The directors present the strategic report for the year ended 31 October 2024.

The principal activity of the company continues to be that of a supplier of fully integrated, waste management solutions, specifically the processing of commercial/Industrial and Construction/Demolition waste.

The group monitors its financial performance through key performance indicators, which are as follows:

The principal risks and uncertainties faced by the company are the uncertain economic climate in which it currently trades. The directors and senior management team continually monitor such risks and regularly discuss how best to protect the business.

The UK waste market continues to be challenging particularly with respect to lower gate fees, higher operating and disposal costs. The business continues to concentrate on more traditional and recovery markets derived from the construction and demolition sector in the UK.

Following an operational review of the business in December 2024 and subsequent restructuring the outlook for the year ending 31 October 2025 and beyond is positive with the business returning to sustainable profitability.

On behalf of the board

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

The principal activity of the company continued to be that of waste recycling.

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £460,173. The directors do not recommend payment of a further dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In accordance with the company's articles, a resolution proposing that Champion Accountants LLP be reappointed as auditor of the company will be put at a General Meeting.

The directors are responsible for preparing the annual report and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period.

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

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

Qualified opinion on financial statements

We have audited the financial statements of Eco-Power Environmental Limited (the 'company') for the year ended 31 October 2024 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including 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, except for the effects of the matters described in the basis for qualified opinion paragraph, the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its loss 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 qualified opinion

The company's balance sheet includes balances in trade debtors, trade creditors and other debtors with a related party company, Eco-Power Skips Limited. In total these net to an amount due from Eco-Power Skips Limited of £1.87M. The directors have not provided for the impairment of this net balance due to the company on the basis that they consider the amount to be recoverable. In our opinion the net debtor balance is unlikely to be recovered, and therefore the balance should be written down by £1.87M to reflect its recoverable amount. The effect of this would be to reduce net assets and profit before tax by £1.87M.

The company's balance sheet includes a balance in other debtors of £1.11M with a related party company, G B M Promotions Limited. The directors have not provided for the impairment of this balance due to the company on the basis that they consider the amount to be recoverable. In our opinion there is insufficient evidence available to provide comfort that the balance is likely to be recovered, and therefore the balance should be written down by £1.11M to reflect its recoverable amount. The effect of this would be to reduce net assets and profit before tax by £1.11M.

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 qualified opinion.

Material uncertainty related to going concern

We draw attention to note 1.2 in the financial statements, which indicates that the company’s ability to continue as a going concern is dependent upon continued financial support from the wider Eco Power Group. We also draw attention to note 20 in the financial statements which detail numerous contingent liabilities. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.

Our opinion is not modified in respect of this matter.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves about the recovery of the net amounts due from Eco-Power Skips Limited of £1.87M and G B M Promotions Limited of £1.11M. We have concluded that where the other information refers to profit figures in the financial statements, they may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effect of the matters described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of our audit:

• the information given in the 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 strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Except for the matters described in the basis for qualified opinion section of our report, in light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

• the 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.

As explained more fully in the directors' responsibilities statement, 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 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 company or to cease operations, or have no realistic alternative but to do so.

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 auditor's 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 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:

Extent to which the audit is considered capable of detecting irregularities, including fraud

The responsibility for the prevention and detection of irregularities, including fraud, lies with the directors and with those charged with governance. The objectives of our audit in respect of irregularities and fraud are to assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient, appropriate audit evidence regarding the assessed risks and to respond appropriately to fraud or suspected fraud identified during the audit.

Audit procedures

We determine significant applicable laws and regulations through discussion with those charged with governance and our own knowledge of the industry and design audit procedures to help identify instances of non-compliance with those laws and regulations that may have a material effect on the financial statements.

We consider the applicable laws and regulations to be the financial reporting framework (FRS 102 and the Companies Act 2006), the relevant tax regulations in the UK, employment law and the Health and Safety at Work Act 1974.

