REGISTERED NUMBER: 06759707 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LOWER REULE BIOENERGY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C M Waters

C J Wright

SECRETARY:

Hawksmoor Partners Limited

REGISTERED OFFICE:

The Old School

High Street

Stretham

Ely

CB6 3LD

REGISTERED NUMBER:

06759707 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

6,900,878

6,994,461

CURRENT ASSETS

Stocks

13,984

13,984

Debtors

6

3,987,090

3,995,250

Prepayments and accrued income

39,948

25,706

Cash at bank

36,273

65,585

4,077,295

4,100,525

CREDITORS

Amounts falling due within one year

7

646,755

421,887

NET CURRENT ASSETS

3,430,540

3,678,638

TOTAL ASSETS LESS CURRENT LIABILITIES

10,331,418

10,673,099

CREDITORS

Amounts falling due after more than one year

8

(20,946,976

)

(19,653,889

)

ACCRUALS AND DEFERRED INCOME

(3,859

)

(7,331

)

NET LIABILITIES

(10,619,417

)

(8,988,121

)

CAPITAL AND RESERVES

Called up share capital

287

287

Retained earnings

(10,619,704

)

(8,988,408

)

SHAREHOLDERS' FUNDS

(10,619,417

)

(8,988,121

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23rd October 2025 and were signed on its behalf by:

C M Waters - Director

C J Wright - Director

1.	STATUTORY INFORMATION

Lower Reule Bioenergy Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06759707 and the registered office address is The Old School, High Street, Stretham, Ely, CB6 3LD. The trading address is Brookfield Farm, Cowley, Gnosall, Staffordshire, ST20 0BG.

The principal activity of the company is that of the production of electricity.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Functional currency

The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Related party exemption

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.

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company. It may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, stock, tangible fixed assets and provisions are its critical accounting policies.

Turnover

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

Turnover represents the value of goods and services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

Straight line over 15 years

Plant and machinery

-

Straight line over 15 years

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Included with land and buildings is land which is not depreciated.

Stocks

Stocks are measured at an actual cost rate. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Going concern

The company receives significant financial support from Privilege Project Finance Ltd.

This will continue and the directors believe that it is therefore appropriate to continue to prepare the accounts on the going concern basis.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

buildings

machinery

fittings

£

£

£

COST

At 1st January 2024

500,604

3,317,903

5,971

Additions

-

-

-

Disposals

-

(26,989

)

(166

)

At 31st December 2024

500,604

3,290,914

5,805

DEPRECIATION

At 1st January 2024

430,077

2,724,167

5,887

Charge for year

2,978

91,528

80

Eliminated on disposal

-

(26,925

)

(162

)

At 31st December 2024

433,055

2,788,770

5,805

NET BOOK VALUE

At 31st December 2024

67,549

502,144

-

At 31st December 2023

70,527

593,736

84

Assets

Motor

under

vehicles

construction

Totals

£

£

£

COST

At 1st January 2024

175,894

6,319,800

10,320,172

Additions

-

8,618

8,618

Disposals

(162,164

)

-

(189,319

)

At 31st December 2024

13,730

6,328,418

10,139,471

DEPRECIATION

At 1st January 2024

165,580

-

3,325,711

Charge for year

1,366

-

95,952

Eliminated on disposal

(155,983

)

-

(183,070

)

At 31st December 2024

10,963

-

3,238,593

NET BOOK VALUE

At 31st December 2024

2,767

6,328,418

6,900,878

At 31st December 2023

10,314

6,319,800

6,994,461

Included in cost of land and buildings is freehold land of £ 55,000 (2023 - £ 55,000 ) which is not depreciated.

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

68,209

79,929

Other debtors

8,686

5,126

76,895

85,055

2024

2023

£

£

Amounts falling due after more than one year:

Other debtors

3,910,195

3,910,195

Aggregate amounts

3,987,090

3,995,250

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

642,539

417,671

Taxation and social security

4,216

4,216

646,755

421,887

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

20,946,976

19,653,889

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Privilege Project Finance Ltd

20,946,976

19,653,889

The loan from Privilege Project Finance Ltd is secured by a debenture containing a fixed and floating charge over the company's assets and also by charges over the property at Brookfield Farm and part of Lower Reule Farm, Gnosall, Stafford.

10.	ULTIMATE PARENT COMPANY

The ultimate parent company is Lower Reule Bidco Limited, whose registered office is The Old School, High Street, Stretham, Ely, England, CB6 3LD.