are capitalised to the extent that the subsequent expenditure relates to a major or substantial inspection or overhaul of the Biomass Energy Systems that restores the economic benefits of the asset that have been consumed by the entity and have already been reflected in depreciation. The subsequent expenditure incurred is accounted for as an addition to tangible fixed assets and such costs are depreciated over the period to the next substantial inspection or overhaul, which is typically four years.

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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, trade creditors and borrowings.

Debt instruments (other than those wholly repayable or receivable within one year), including other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market ate or in case of an out-right short-term loan not a market rate, the financial asset or liability, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of loss and retained deficit. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Borrowing costs

The Company expenses borrowing costs in the financial year the costs are incurred. Where borrowing costs are attributable to the acquisition, construction or production of a qualifying asset, such costs are capitalised as part of the specific asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Contract

Fees

£

COST

At 1 January 2024

and 31 December 2024

20,000

AMORTISATION

At 1 January 2024

and 31 December 2024

20,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Biomass

energy

Lifecycle

Ancillary

Computer

systems

assets

assets

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

1,404,549

36,818

14,600

8,508

1,464,475

Additions

-

-

3,751

-

3,751

At 31 December 2024

1,404,549

36,818

18,351

8,508

1,468,226

DEPRECIATION

At 1 January 2024

823,301

36,818

14,600

8,508

883,227

Charge for year

82,800

-

391

-

83,191

At 31 December 2024

906,101

36,818

14,991

8,508

966,418

NET BOOK VALUE

At 31 December 2024

498,448

-

3,360

-

501,808

At 31 December 2023

581,248

-

-

-

581,248

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

19,188

13,304

VAT

9,911

9,179

Prepayments and accrued income

26,297

37,352

55,396

59,835

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

51,158

47,418

Deferred income

2,177

2,177

Accrued expenses

75,439

39,822

128,774

89,417

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other loans - 2-5 years

4,023,412

3,762,782

9.	FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost comprise trade debtors, vat repayable, accrued income, and cash in bank and on hand. The carrying amounts of these financial instruments approximate their fair values due to the short-term maturities of these financial instruments.

Financial liabilities measured at amortised cost comprise of borrowings, trade creditors and accruals. The carrying amounts of trade creditors and accruals approximate their fair values due to the short-term maturities of these financial instruments while borrowings is based on its prevailing interest at the balance sheet date.

10.	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

11.	CONTROLLING PARTY

The Company's immediate parent Gren Biomass 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.