We consider the control environment and the procedures in place to address identified risks, including management override, non-compliance with laws and regulations and to prevent and detect fraud or irregularity. Our procedures are designed to provide reasonable assurance that the financial statements are free from material misstatement or error and include: enquiries of management and of staff in key compliance functions; review of minutes of meetings of those charged with governance; review and testing of manual journals and significant transactions outside the normal course of business; review of financial statement disclosures and testing to supporting documentation; performance of analytical procedures.

We are not responsible for preventing non-compliance and due to the inherent limitations of an audit, as described above, the audit cannot be relied upon to detect all instances of non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 auditor's 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Eco-Power Environmental Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bankwood Processing Site, Bankwood Lane, Rossington, Doncaster, South Yorkshire, DN11 0PS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Eco-Power Environmental Holdings Limited. These consolidated financial statements are available from its registered office, Bankwood Lane Industrial Estate, Bankwood Lane, Rossington, Doncaster, South Yorkshire, DN11 0PS.

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

The directors have recognised the downturn in financial performance during the two years to 31 October 2024. There was an operational restructuring of the business in December 2024 with the expectation that the current trading year will see a return to profitability. The senior management team prepare detailed forecasts as part of their day to day operations to set out the short and medium cash flow needs. The business will continue to receive the support of other businesses within the wider Eco Power Group. As detailed in note 20 to these accounts, there is also a contingent liability that could affect the company's ability to continue as a going concern.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover also includes Renewable Heat Incentive income due in the period. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue is recognised on transfer of waste, at the point at which the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land is not depreciated. Management has concluded that the financial statements present fairly the entity's financial position and financial performance.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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, 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.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 company after deducting all of its 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.

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

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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are 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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation is provided to write down the assets over the estimated economic useful lives as set out in the Company's accounting policies. The selection of these estimated lives requires the exercise of management judgement. Useful lives are regularly reviewed and should management's assessment of useful lives change, then depreciation charges and carrying value of fixed assets in the financial statements would change accordingly.

The directors assess the recoverability of trade and other debtors on an ongoing basis. This assessment requires judgement in deciding whether the amounts due will be received in full.

The income included as exceptional in this year and the prior year relates to money received during an exclusivity period entered into by the company for the potential sale of assets, licences and intellectual property at its Hull Plant. The sale didn't complete with this buyer but under the terms of the legal agreement entered into the payments received during the exclusivity period belong to Eco-Power Environmental Limited absolutely. Also included this year is a correction to an amount written off in error in the prior year.

The expenses included as exceptional in the prior year relate to costs incurred to maintain the Hull Plant ahead of a sale.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

Included in amounts written off loans are various amounts no longer considered recoverable by the directors. These reflects a charge to the profit and loss account in the current and prior year which are not reflective of the underlying trade.

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Land with a carrying amount of £640,000 was revalued at 31 July 2017 by Bardill Barnard Ltd, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties The directors do not consider the current value at 31 October 2024 to be materially different.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Finance lease obligations are secured against the assets to which they relate. The carrying amount of these assets at the year end was £2,447,284 (2023: £6,364,319)

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

First contingent liability

HM Revenue & Customs has entered into correspondence with the company in respect of additional corporation tax and VAT that they consider is due. Various assessments have been received for the corporation tax but no formal assessment has yet been raised by H M Revenue & Customs for the VAT element.

Assessments received for additional corporation tax due total £2,166,036, which included interest to the date of the assessment. Potential penalties would be due in addition to these amounts.

The company strongly disputes the basis of the assessments received and the potential assessments for the VAT and, having taken professional advice, considers that it has strong grounds for contesting the claim. Accordingly, no provision has been made in the financial statements. The matter will be pursued through the appropriate appeals process. The ultimate outcome cannot be determined with certainty at this stage. Should the liability be proven to be due it would provide a material uncertainty with regards to going concern of the company.

Second contingent liability

In addition, the company historically received payments under a contractual arrangement in relation to a business deal. Under the terms of the agreement, the amounts received may be repayable although the company does not believe this to be the case and therefore no liability is included. The potential liability would have a material affect on the financial statements.

