ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Registered number: 10724615

OUTLOOK ENERGY HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

OUTLOOK ENERGY HOLDINGS LIMITED

COMPANY INFORMATION

Directors	J A Henriksen
	D T Mlynski
	B W V Spencer


Registered number	10724615


Registered office	Aston House
	Cornwall Avenue
	London
	N3 1LF


Independent auditors	Adler Shine LLP
	Chartered Accountants & Statutory Auditor
	Aston House
	Cornwall Avenue
	London
	N3 1LF

OUTLOOK ENERGY HOLDINGS LIMITED

CONTENTS

	Page
Group strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 9
Consolidated statement of comprehensive income	10
Consolidated balance sheet	11
Company balance sheet	12
Consolidated statement of changes in equity	13
Company statement of changes in equity	14
Consolidated statement of cash flows	15 - 16
Consolidated analysis of net debt	17
Notes to the financial statements	18 - 36

OUTLOOK ENERGY HOLDINGS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The group’s directors present their strategic report for the group’s consolidated financial statements for the year ended 31 December 2024.
The group is an independently owned short-term energy trading business established in 2015. We help to balance a range of European electricity markets 24/7, 365 days a year.

Business review

The directors are satisfied with the performance of the group in the year ended 31 December 2024. The group generated revenues of £17.8m (2023: £23.5m), a decrease of 24.3% against the previous year. The energy market stabilized in the year which meant less margins on the energy fluctuctuations and hence drop in turnover.
The directors have implemented strategic plans to carefully manage growth, including gaining access to and starting trading in Europe. In 2024, the European markets made up less than 1% of the Group's trading revenue but have since been growing steadily each month, reaching more than 17 % in both August and September 2024.
The directors plan to continue to develop the business and provide great career opportunities for people in Bristol and Melbourne.

Principal risks and uncertainties

Commercial environment
The energy markets continue to be volatile with several external factors impacting the price of commodity prices.
The group mitigates this by investing in short-term trades thus reducing the exposure to volatile prices over
longer periods of time. The group also keeps markets under constant 24/7 review and therefore has the ability to
assess, review and act on trades as necessary at any given time.
Foreign currency risk
The group seeks to mitigate foreign exchange risk by operating in local currencies, including operating banking
facilities in foreign currencies, as far as possible. Close treasury management allows the group to monitor
fluctuating currencies and convert currencies as and when is considered appropriate.
Regulatory risks
The group continuously reviews and assesses the impact to regulatory changes, ensuring that the group is able
to maintain its trading edge in the markets in which we operate.

Financial key performance indicators

The group considers the financial key performance indicators to be:

     2024 2023
   £m £m
   Turnover 17.8 23.5
   Profit before tax 5.5 14.0
   Working capital 25.4 27.1

Other key performance indicators

Other key performance indicators include the number of daily trades completed.

Page 1

OUTLOOK ENERGY HOLDINGS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Directors' statement of compliance with duty to promote the success of the Group

This section serves as the directors' section 172 statement which requires directors to take into consideration the
interests of stakeholders in their decision making.
The directors continue to have regard to the interests of the group's employees and other stakeholders, including
the impact of its activities on the community, suppliers, customers, the environment and the group's reputation,
when making decisions. Acting in good faith and fairly between shareholders, the directors consider what is most
likely to promote the success of the group in the long term, including:
  • The directors consider the interests of employees and deems employment a primary factor in the success of the group. The group aims to be a responsible employer and that includes temporary employees and consultants. Matters including health and safety are primary consideration when making decisions.
  • When making decisions on the group's strategy and operations, the directors also consider the impact of these decision on the community and environment.
  • As the group grows the directors are aware of the importance of its reputation and ensure that management operates the group in a reasonable manner and with integrity. The directors seek to ensure that this culture is understood and shared across the group.

This report was approved by the board and signed on its behalf.

D T Mlynski

Director

Date: 30 September 2025

Page 2

OUTLOOK ENERGY HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £4,632,048 (2023 - £10,393,778).

During the year the company paid dividends totalling £5,659,825 (2023 - £18,329,376).

Directors

The directors who served during the year were:

J A Henriksen

D T Mlynski

B W V Spencer

Future developments

The group intends to continue its activities, looking for potential new markets and trading exchanges in which it can continue to grow.

Engagement with suppliers, customers and others

The group has an open and honest relationship with suppliers, customers and others in negotiating contracts and other arrangements.

