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REGISTERED NUMBER: SC520799 (Scotland)

CATRINE COMMUNITY RENEWABLES LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

CATRINE COMMUNITY RENEWABLES LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTOR: | J P R Kleboe

| SECRETARY: | J P R Kleboe

| REGISTERED OFFICE: | Catrine Community Hatchery

| Laigh Road

| Catrine

| Mauchline

| Ayrshire

| KA5 6SN

| REGISTERED NUMBER: | SC520799 (Scotland)

| ACCOUNTANTS: | JRD LLP

| 11 Portland Road

| Kilmarnock

| KA1 2BT

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 300,284 |  | 281,628 |  |

CURRENT ASSETS

Stocks | - |  | 35,679 |  |

Debtors | 5 | 32,699 |  | 90,000 |  |

Cash at bank | 92,927 |  | 129,362 |  |

125,626 |  | 255,041 |  |

CREDITORS

Amounts falling due within one year | 6 | 68,394 |  | 136,157 |  |

NET CURRENT ASSETS | 57,232 |  | 118,884 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 357,516 |  | 400,512 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 191,377 |  | 256,199 |  |

NET ASSETS | 166,139 |  | 144,313 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 166,138 |  | 144,312 |  |

SHAREHOLDERS' FUNDS | 166,139 |  | 144,313 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

BALANCE SHEET - continued

31ST MARCH 2025

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 4th September 2025 and were signed by:

J P R Kleboe - Director

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| Catrine Community Renewables Ltd 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.

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.

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

| Plant and machinery etc | - | 10% on cost and at varying rates on cost

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1st April 2024 | 104,445 |  | 303,137 |  | 407,582 |  |

| Additions | - |  | 29,402 |  | 29,402 |  |

| At 31st March 2025 | 104,445 |  | 332,539 |  | 436,984 |  |

| DEPRECIATION

| At 1st April 2024 | 8,749 |  | 117,205 |  | 125,954 |  |

| Charge for year | 1,055 |  | 9,691 |  | 10,746 |  |

| At 31st March 2025 | 9,804 |  | 126,896 |  | 136,700 |  |

| NET BOOK VALUE

| At 31st March 2025 | 94,641 |  | 205,643 |  | 300,284 |  |

| At 31st March 2024 | 95,696 |  | 185,932 |  | 281,628 |  |

| The land and buldings represents the residual value of a leasehold premium and associated legal fees transferred from the parent company.

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 32,556 |  | 88,823 |  |

| Other debtors | 143 |  | 1,177 |  |

32,699 |  | 90,000 |  |

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 14,432 |  | 3,985 |  |

| Taxation and social security | (58 | ) | 6,821 |  |

| Other creditors | 54,020 |  | 125,351 |  |

68,394 |  | 136,157 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 47,884 |  | 69,653 |  |

| Other creditors | 143,493 |  | 186,546 |  |

191,377 |  | 256,199 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans more than a year | 143,493 |  | 186,546 |  |

8. | FINANCIAL COMMITMENTS

| The parent company previously entered into a 99 year lease in respect of property which houses the Hydro project turbine equipment. This lease was assigned to the company during March 2016, running until 29 March 2111, with the annual commitment being the greater amount of either £2,000 or 5% of the gross annual income attributable to the export of electricity to the national grid. The rent charge for the year, included in the financial statements, is £2,330. This property was purchased from the landlord during the year by the parent company, CCT. The lease with the former third party landlord has continued on the same terms with CCT.

| A lease commenced with the parent company on 3 May 2022 which runs until 29 March 2111 at an annual cost of £100. This is in respect of the use of land owned by the parent company.

| Other creditors includes the following secured loans:

| Scottish Investment Bank (REIF) - £ 55,092

| Social Investment Scotland (SIS) - £131,454

| Both loans were originally due to expire during 2026 but a further advance of £20,000 was received from SIS during 2021 which forms part of a consolidated loan facility now due to expire during 2030.

| Both of the funders also hold a floating charge over the company and a standard security over the company's tenant's interests in the lease disclosed above. In addition, they have been granted a guarantee by the parent company in respect of the above loan facilities.

CATRINE COMMUNITY RENEWABLES LTD (REGISTERED NUMBER: SC520799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

9. | GROUP STRUCTURE

| The parent company is Catrine Community Trust, a company limited by guarantee registered in Scotland (SC137493) and a Scottish registered charity (SC020088). It holds the entire share capital of Catrine Community Renewables Ltd.

| Expenditure during the period includes a contribution to the parent company of £12,000 (2024: £12,000) in respect of head office running costs.

| In addition, donations totalling £17,000 to the parent company include amounts accrued at the balance sheet date of £9,000 (2024: £82,000).