REGISTERED NUMBER: 07832371 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Stanley Renewable Energy Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Stanley

P Stanley

Ms A Caston

Ms H J Cobb

S J Bailey

D J Williams

REGISTERED OFFICE:

C/o Hardcastle Burton

Lake House

Market Hill

Royston

SG8 9JN

REGISTERED NUMBER:

07832371 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

1,285,181

1,428,550

CURRENT ASSETS

Stocks

7,094

10,656

Debtors

5

133,428

240,451

Cash at bank

68,841

128,321

209,363

379,428

CREDITORS

Amounts falling due within one year

6

424,189

597,297

NET CURRENT LIABILITIES

(214,826

)

(217,869

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,070,355

1,210,681

CREDITORS

Amounts falling due after more than one year

7

(2,736,708

)

(2,747,349

)

PROVISIONS FOR LIABILITIES

10

(50,000

)

(47,844

)

NET LIABILITIES

(1,716,353

)

(1,584,512

)

CAPITAL AND RESERVES

Called up share capital

11

782

782

Share premium

12

349,718

349,718

Retained earnings

12

(2,066,853

)

(1,935,012

)

SHAREHOLDERS' FUNDS

(1,716,353

)

(1,584,512

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 29 December 2025 and were signed on its behalf by:

Ms A Caston - Director

1.	STATUTORY INFORMATION

Stanley Renewable Energy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's place of business is Ponsonby Old Hall Farm, Calderbridge, Seascale, Cumbria, CA20 1BX.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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

The accounts have been prepared on a going concern basis despite the net liabilities of £1,716,353 (2023: £1,584,512). The directors have a reasonable expectation that the company has adequate resources to continue to trade for the foreseeable future. Furthermore, after the year end an amount owed to its parent company of £2,736,708 plus interest was waived, which returns the company to a net asset position.

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 sales of electricity units generated, and the value of Renewable Heat Incentives which are recognised upon generation of the electricity.

Government schemes including the Non-Domestic Renewable Heat Incentive and Feed-in Tariff are received as part of the company's principal activity of producing renewable energy. This is recognised as turnover when there is reasonable assurance that the conditions have been met and the income will be received.

Tangible fixed assets

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

Plant and machinery 5% to 20% straight line basis

Decommission provision in accordance with the lease term

The carrying value of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans 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.

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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Decommissioning provision

Costs associated with decommissioning the site at the end of the lease term is capitalised in Plant and Machinery at the point where the expected costs can be estimated reliably. The net present value of the expected costs at the end of the lease are included as a provision.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

2,485,673

Additions

20,108

Disposals

(43,741

)

At 31 December 2024

2,462,040

DEPRECIATION

At 1 January 2024

1,057,123

Charge for year

141,786

Eliminated on disposal

(22,050

)

At 31 December 2024

1,176,859

NET BOOK VALUE

At 31 December 2024

1,285,181

At 31 December 2023

1,428,550

Plant and Machinery includes a decommissioning provision with a net book value of £12,404 (2023: £14,232)

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade debtors

4,342

6,317

VAT

8,568

12,006

Prepayments and accrued income

120,518

222,128

133,428

240,451

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans and overdrafts

10,648

9,933

Trade creditors

113,001

263,175

Accruals and deferred income

300,540

324,189

424,189

597,297

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans - 1-2 years

12,633

23,274

Amounts owed to group undertakings

2,724,075

2,724,075

2,736,708

2,747,349

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

as restated

£

£

Within one year

6,007

6,007

Between one and five years

24,029

24,028

In more than five years

48,056

54,063

78,092

84,098

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

as restated

£

£

Bank loans

23,281

-

At the year end, Iona NW Environmental Infrastructure LP held a fixed and floating charge over the assets of the company in respect of the amount owed to it as shown in note 9.

The bank loan relates to a bounce back loan which is secured by the government. The loan is repayable by instalments and carries interest at 2.5% per annum

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

as restated

£

£

Other provisions

Decommissioning provision

50,000

47,844

Decommissi

oning

provision

£

Balance at 1 January 2024

47,844

Unwinding of discounted amount

2,156

Balance at 31 December 2024

50,000

A provision has been recognised for reinstatement costs for the company to return the land to its original state at the end of the lease term. The present value of these reinstatement costs are £50,000 and will be unwound annual at an agreed rate of 4.5% over the remaining lease term to 2033

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

as restated

£

£

782

Ordinary

£1

782

782

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

(1,901,400

)

349,718

(1,551,682

)

Prior year adjustment

(33,612

)

(33,612

)

(1,935,012

)

(1,585,294

)

Deficit for the year

(131,841

)

(131,841

)

At 31 December 2024

(2,066,853

)

349,718

(1,717,135

)

13.

CONTROL

At the year end the company's immediate parent company was Iona NW Environmental Infrastructure LP. The company's ultimate parent company was Iona Capital Limited.

After the year end on 11 May 2025, the company's parent became Stanley Holdco Limited, a company incorporated in England & Wales.