Page 3

OUTLOOK ENERGY HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Auditors

The auditors, Adler Shine LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

D T Mlynski

Director

Date: 30 September 2025

Page 4

OUTLOOK ENERGY HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OUTLOOK ENERGY HOLDINGS LIMITED

Opinion

We have audited the financial statements of Outlook Energy Holdings Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 December 2024 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 5

OUTLOOK ENERGY HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OUTLOOK ENERGY HOLDINGS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Page 6

OUTLOOK ENERGY HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OUTLOOK ENERGY HOLDINGS LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.

Page 7

OUTLOOK ENERGY HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OUTLOOK ENERGY HOLDINGS LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have:
• considered the nature of the industry and sectors, control environment and business performance;
• made enquiries of management about their own identification and assessment of the risk of irregularities;
• performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias;
• undertaken appropriate sample based testing of bank transactions;
• identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances of non-compliance. The key laws and regulations we considered in this context included UK Companies Act, data protection, anti-bribery, employment law, health and safety and Money Laundering Act;
• discussed matters among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Page 8

OUTLOOK ENERGY HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OUTLOOK ENERGY HOLDINGS LIMITED (CONTINUED)

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Engin Zekia BSc FCA (senior statutory auditor)

for and on behalf of

Adler Shine LLP

Chartered Accountants

Statutory Auditor

Aston House

Cornwall Avenue

London

N3 1LF

30 September 2025

Page 9

OUTLOOK ENERGY HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	17,769,622	23,453,722
Cost of sales		(2,905,926)	(410,416)
Gross profit		14,863,696	23,043,306
Administrative expenses		(9,629,621)	(9,267,724)
Operating profit	5	5,234,075	13,775,582
Share of loss of joint venture		(214,130)	(513,219)
Total operating profit		5,019,945	13,262,363
Income from participating interests		-	1,000,000
Interest receivable and similar income	9	594,669	390,378
Interest payable and similar expenses	10	(44,223)	(658,536)
Profit before taxation		5,570,391	13,994,205
Tax on profit	11	(938,343)	(3,600,427)
Profit for the financial year		4,632,048	10,393,778


Foreign exchange reserve movements	12,072	(281,039)
Other comprehensive income for the year	12,072	(281,039)
Total comprehensive income for the year	4,644,120	10,112,739

Profit for the year attributable to:
Owners of the parent company	4,632,048	10,393,778
	4,632,048	10,393,778

Total comprehensive income for the year attributable to:
Owners of the parent company	4,644,120	10,112,739
	4,644,120	10,112,739

The notes on pages 18 to 36 form part of these financial statements.

Page 10

OUTLOOK ENERGY HOLDINGS LIMITED

REGISTERED NUMBER: 10724615

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	13		1,477,081		967,117
Investments	14		481,353		695,483
			1,958,434		1,662,600
Current assets
Debtors: amounts falling due within one year	15	18,711,328		10,288,001
Cash at bank and in hand	16	17,277,188		21,565,265
		35,988,516		31,853,266
Creditors: amounts falling due within one year	17	(10,175,380)		(4,728,591)
Net current assets			25,813,136		27,124,675
Total assets less current liabilities			27,771,570		28,787,275
Net assets			27,771,570		28,787,275

Capital and reserves
Called up share capital	20	200	200
Share premium account	21	7,441	7,441
Foreign exchange reserve	21	(298,221)	(310,293)
Profit and loss account	21	28,062,150	29,089,927
Equity attributable to owners of the parent company		27,771,570	28,787,275
		27,771,570	28,787,275

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D T Mlynski

Director

Date: 30 September 2025

The notes on pages 18 to 36 form part of these financial statements.

Page 11

OUTLOOK ENERGY HOLDINGS LIMITED

REGISTERED NUMBER: 10724615

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	14		278		278
			278		278
Current assets
Debtors: amounts falling due within one year	15	18,650,156		20,682,250
Cash at bank and in hand	16	21,704		493
		18,671,860		20,682,743
Creditors: amounts falling due within one year	17	(6,962,477)		(3,415,479)
Net current assets			11,709,383		17,267,264
Total assets less current liabilities			11,709,661		17,267,542


Net assets			11,709,661		17,267,542

Capital and reserves
Called up share capital	20		200		200
Share premium account	21		7,441		7,441
Profit and loss account brought forward		17,259,901		14,513,073
(Loss)/profit for the year		101,944		21,076,204
Other changes in the profit and loss account		(5,659,825)		(18,329,376)
Profit and loss account carried forward			11,702,020		17,259,901
			11,709,661		17,267,542

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D T Mlynski

Director

Date: 30 September 2025

The notes on pages 18 to 36 form part of these financial statements.

