BALNAMOON RENEWABLES LIMITED


Director	ORR, Charles James Robert


Registered Address	9 Newton Place Office 1, Technology House
	9 Newton Place
	Glasgow
	G3 7PR


Registered Number	SC272029 (Scotland)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		325,667		377,299
			325,667		377,299
Current assets
Debtors	5	61,435		76,621
Cash at bank and on hand		21,654		23,833
		83,089		100,454
Creditors amounts falling due within one year	6	(74,572)		(88,747)
Net current assets (liabilities)			8,517		11,707
Total assets less current liabilities			334,184		389,006
Creditors amounts falling due after one year	7		(109,100)		(92,430)
Provisions for liabilities			(24,036)		(24,036)
Net assets			201,048		272,540
Capital and reserves
Called up share capital			407		407
Share premium			223,427		223,427
Profit and loss account			(22,786)		48,706
Shareholders' funds			201,048		272,540

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 29 September 2025, and are signed on its behalf by:

ORR, Charles James Robert
Director
Registered Company No. SC272029

BALNAMOON RENEWABLES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	Balnamoon Renewables Limited is a private company limited by shares incorporated in Scotland. On 1 July 2022, the company was purchased by Fuse Energy Supply Limited (registered number 08469701) and changed its registered office from 8 Albert Street, Kirkwall, Orkney, KW15 1HP to 37 Mucklets Crescent, Musselburgh, Scotland, EH21 6SS

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 January 24	1,212,350	1,212,350
At 31 December 24	1,212,350	1,212,350
Depreciation and impairment
At 01 January 24	835,051	835,051
Charge for year	51,632	51,632
At 31 December 24	886,683	886,683
Net book value
At 31 December 24	325,667	325,667
At 31 December 23	377,299	377,299

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	12,878	17,581
Other debtors	14,841	2,335
Prepayments and accrued income	33,716	56,705
Total	61,435	76,621


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.  Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	62,176	66,681
Taxation and social security	-	9,670
Accrued liabilities and deferred income	12,396	12,396
Total	74,572	88,747


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Amounts owed to related parties	109,100	92,430
Total	109,100	92,430


	As at 31 December 2024 Balnamoon owes its parent company Fuse Energy Supply Limited £109,100. (2023: £92,430). This is repayable when Balnamoon has sufficient funds to repay the balance. £107,700 has been settled during the year.

8.	Operating lease commitments
	The Company leases an area of land on which its wind turbine is situated. The minimum annual financial commitment under the lease is £6,000 and the lease expires on 13 October 2033. At 31 December 2024, the company had total commitments under this non-cancellable operating lease over the remaining life of the lease of £54,000 (2023: – £60,000).

9.	Related party transactions
	Balnamoon Limited owes Fuse Energy Supply Limited its parent company £109,100 as at 31 December 2024 (2023: £92,430).