LCC Power Limited 31/03/2025 iXBRL

Deferred tax (note 17)

At 1 April 2024 and 31 March 2025

Company registration number: NI608111

LCC Power Limited

Financial statements

31 March 2025

LCC Power Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

LCC Power Limited

Directors and other information


Directors	Mr Daniel Loughran
	Mr Michael O Loughran
	Mr Michael C Loughran
	Mrs Laura Loughran	(Appointed 20 March 2025)


Secretary	Michael C Loughran


Company number	NI608111


Registered office	16 Churchtown Road
	Cookstown
	Co Tyrone
	BT80 9XD


Auditor	ASM (D) Ltd
	79 Cunninghams Lane
	Dungannon
	Co Tyrone
	BT71 6BX




	Bankers	Danske Bank
		Donegall Square West
		Belfast
		Co Antrim

		HSBC Bank Plc
		1 Grand Canal Square
		Grand Canal Harbour
		Dublin 2
		Ireland


	Solicitors	Millar, McCall, Wylie
		3rd Floor The Printworks
		35-39 Queen Street
		Belfast
		Co Antrim
		BT1 6EA

LCC Power Limited

Strategic report

Year ended 31 March 2025

Review of business and future developments

The company operates under the 'Go Power' brand and are a leading energy provider, supplying electricity and natural gas to businesses across Northern Ireland.The results for the year reflect an increase in the number of connections and also the amount of ebergy supplied. The results are in line with management's expectations. The current financial year is expected to show a similar picture.

Key financial performance indicators are summarised below:

Gross profit £13.62m (2024: £10.62m)

Gross profit margin 8.2% (2024: 7.7%)

Net assets/(liabilities) £8.27m (2024 : £10.70m)

Environment

The company recognises its corporate responsibility to carry out its operations whilst minimising environmental impacts. The directors’ continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

Health and safety

The company is committed to achieving the highest practicable standards in health and safety management and strives to make all premises safe environments for employees and customers alike.

Price risk

All electric bought and sold across the island of Ireland is traded through I-SEM. The company is exposed to potential price and volume resettlements in the balancing market. At the balance sheet date the company has provided for all known liabilities.

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers and deposits to be held, where appropriate, before sales are made. The amount of exposure to individual customers is monitored by the board.

Interest rate cash flow risk

The company has both interest bearing assets and interest bearing liabilities, both of which bear interest at variable rates. The future cash flows of the company's operation are not sufficiently at risk due to interest rate changes to require funding at fixed rate. The appropriateness of this policy will be revisited should the company's operations change in size or nature.

Foreign risk

The company has little or no exposure to foreign currencies in the course of normal trading operations.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr Daniel Loughran

Director

LCC Power Limited

Directors report

Year ended 31 March 2025

The directors present their report and the financial statements of the company for the year ended 31 March 2025.

Directors

The directors who served the company during the year were as follows:


Mr Daniel Loughran
Mr Michael O Loughran
Mr Michael C Loughran
Mrs Laura Loughran				(Appointed 20 March 2025)

Dividends

A dividend of £10,000,000 was paid in the period (2024: £Nil) and the directors do not recommend the payment of a final dividend.

Greenhouse gas emissions and energy consumption

Information not included

Reporting obligations under Streamlined Energy and Carbon Reporting (SECR) are not required on the basis that the company qualifies as a low energy user.

Employee involvement

The company's most important resource is its people; their knowledge and experience is crucial to meeting customer requirements. Retention of key staff is critical and the company has invested in relevant employment training and development and has in place appropriate incentive and career progression arrangements.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors 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 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 judgments and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr Daniel Loughran

Director

LCC Power Limited

Independent auditor's report to the members of

LCC Power Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of LCC Power Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit 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 opinion

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 opinion.

Conclusions relating to going concern

In auditing the financial statements, We have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work We have performed, We have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If We identify such material inconsistencies or apparent material misstatements, We are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the 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 has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the 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 where 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 the 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.

Responsibilities of directors

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.

Auditor's responsibilities for the audit of the financial statements

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: We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which they operate and considered the risk of acts by the Company that were contrary to appliable law and regulations, including fraud. We considered the opportunities and incentives that may exist within the Company for fraud and identified the greatest potential for fraud in the following areas: mismanagement of payments, posting of unusual journals together with complex transactions, revenue recognition and subjectivity of valuations used for land and buildings. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Our audit procedures included: enquires of management about their own identification and assessment of risks of irregularities, specific tests of detail over payments, sample testing of journals posted during the year, verifying the underlying assumptions adopted for the property valuations, specific tests of detail over revenue recognition and a review of areas of judgement for indicators of management bias to address the risks. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at 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 auditors 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.