Page 12

OUTLOOK ENERGY HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Foreign exchange reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2023	200	7,441	(29,254)	37,025,525	37,003,912
Comprehensive income for the year
Profit for the year	-	-	-	10,393,778	10,393,778
Movement on translation of foreign subsidiary	-	-	(281,039)	-	(281,039)
Dividends: Equity capital	-	-	-	(18,329,376)	(18,329,376)

At 1 January 2024	200	7,441	(310,293)	29,089,927	28,787,275

Profit for the year	-	-	-	4,632,048	4,632,048
Movement on translation of foreign subsidiary	-	-	12,072	-	12,072
Dividends: Equity capital	-	-	-	(5,659,825)	(5,659,825)
At 31 December 2024	200	7,441	(298,221)	28,062,150	27,771,570

The notes on pages 18 to 36 form part of these financial statements.

Page 13

OUTLOOK ENERGY HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	200	7,441	14,513,073	14,520,714

Profit for the year	-	-	21,076,204	21,076,204
Dividends: Equity capital	-	-	(18,329,376)	(18,329,376)

At 1 January 2024	200	7,441	17,259,901	17,267,542

Profit for the year	-	-	101,944	101,944
Dividends: Equity capital	-	-	(5,659,825)	(5,659,825)
At 31 December 2024	200	7,441	11,702,020	11,709,661

The notes on pages 18 to 36 form part of these financial statements.

Page 14

OUTLOOK ENERGY HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

			2024	2023
			£	£

Cash flows from operating activities
Profit for the financial year	4,632,048	10,393,778
Adjustments for:
Depreciation of tangible assets	151,726	36,591
Interest paid	44,223	658,536
Interest received	(594,669)	(1,390,378)
Taxation charge	938,343	3,600,427
(Increase)/decrease in debtors	(6,396,142)	17,460,024
Decrease/(increase) in amounts owed by groups	656,451	(656,451)
Decrease in amounts owed by joint ventures	5,923	137,365
Increase in creditors	916,546	2,644
Share of operating profit in joint ventures	214,130	513,219
Corporation tax (paid)	(2,530,372)	(5,395,299)
Foreign Exchange Differences	(12,072)	(281,039)
Net cash generated from operating activities	(1,973,865)	25,079,417

Cash flows from investing activities
Purchase of tangible fixed assets	(661,691)	(930,958)
Interest received	594,669	390,378
Income from investments in related companies	-	1,000,000
Net cash from investing activities	(67,022)	459,420
Cash flows from financing activities
Other new loans	3,456,918	-
Repayment of other loans	-	(8,724,146)
Dividends paid	(5,659,825)	(18,329,376)
Interest paid	(44,223)	(658,536)
Net cash used in financing activities	(2,247,130)	(27,712,058)
Net (decrease) in cash and cash equivalents	(4,288,017)	(2,173,221)
Cash and cash equivalents at beginning of year	21,565,205	23,738,426
Cash and cash equivalents at the end of year	17,277,188	21,565,205

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	17,277,188	21,565,265
Bank overdrafts	-	(60)

Page 15

OUTLOOK ENERGY HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

		2024	2023
		£	£

	17,277,188	21,565,205

The notes on pages 18 to 36 form part of these financial statements.

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OUTLOOK ENERGY HOLDINGS LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 DECEMBER 2024


At 1 January 2024	Cash flows	At 31 December 2024
£	£	£

Cash at bank and in hand	21,565,265	(4,288,077)	17,277,188
Bank overdrafts	(60)	60	-
Debt due within 1 year	(871,556)	(3,451,933)	(4,323,489)
	20,693,649	(7,739,950)	12,953,699

The notes on pages 18 to 36 form part of these financial statements.

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OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Outlook Energy Holdings Limited is a private company limited by shares and registered in England and Wales. Its registered office address is Aston House, Cornwall Avenue, London, N3 1LF and its principal place of business is 4th Floor Bridgewater House, Counterslip, Finzels Reach, Bristol, BS1 6BX.
The financial statements are presented in Sterling (£), rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Going concern

After making enquiries, the directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Group and company's's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised 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:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group and Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.9

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 20

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as set out below.

