REGISTERED NUMBER: SC432643 (Scotland)

STRONELAIRG WIND ESTATE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTOR:

V Desai

REGISTERED OFFICE:

3rd Floor

Mclellen Works

274 Sauchiehall Street

Glasgow

G2 3EH

REGISTERED NUMBER:

SC432643 (Scotland)

AUDITORS:

Berringers LLP

Chartered Accountants

and Statutory Auditors

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

FIXED ASSETS

Tangible assets

4

7,542

7,542

CURRENT ASSETS

Debtors

5

1,643,239

1,468,195

Cash at bank

145,025

-

1,788,264

1,468,195

CREDITORS

Amounts falling due within one year

6

1,600,810

510,741

NET CURRENT ASSETS

187,454

957,454

TOTAL ASSETS LESS CURRENT LIABILITIES

194,996

964,996

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

194,995

964,995

SHAREHOLDERS' FUNDS

194,996

964,996

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 director and authorised for issue on 29 September 2025 and were signed by:

V Desai - Director

1.	STATUTORY INFORMATION

Stronelairg Wind Estate Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources, and support from the group, to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Wind farm rental income is based on the level of energy generated. Previously, the final statement has not been available until after the financial statements have been approved, therefore the amount accrued has been based on an estimate. This year, the final statement and invoice have been made available and the accrual of £1.3m for the variable rent has been based on actuals. (2023: £1.3m estimate restated) The only significant estimate now relates to the ROC Recycle income of £122,281, which has been based on interim energy generation report and applying energy auction prices (www.nordpoolgroup.com).

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an on-going basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, when, and if, better information is obtained.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included above.

Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relates to the following.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation has not been provided for on Land and Buildings. This relates wholly to land, for which no depreciation is provided.

Financial instruments

Financial instruments are recognised in the company's balance sheet 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

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.

Basic financial 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

The lease for the windfarm is treated as an operating lease. The total rental income is based on the level of energy generation. While the rate paid for generated income increases later in the lease, due to the many external factors that can impact energy generation it is not possible to accurately predict the level of income in future years. As a result this rental income is recognised in the period to which the income relate. The base rent element is allocated to the period to which it relates and then allocated to months within this period on a straight line basis.

Cash and cash equivalents

Cash is represented by deposits with financial intuitions repayable without penalty on notice of 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4.	TANGIBLE FIXED ASSETS

Heritable

Land &

Buildings

£

COST

At 1 January 2024

and 31 December 2024

7,542

NET BOOK VALUE

At 31 December 2024

7,542

At 31 December 2023

7,542

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Amounts owed by group undertakings

154,092

154,092

Other debtors

-

108,322

Prepayments and accrued income

1,489,147

1,205,781

1,643,239

1,468,195

Balances with group undertakings are repayable on demand and no interest is payable on outstanding balances.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Amounts owed to group undertakings

8,509

-

Accruals and deferred income

478,293

493,888

Accrued expenses

1,114,008

16,853

1,600,810

510,741

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1

Ordinary

£1

1

1

8.

RESERVES

Retained

earnings

£

At 1 January 2024

964,995

Profit for the year

-

Dividends

(770,000

)

At 31 December 2024

194,995

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Paul Allan BSocSc FCA (Senior Statutory Auditor)

for and on behalf of Berringers LLP

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The Company is a member of a small group, for which consolidated financial statements are drawn up. The parent of the smallest group is Scots Wind Property Ltd. The financial statements of Scots Wind Property Ltd can be obtained from the Company's registered office: 10 Lower Thames Street, City of London, EC3R 6AF.

The Company's ultimate controlling party is Human Capability Foundation, a company incorporated in England and Wales. The financial statements of Human Capability Foundation can be obtained from the Company's registered office: Natco Cash & Carry, Silverdale Industrial Estate, Silverdale Road, Hayes, London, United Kingdom, UB3 3BL.