Alistair Cooke (Senior Statutory Auditor)

For and on behalf of

ASM (D) Ltd

Chartered Accountant and Registered Auditor

79 Cunninghams Lane

Dungannon

Co Tyrone

BT71 6BX

26 September 2025

LCC Power Limited

Statement of comprehensive income

Year ended 31 March 2025

		2025	2024
	Note	£	£


Turnover	4	166,230,867	137,203,293
Cost of sales		( 152,578,294)	( 126,604,766)
		_______	_______
Gross profit		13,652,573	10,598,527

Administrative expenses		( 3,445,712)	( 2,449,095)
		_______	_______
Operating profit	5	10,206,861	8,149,432

Other interest receivable and similar income	7	59,909	11,236
Interest payable and similar expenses	8	( 195,580)	( 257,132)
		_______	_______
Profit before taxation		10,071,190	7,903,536

Tax on profit	9	( 2,525,988)	( 1,983,428)
		_______	_______
Profit for the financial year and total comprehensive income		7,545,202	5,920,108
		_______	_______

All the activities of the company are from continuing operations.

LCC Power Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	11	171,955		114,390
		_______		_______
			171,955		114,390

Current assets
Debtors	12	27,988,757		17,390,210
Cash at bank and in hand		5,514,241		10,871,191
		_______		_______
		33,502,998		28,261,401
Creditors: amounts falling due
within one year	14	( 25,343,459)		( 17,652,454)
		_______		_______
Net current assets			8,159,539		10,608,947
			_______		_______
Total assets less current liabilities			8,331,494		10,723,337

Creditors: amounts falling due
after more than one year	15		( 62,953)		-

Provisions for liabilities	16		( 1,800)		( 1,800)

			_______		_______
Net assets			8,266,741		10,721,537
			_______		_______

Capital and reserves
Called up share capital	19		100		100
Profit and loss account	20		8,266,641		10,721,437
			_______		_______
Shareholders funds			8,266,741		10,721,537
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr Daniel Loughran

Director

Company registration number: NI608111

LCC Power Limited

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	100	4,801,329	4,801,429

Profit for the year		5,920,108	5,920,108
	_______	_______	_______
Total comprehensive income for the year	-	5,920,108	5,920,108

	_______	_______	_______
At 31 March 2024 and 1 April 2024	100	10,721,439	10,721,539

Profit for the year		7,545,202	7,545,202
	_______	_______	_______
Total comprehensive income for the year	-	7,545,202	7,545,202

Dividends paid and payable		( 10,000,000)	( 10,000,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 10,000,000)	( 10,000,000)

	_______	_______	_______
At 31 March 2025	100	8,266,641	8,266,741
	_______	_______	_______

LCC Power Limited

Statement of cash flows

Year ended 31 March 2025

		2025	2024
	Note	£	£

Cash flows from operating activities
Profit for the financial year		7,545,202	5,920,108

Adjustments for:
Depreciation of tangible assets		49,640	50,040
Other interest receivable and similar income		( 59,909)	( 11,236)
Interest payable and similar expenses		195,580	257,132
Gain/(loss) on disposal of tangible assets		-	( 539)
Tax on profit		2,525,988	1,983,428
Accrued expenses/(income)		( 694,542)	914,866

Changes in:
Trade and other debtors		( 10,598,547)	2,291,316
Trade and other creditors		3,092,166	(480,434)
		_______	_______
Cash generated from operations		2,055,578	10,924,681

Interest paid		( 195,580)	( 257,132)
Interest received		59,909	11,236
Tax paid		(1,662,316)	(2,476,370)
		_______	_______
Net cash from operating activities		257,591	8,202,415
		_______	_______

Cash flows from investing activities
Purchase of tangible assets		( 107,204)	( 20,730)
Proceeds from sale of tangible assets		-	4,802
		_______	_______
Net cash used in investing activities		( 107,204)	( 15,928)
		_______	_______

Cash flows from financing activities
Proceeds from loans from group undertakings		8,980,568	1,119,057
Payment of finance lease liabilities		103,330	-
Equity dividends paid		( 10,000,000)	-
		_______	_______
Net cash (used in)/from financing activities		( 916,102)	1,119,057
		_______	_______

Net increase/(decrease) in cash and cash equivalents		( 765,715)	9,305,544
Cash and cash equivalents at beginning of year	13	6,278,445	(3,027,099)
		_______	_______
Cash and cash equivalents at end of year	13	5,512,730	6,278,445
		_______	_______

LCC Power Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in N Ireland. The address of the registered office is 16 Churchtown Road, Cookstown, Co Tyrone, BT80 9XD.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible assets	49,640	50,040
(Gain)/loss on disposal of tangible assets	-	( 539)
Impairment of trade debtors	171,478	1,969
Research and development expenditure written off	350,000	-
Foreign exchange differences	( 35,585)	( 43,187)
Fees payable for the audit of the financial statements	16,500	10,375

6. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
Administrative staff	4	3
Sales	28	31
	_______	_______
	32	34
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	973,763	991,758
Social security costs	100,292	106,168
Other pension costs	40,683	41,707
	_______	_______
	1,114,738	1,139,633
	_______	_______

7. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	21,326	11,236
Other interest receivable and similar income	38,583	-
	_______	_______
	59,909	11,236
	_______	_______

8. Interest payable and similar expenses

		2025	2024
		£	£
Bank loans and overdrafts		194,115	257,132
Other loans made to the company:
	Finance leases and hire purchase contracts	1,465	-
		_______	_______
		195,580	257,132
		_______	_______

9. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	2,525,988	1,975,371
Adjustments in respect of previous periods	-	8,057
	_______	_______
Tax on profit	2,525,988	1,983,428
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	10,071,190	7,903,536
	_______	_______

Profit multiplied by rate of tax	2,517,798	1,975,884
Adjustments in respect of prior periods	-	8,057
Effect of expenses not deductible for tax purposes	7,264	2,691
Unrecognised deferred tax movement	32,273	31,347
Underprovision in prior year corporation tax	-	514
(Under) over provision in prior years -deferred tax	( 31,347)	( 35,065)
	_______	_______
Tax on profit	2,525,988	1,983,428
	_______	_______

10. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	10,000,000	-
	_______	_______

11. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	412,280	308,453	720,733
Additions	833	106,371	107,204
	_______	_______	_______
At 31 March 2025	413,113	414,824	827,937
	_______	_______	_______
Depreciation
At 1 April 2024	336,828	269,514	606,342
Charge for the year	32,071	17,569	49,640
	_______	_______	_______
At 31 March 2025	368,899	287,083	655,982
	_______	_______	_______
Carrying amount
At 31 March 2025	44,214	127,741	171,955
	_______	_______	_______
At 31 March 2024	75,452	38,939	114,391
	_______	_______	_______

12. Debtors

	2025	2024
	£	£
Trade debtors	20,682,991	13,897,000
Amounts owed by group undertakings	3,650,556	61,444
Prepayments and accrued income	255,494	233,520
Other debtors	3,399,716	3,198,246
	_______	_______
	27,988,757	17,390,210
	_______	_______

13. Cash and cash equivalents

	2025	2024
	£	£
Cash at bank and in hand	5,514,241	10,871,191
Bank overdrafts	( 1,511)	( 4,592,746)
	_______	_______
	5,512,730	6,278,445
	_______	_______

14. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,511	4,592,746
Trade creditors	3,323,518	2,641,770
Amounts owed to group undertakings	11,229,122	2,248,554
Accruals and deferred income	5,475,820	6,170,362
Corporation tax	863,671	-
Social security and other taxes	3,605,619	1,251,059
Obligations under finance leases	40,377	-
Other creditors	803,821	747,963
	_______	_______
	25,343,459	17,652,454
	_______	_______

The bank overdraft is secured by floating charge over the assets of the company plus an unlimited inter-company cross guarantee between LCC Power Limited and LCC Group Limited. Letters of credit totalling £2,121,400 issued from Soni Limited, £2,700,000 issued from Northern Ireland Electricity, €1,970,000 issued from Macquarie Bank International Limited are in place. Obligations under hire purchase contracts totalling £103,330 (2024: £Nil) are secured on the assets for which this finance was originally obtained.

15. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases	62,953	-
	_______	_______

16. Provisions

17. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 16)	1,800	1,800
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,800	1,800
	_______	_______

18. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 40,683 (2024: £ 41,707 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

20. Reserves

Profit and loss accountThis reserve records cumulative profits or losses, net of dividends paid. This reserve is distributable in full.

21. Analysis of changes in net debt

	At 1 April 2024	Cash flows	At 31 March 2025
	£	£	£
Cash and cash equivalents	10,871,191	(5,356,950)	5,514,241
Bank overdrafts	(4,592,746)	4,591,235	(1,511)
	_______	_______	_______
	6,278,445	( 765,715)	5,512,730
	_______	_______	_______

22. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	74,000	74,000
	_______	_______

23. Related party transactions

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

	Transaction value	Balance owed by /(owed to)
	2025	2025
	£	£
Group entities	7,045,399	7,578,566
	_______	_______

Transactions with and balances owed by fellow group entities are disclosed above .

24. Controlling party

The ultimate parent of the company is LCC Holdings Ltd , a company with a registered address of 6th Floor, Victory House, Prospect Hill, Douglas, Isle of Man.