Depreciation is provided on the following basis:

Short-term leasehold property	-	Over the term of the lease
Motor vehicles	-	25% reducing balance
Office equipment	-	20% straight line
Computer equipment	-	33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 21

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.12

Associates and joint ventures

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The consolidated statement of comprehensive income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the consolidated balance sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.
Any premium on acquisition is dealt with in accordance with the goodwill policy.

2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.16

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's balance sheet when the Group becomes party to

Page 22

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

Financial instruments (continued)

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

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 Group after the deduction of all its liabilities.

Page 23

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

Financial instruments (continued)

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.17

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Page 24

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experiences and other factors that are considered 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 the revision and future periods, if the revision affects both current and future periods.
The key assumptions and other key sources of uncertainty that have a significant effect of the amount
recognised in the financial statements are described below:
Tangible fixed assets
Judgments have been made in relation to the lives of tangible assets. In particular, the valuation and the useful economic life and residual values of these assets. The directors have concluded that the asset values and residual values are appropriate.
Recoverability of debtors
Judgments have been made on the recoverability of debtors and the valuation of provisions. The directors are satisfied that the debts are recoverable.

Income from executed trades	17,354,877	22,952,527
Consultancy and management fee income	414,745	501,195
	17,769,622	23,453,722

All turnover arose within the United Kingdom.

Page 25

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Exchange differences

465,076

278,399

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements

50,000

7.	Employees
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2024	2023
		£	£


Wages and salaries	4,074,640	4,316,245
Social security costs	391,665	336,533
Cost of defined contribution scheme	314,769	84,539
	4,781,074	4,737,317

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.

Directors	3	3	3	3
Traders	29	29	-	-
Administrative support	1	1	-	-

	33	33	3	3

Page 26

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Directors' remuneration
		2024	2023
		£	£

Directors' emoluments	96,536	96,980
Group contributions to defined contribution pension schemes	98,200	2,400
	194,736	99,380

9.	Interest receivable
		2024	2023
		£	£

Other interest receivable

594,669

390,378

10.	Interest payable and similar expenses
		2024	2023
		£	£

Other loan interest payable	44,223	656,602
Other interest payable	-	1,934
	44,223	658,536

Page 27

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Corporation tax
Current tax on profits for the year	1,337,316	3,439,938
Adjustments in respect of previous periods	(483,599)	122,351
	853,717	3,562,289
Foreign tax
Foreign tax in respect of prior periods	44,143	67,716
	44,143	67,716
Total current tax	897,860	3,630,005

Deferred tax
Origination and reversal of timing differences	40,483	(29,578)
Total deferred tax	40,483	(29,578)


		938,343	3,600,427

Page 28

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.Taxation (continued)

Profit on ordinary activities before tax

5,570,391

13,994,205

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	1,392,598	3,498,551
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	(16,346)	186,574
Capital allowances for year in excess of depreciation	(93,822)	2,880
Adjustments to tax charge in respect of prior periods	(329,162)	122,351
Deferred Tax	40,483	(29,578)
Foreign tax adjustment	44,143	199,178
Other adjustments	(99,551)	(174,119)
Marginal relief	-	(205,410)
Total tax charge for the year	938,343	3,600,427

12.	Dividends
		2024	2023
		£	£

Interim dividends on A Ordinary Shares	2,276,511	6,315,803
Interim dividends on B Ordinary Shares	1,845,008	6,130,814
Interim dividends on C Ordinary Shares	833,306	3,872,758
Interim dividends on D Ordinary Shares	705,000	2,010,001
	5,659,825	18,329,376

Page 29

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Tangible fixed assets
	Group

	Short-term leasehold property	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	893,698	52,690	71,973	66,478	1,084,839
Additions	514,183	-	86,645	60,863	661,691
At 31 December 2024	1,407,881	52,690	158,618	127,341	1,746,530
Depreciation
At 1 January 2024	-	33,238	49,937	34,547	117,722
Charge for the year on owned assets	108,299	4,863	15,271	23,294	151,727
At 31 December 2024	108,299	38,101	65,208	57,841	269,449
Net book value
At 31 December 2024	1,299,582	14,589	93,410	69,500	1,477,081
At 31 December 2023	893,698	19,452	22,036	31,931	967,117

Page 30

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	Fixed asset investments
	Group

		Investments in joint venture
		£
	Cost or valuation
	At 1 January 2024	695,483
	Share of profit/(loss)	(214,130)
	At 31 December 2024	481,353

