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Registered number: 12481022
CAMBRIDGE POWER LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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CAMBRIDGE POWER LIMITED
REGISTERED NUMBER: 12481022
BALANCE SHEET
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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Creditors: amounts falling due after more than one year
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CAMBRIDGE POWER LIMITED
REGISTERED NUMBER: 12481022
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 9 form part of these financial statements.
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Cambridge Power Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.
The principal trading address is Linden Square, 146 Kings Road, Bury St Edmunds, Suffolk, IP33 3DJ.
The Company’s functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors acknowledge that the planning and development of battery storage sites carries certain risks around planning consents and availability of grid capacity. The company’s cash inflows rely upon the disposal of its project related assets. There have been disposal activities subsequent to the balance sheet.
Cash flow forecasts prepared by the directors covering a period of 12 months from the date of approval of these financial statements demonstrate the company has sufficient funds to continue to meet its liabilities as they fall due and therefore have prepared the financial statements on a going concern basis.
Turnover comprises consultancy and advisory services in relation to battery storage sites, rental and other sundry income recognised by the Company during the year, exclusive of Value Added Tax.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
DEFINED CONTRIBUTION PENSION PLAN
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Stocks and work in progress are valued at the lower of cost and net realisable value and comprise development costs capitalised and carried forward under ongoing projects.
Capitalised development costs are written off to the profit and loss account in the period in which losses are first foreseen.
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.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not 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.
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.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The average monthly number of employees, including unpaid directors, during the year was 6 (2024 – 17).
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Charge for the year on owned assets
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charge for the year on owned assets
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Investments in subsidiary companies
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Amounts owed by group undertakings
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Prepayments and accrued income
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Included within other creditors are amounts due to defined contribution pension schemes of £NIL (2024 - £6,820).
Other loans comprise:
- A facility that commenced on 13 January 2023, that is transacted on an interest only basis, levied at a rate of 10% over the Bank of England base rate. The loan is secured by legal charges over shares in the Company and its subsidiaries. The first two repayment tranches are due by 13 January 2026.
- A facility that commenced on 21 May 2024, that is transacted on an interest only basis, levied at a rate of 10% over the Bank of England base rate. The loan is secured by legal charges over shares in the Company and its subsidiaries. The facility is repayable at the earlier of a sale of a subsidiary or 12 months from the date of the agreement.
- An unsecured interest-free loan that commenced on 4 January 2023, that is repayable on demand.
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CAMBRIDGE POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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Other loans comprise a facility that commenced on 13 January 2023, that is transacted on an interest only basis, levied at a rate of 10% over the Bank of England base rate. The loan is secured by legal charges over shares in the Company and its subsidiaries. The final repayment tranche is due by 13 January 2027.
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ALLOTTED, CALLED UP AND FULLY PAID
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9,237 Ordinary shares of £0.10 each
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237 Deferred shares of £0.10 each
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At 31 March 2024, there were 9,474 Ordinary shares in issue.
On 12 July 2024, 225 Ordinary shares were redesignated as Deferred shares.
On 15 July 2024, 12 Ordinary shares were redesignated as Deferred shares.
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Interest payable previously accrued over the term of a loan but it was determined during the year that the interest should have been rolled up with the capital repayment at the end of the term. Therefore, to better reflect the substance of the transaction the previously accrued interest payable has been reversed.
The corporation tax position for previous years has been amended accordingly. The overall impact on opening reserves at 1 April 2024 is an increase of £1,875,016.
13.OTHER FINANCIAL COMMITMENTS
Total financial commitments, guarentees and contingencies that are not included in the balance sheet amount to £243,476 (2024 - £336,886).
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