Guarantees

The company has granted a fixed and floating charge over its assets in favour of Lux Park Limited as continuing security for borrowings of £3million made to Eco-Power Environmental Holdings Limited. The company has not received any direct proceeds from the loan but benefits indirectly through group funding arrangements. No amounts have been demanded under this guarantee.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Eco-Power Environmental Limited is a wholly owned subsidiary of Eco-Power Environmental Group Limited. The ultimate parent undertaking and controlling party is Eco-Power Environmental Holdings Limited. The results of Eco-Power Environmental Limited are included in the consolidated financial statements of Eco-Power Environmental Holdings Limited whose registered office is Bankwood Processing Site, Bankwood Lane Industrial Estate, Bankwood Lane, New Rossington, Doncaster, DN11 0PS.

Mr M Jepson and Mr D Colakovic are beneficial shareholders in the ultimate parent undertaking, Eco-Power Environmental Holdings Limited.

During the year, the company entered into the following transactions with related parties:

ESC Investments Limited

ESC Investments Limited is a company in which Mr D Colakovic is a director and shareholder.

At the year end, the company was owed £284,100 (2023: £524,200) from ESC Investments Limited. This amount is included in other debtors.

Eco Power Properties Limited

Eco Power Properties Limited is a company under the control of Mr D Colakovic, Mr M Jepson and Mr L Higgins.

During the year the company received income of £nil (2023: £1,402) from Eco Power Properties Limited.

At the year end, the company owed £255,557 (2023: £152,505) to Eco Power Properties Limited. This amount is included in other creditors.

Bankwood Commercial Properties Limited

Bankwood Commercial Properties Limited is a company under the control of Mr D Colakovic and Mr M Jepson.

At the year end, the company was owed £nil (2023: £117,186) by Bankwood Commercial Properties Limited, following the debtor balance of £117,186 being written off following the company being dissolved.

Retford Wood Fuels Limited

Retford Wood Fuels Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.

At the year end, the company owed £nil (2023: £376,432) to Retford Wood Fuels Limited, following the company being dissolved and the balance being written off.

Eco Power Wood Fuels Limited

Eco Power Wood Fuels Limited is a company in which Mr M Jepson is a director and both Mr M Jepson and Mr D Colakovic have an interest.

£136,800 was written off in the current year. No amounts have been written off in the prior year.

At the year end, the company was owed £48,683 (2023: £1,113,957) from Eco Power Wood Fuels Limited. In addition, the company owed £61,589 (2023: £550,831) to Eco Power Wood Fuels Limited. This is included in other creditors.

Eco Power Construction Group Limited

Eco Power Construction Group Limited is a company under the control of Mr D Colakovic and Mr M Jepson.

At the year end, the company owed £nil (2023: £100,002) to Eco Power Construction Group Limited. This amount is included in other creditors.

Eco-Railfreight Limited

Eco-Railfreight Limited is a company in which Mr M Jepson and Mr D Colakovic hold an interest.

During the year, the company made sales of £nil (2023: £5,354) to Eco-Railfreight Limited. During the year, the company made purchases of £2,542 (2023: £418,817) from Eco-Railfreight Limited.

At the year end, the company owed £324,509 (2023: £342,191) to Eco-Railfreight Limited. This amount is included in other creditors.

Eco-Power Fuels Limited

Eco-Power Fuels Limited is a company in which Mr L Calders and Mr M Graves were directors during the year and hold an interest. In addition, Mr D Colakovic and Mr M Jepson hold an interest.

At the year end, the company was owed £nil (2023: £32,845) by Eco-Power Fuels Limited. £32,845 was written off in the current year. No amounts have been written off in the prior year.

Eco Power Skips Limited

Eco-Power Skips Limited is a company in which Mr L Calders and Mr M Graves are directors and Mr M Jepson and Mr D Colakovic have an interest.