	Net book value
	At 31 December 2024	481,353
	At 31 December 2023	695,483

	Company

	Investments in subsidiary companies	Investments in joint venture	Total
	£	£	£
Cost or valuation
At 1 January 2024	277	1	278
At 31 December 2024	277	1	278

Net book value
At 31 December 2024	277	1	278
At 31 December 2023	277	1	278

Page 31

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

Outlook Energy Services Limited	England & Wales	Ordinary	100%
EDTC Limited	England & Wales	Ordinary	100%
Outlook Energy Limited	England & Wales	Ordinary	100%
Outlook Energy Pty	Australia	Ordinary	100%

Associate
The following was an associate of the company:
Name	Registered office	Class of shares	Holding

Adela Energy Limited

England & Wales

Ordinary

50%

15.

Debtors

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Trade debtors	-	7,574	-	-
Amounts owed by group undertakings	-	656,451	17,900,156	19,932,250
Amounts owed by joint ventures and associated undertakings	869,942	875,865	750,000	750,000
Other debtors	11,229,427	3,188,377	-	-
Prepayments and accrued income	6,455,026	5,362,317	-	-
Deferred taxation	156,933	197,417	-	-
	18,711,328	10,288,001	18,650,156	20,682,250

16.	Cash and cash equivalents
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Cash at bank and in hand	17,277,188	21,565,265	21,704	493
Less: bank overdrafts	-	(60)	-	(60)
	17,277,188	21,565,205	21,704	433

Page 32

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank overdrafts	-	60	-	60
Other loans	4,318,100	861,179	4,318,100	861,181
Trade creditors	268,137	108,525	-	-
Amounts owed to group undertakings	-	-	2,621,283	2,530,802
Corporation tax	1,164,532	91,151	23,094	23,436
Other taxation and social security	181,465	718,767	-	-
Other creditors	572,162	21,132	-	-
Accruals and deferred income	3,670,984	2,927,777	-	-
	10,175,380	4,728,591	6,962,477	3,415,479

18.	Financial instruments
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	17,277,188	21,565,265	21,704	493

Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 33

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

19.	Deferred taxation
	Group

		2024
		£

	At beginning of year	197,417
	Charged to profit or loss	(40,483)
	At end of year	156,934

	Company



	At end of year	-

The deferred tax asset is made up as follows:
	Group	Group
	2024	2023
	£	£

Accelerated capital allowances	(19,064)	(15,517)
Other temporary differences	175,997	212,934
	156,933	197,417

20.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

60 (2023 - 60) A Ordinary shares of £1.00 each	60	60
60 (2023 - 60) B Ordinary shares of £1.00 each	60	60
60 (2023 - 60) C Ordinary shares of £1.00 each	60	60
20 (2023 - 20) D Ordinary shares of £1.00 each	20	20

	200	200

All shares rank pari passu for the purpose of voting and the winding up of capital but represent separate classes for the purpose of the declaration of dividends.

Page 34

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

21.

Reserves

Share premium account

The share premium account represents amounts paid for share above their nominal value, less any costs incurred on the execution of the share issue.

Foreign exchange reserve

The foreign exchange reserve represents the foreign exchange difference arising on the consolidation of the group's non- UK subsidiary. Differences arising on the translation of non-sterling balances are taken to this reserve each year.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

22.	Capital commitments
	At 31 December 2024 the Group and company had capital commitments as follows:
		Group	Group
		2024	2023
		£	£

	Contracted for but not provided in these financial statements	-	(353,729)
		-	(353,729)

23.	Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £257,304 (2023 - £30,264).

24.	Commitments under operating leases
	At 31 December 2024 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2024	2023
		£	£

Not later than 1 year	447,930	447,930
Later than 1 year and not later than 5 years	1,328,602	1,328,602
Later than 5 years	1,135,805	1,583,735
	2,912,337	3,360,267

Page 35

OUTLOOK ENERGY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

25.

Related party transactions

The group and parent company have taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
During the year sales totalling £414,746 (2023 - £459,786) were made to an associate of the group. Dividends totalling £Nil (2023 - £1,000,000) and interest totalling £114,945 (2023 - £100,000) were received from the associate. As at the year end £869,942 (2023 - £875,865) was due to the company from the group associate and is included in other debtors.
During the year the group made donations to a charity where a director is a trustee totalling £1,233,750 (2023 - £2,502,232).
Included in debtors is an amount of £Nil (2022: £1,382) due from a director of the Company.
Included in creditors are amounts of £3,509,248 (2023: £779,229) due to the directors of the Company and related entities.

Page 36