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Company No: SC379204 (Scotland)

# STUARTFIELD WIND POWER LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

STUARTFIELD WIND POWER LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

STUARTFIELD WIND POWER LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
STUARTFIELD WIND POWER LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,008,515 |  | 1,159,792
|  | 1,008,515 |  | 1,159,792
Current assets |  |  |  |
Debtors | 4 | 303,037 |  | 262,572
Cash at bank and in hand |  | 2,397,935 |  | 2,102,288
|  | 2,700,972 |  | 2,364,860
Creditors: amounts falling due within one year | 5 | ( 362,375) |  | ( 346,492)
Net current assets |  | 2,338,597 |  | 2,018,368
Total assets less current liabilities |  | 3,347,112 |  | 3,178,160
Creditors: amounts falling due after more than one year | 6 | 0 |  | ( 151,062)
Provision for liabilities |  | ( 198,214) |  | ( 224,869)
Net assets |  | 3,148,898 |  | 2,802,229
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1,000 |  | 1,000
Profit and loss account |  | 3,147,898 |  | 2,801,229
Total shareholders' funds |  | 3,148,898 |  | 2,802,229

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Stuartfield Wind Power Limited (registered number: SC379204) were approved and authorised for issue by the Director on 04 November 2025. They were signed on its behalf by:

George Howie Director |

STUARTFIELD WIND POWER LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
STUARTFIELD WIND POWER LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

Stuartfield Wind Power Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1 East Craibstone Street, Aberdeen, AB11 6YQ, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

The current reporting period covers a 12 month period to 31 March 2025 and the comparative reporting period covered 10 months, therefore the comparative figures presented in the financial statements are not entirely comparable. The year end was changed due to the partnership being affected by basis period reform.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover represents amounts receivable for the production of electricity through wind power and use of renewable resources net of VAT and is recognised at point of invoice.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews 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).

Financial assets
Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 01.06.2023 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 2

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 3,025,541 |  | 3,025,541
At 31 March 2025 | 3,025,541 |  | 3,025,541
Accumulated depreciation |  |  |
At 01 April 2024 | 1,865,749 |  | 1,865,749
Charge for the financial year | 151,277 |  | 151,277
At 31 March 2025 | 2,017,026 |  | 2,017,026
Net book value |  |  |
At 31 March 2025 | 1,008,515 |  | 1,008,515
At 31 March 2024 | 1,159,792 |  | 1,159,792

#### 4. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade debtors | 0 |  | 47,814
Corporation tax | 3,398 |  | 3,398
Other debtors | 299,639 |  | 211,360
| 303,037 |  | 262,572

#### 5. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans (secured) | 117,375 |  | 118,037
Taxation and social security | 190,695 |  | 183,668
Other creditors | 54,305 |  | 44,787
| 362,375 |  | 346,492

Bank loans are secured with a floating charge over all assets of the company.

#### 6. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans (secured) | 0 |  | 151,062

Bank loans are secured with a floating charge over all assets of the company.

#### 7. Called-up share capital

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
550 A ordinary shares of £ 1.00 each | 550 |  | 550
450 B ordinary shares of £ 1.00 each | 450 |  | 450
| 1,000 |  | 1,000

#### 8. Related party transactions

Transactions with owners holding a participating interest in the entity

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Amounts due (to)/from directors | (9,933) |  | 10,067

This loan is interest free and has no set repayment terms.

Other related party transactions

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Amount due to unincorporated business in which the directors are materially interested | 506 |  | 506

This loan is interest free and there are no fixed repayment terms.