During the year, the company made sales of £646,938 (2023: £2,418,765) to Eco-Power Skips Limited. During the year the company made purchases of £12,217 (2023: £690,009) from Eco-Power Skips Limited.

At the year end, the company was owed £1,865,492 (2023: £3,095,459) by Eco-Power Skips Limited.

Eco Power Surfacing Limited

Eco Power Surfacing Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.

At the year end, the company owed £10,266 (2023: £169,866) to Eco Power Surfacing Limited. This amount is included in other creditors.

Commercial Heating & Drying Limited

Commercial Heating & Drying Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.

During the year, the company made sales of £24,669 (2023: £nil) to Commercial Heating & Drying Limited.

At the year end, the company was owed £410,314 (2023: £445,156) by Commercial Heating & Drying Limited. This amount is included in other debtors.

Eco Power Civil Engineering Limited

Eco Power Civil Engineering Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.

During the year, the company made sales credit notes of £16,958 (2023: £nil) to Eco Power Civil Engineering Limited. During the year the company made purchases of £212,816 (2023: £nil) from Eco Power Civil Engineering Limited.

At the year end, the company was owed £717,689 (2023: £296,556) by Eco Power Civil Engineering Limited. This amount is included in other debtors.

Eco Power Recruitment Holdings Limited

Eco Power Recruitment Holdings Limited is a company in which Mr L Calders, Mr M Jepson and Mr D Colakovic have an interest.

At the year end, the company was owed £nil (2023: £152,195) by Eco Power Recruitment Holdings Limited. During the year £36,076 due from Eco Power Recruitment Holdings Limited was written off as the loan was written off as part of the sale of the company.

Eco Power Metals Limited

Eco Power Metals Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calders and Mr L Jepson are directors.

During the year, the company made sales of £26,122 (2023: £nil) to Eco Power Metals Limited.

At the year end, the company was owed £454,497 (2023: £33,176) by Eco Power Metals Limited. This amount is included in other debtors.

Eco Power Racing Limited

Eco Power Racing Limited is a company in which Mr D Colakovic has an interest.

During the year, the company made sales of £8,542 (2023: £nil) to Eco Power Racing Limited.

At the year end, the company was owed £1,709,758 (2023: £172,328) by Eco Power Racing Limited. This amount is included in other debtors.

Eco Power Health and Wellness Clinic Limited

Eco Power Health and Wellness Clinic Limited is a company in which Mr D Colakovic has an interest.

During the year the company made purchases of £1,286 (2023: £nil) from Eco Power Health and Wellness Clinic Limited.

At the year end, the company was owed £405,013 (2023: £230,802) by Eco Power Health and Wellness Clinic Limited.

Directors' Current Accounts
Directors' current account balances included in other debtors at the year end total £52,100 (2023: £22,600). The outstanding amounts are repayable on demand and no interest was charged on the loans in the year.

Eco Power Environmental Group Limited

Eco Power Environmental Group Limited is the parent company of Eco Power Environmental Limited. Included in amounts due to group at the year end is a balance of £2,040,150 (2023: £457,500) due from the company to Eco Power Environmental Group.

Eco Power Environmental Holdings Limited

Eco Power Environmental Holdings Limited is the ultimate parent company of Eco Power Environmental Limited. Included in amounts due to group at the year end is a balance of £1,812,049(2023: £715,500) due from the company to Eco Power Environmental Holdings Limited.

Wroot Drying Services Limited

Wroot Drying Services Limited is a wholly owned fellow subsidiary of Eco Power Environmental Group Limited. Included in amounts due to group at the year end is a balance of £690,230 (2023: £218,200) due from the company to Wroot Drying Services Limited.

Eco Power Green Energy Limited

Eco Power Green Energy Limited was a wholly owned fellow subsidiary of Eco Power Environmental Group Limited until it was sold on 11 March 2024.

During the year, the company made sales of £nil (2023: £346,455) to Eco Power Green Energy Limited. During the year the company made purchases of £nil (2023: £347,040) from Eco Power Green Energy Limited.

At the year end, the company was owed £nil (2023: £582) due from the company to Eco Power Green Energy Limited.

Eco-Power Engineering Limited

Eco-Power Engineering Ltd is a company which Mr M Jepson has an interest and Mr L Calders is a director.

During the year, the company made sales of £363 (2023: £nil) to Eco-Power Engineering Limited. During the year the company made purchases of £73,610 (2023: £nil) from Eco-Power Engineering Limited.

At the year end, the company was owed £nil (2023: £nil) by Eco Power Engineering Limited. £62,477 was written off in the current year. No amounts have been written off in the prior year.

Eco Power Star Design Interiors Limited

Eco Power Star Design Interiors Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calder is a director.

During the year, the company made sales of £8,590 (2023: £nil) to Eco Power Star Design Interiors Limited. During the year the company made purchases of £21,160 (2023: £nil) from Eco Power Star Design Interiors Limited.

At the year end, the company was owed £nil (2023: £40,794) by Eco Power Star Design interiors Limited. £360,946 was written off in the current year. No amounts have been written off in the prior year.

Eco-Power Priority One Security Limited

Eco Power Priority One Security Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calders is a director.

During the year, the company made sales of £3,855 (2023: £nil) to Eco-Power Priority One Security Limited. During the year the company made purchases of £43,196 (2023: £nil) from Eco-Power Priority One Security Limited.

At the year end, the company owed £12,988 (2023: £nil) to Eco-Power Priority One Security Limited. This amount is included in other creditors.

Eco-Power Plant Hire Limited

Eco-Power Plant Hire Limited is a company in which Mr D Colakovic has an interest.

During the year the company made purchases of £23,321 (2023: £nil) from Eco-Power Plant Hire Limited.

At the year end, the company owed £30,213 (2023: £nil) to Eco-Power Plant Hire Limited. This amount is included in other creditors.

Eco Tyres Limited

Eco Tyres Limited is a company indirectly controlled by Mr David Colakovic.

During the year the company made purchases of £1,304 (2023: £nil) from Eco Tyres Limited.

At the year end, the company owed £643 (2023: £nil) to Eco Tyres Limited. This amount is included in other creditors.

Eco-Power Facilities Management Limited

Eco Power Facilities Management Limited is a company in which Mr L Higgins and Mr D Colakovic have an interest and Mr L Calders and Mr L Higgins are directors.

During the year, the company made sales of £27,000 (2023: £nil) to Eco-Power Facilities Management Limited.

At the year end, the company owed £nil (2023: £nil) to Eco-Power Facilities Management Limited. £62,080 was written off in the current year. No amounts have been written off in the prior year.

Eco-Power Renewable Energy Limited

Eco-Power Renewable Energy Limited is a company indirectly controlled by Mr David Colakovic.

At the year end, the company was owed £nil (2023: £nil) by Eco Power Engineering Limited. £84,078 was written off in the current year. No amounts have been written off in the prior year.

JMS Haulage Limited

JMS Haulage Limited is a company indirectly controlled by Mr David Colakovic.

During the year, the company made sales of £2,510 (2023: £nil) to JMS Haulage Limited . During the year the company made purchases of £2,087,338 (2023: £nil) from JMS Haulage Limited. At the year end, there were amounts of £331,730 due to JMS Haulage Limited (2023: £nil).

GBM Promotions Limited

GBM Promotions Limited is a company indirectly controlled by Mr David Colakovic.

At the year end, Eco-Power Environmental Limited was owed £1,110,647 (2023: £nil) from GBM Promotions Limited.

Loans to participators

At the year end, a balance of £410,510 (2023: £nil) was owed to Eco-Power Environmental Limited by Mr D Colakovic, a beneficial shareholder in the ultimate parent undertaking, Eco-Power Environmental Holdings Limited. The balance resulted from a loan in the period and interest is to be charged at the official beneficial loan interest rate on the amount due.