Basepower Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Basepower Limited is a private company, limited by shares, incorporated in England & Wales, registered number 9124995 . The registered office is 2nd Floor, Regis House, 45 King William Street, London, EC4R 9AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

A) Preparation of financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in United Kingdom pound sterling which is the functional currency of the company and rounded to the nearest £.

B) Preparation of consolidated financial statements

The financial statements contain information about Basepower Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

2.2. Going Concern Disclosure

The financial statements are prepared on a going concern basis. Following the repayment of the loan in July 2025, the directors are confident in the ability of the company to continue as a going concern due to the strong pipeline of future work and current cashflow forecasts.

2.3. Turnover

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

Fees for services

Turnover from services rendered is recognised in income in proportion to the stage of completion of the transaction at the balance sheet date. No turnover is recognised if there are significant uncertainties regarding recovery of the consideration due or associated costs. An expected loss on a contract is recognised immediately in income.

Long term contracts

In respect of long term contracts, turnover represents the value of work carried out in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts is recognised by reference to the stage of completion of the contract, which is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Provison is made for losses incurred or forseen in bringing the contract to completion as soon as they become apparent.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

CHP Engines	Engines 8 yrs from date of availability for use
Bicycles	In line with HMRC guidance for bicycles

2.5. Stocks and Work in Progress

Stocks and work in progress

Are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Construction contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess payments are included in creditors as payments on account.

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Basepower Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

The tax expense represents the sum of the tax currently payable 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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.7. Pensions

The company operates a defined pension contribution scheme under which the Company pays fixed contributions into a separate entity. Once contributions have been paid the Company has no further payment obligations.

Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. 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.

2.8. Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

2.9. Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered and 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). Where it isn not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit or site to which the asset is based.

2.10. Investments in subsidiary

Investment in subsidiary undertakings are recognised at cost

2.11. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 14)

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Basepower Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	CHP Engines	Bicycles	Total
	£	£	£
Cost
As at 1 April 2024	568,297	3,234	571,531

As at 31 March 2025	568,297	3,234	571,531

Depreciation
As at 1 April 2024	261,094	559	261,653
Provided during the period	71,040	1,926	72,966

As at 31 March 2025	332,134	2,485	334,619

Net Book Value
As at 31 March 2025	236,163	749	236,912

As at 1 April 2024	307,203	2,675	309,878

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	10

As at 31 March 2025	10

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	10

As at 1 April 2024	10

The investments comprise of ten 100% owned subsidiary undertakings

Symmetry Basepower Biggleswade Limited, Co No 11550492 Incorporated 04/09/2018

Symmetry Basepower Doncaster Limited Co No 13057409 Incoporated 02/12/2020

Symmetry Basepower Rugby Limited Co No 13434749 Incoporated 02/06/2021

Symmetry Basepower Kettering Limited, Co No 14165590 Incoporated 10/06/2022

Symmetry Basepower Aston Clinton Limited, Co No 14165884 , Incorporated 10/06/2022

Symmetry Basepower Bicester Limited, Co No 14531108, Incorporated 08/12/2022

Symmetry Basepower Merseyside Limited. Co No 14528365, Incorporated 07/12/2022

Trent Sustainable Energy Limited , Co No 14614566, Incorporated 24/01/2023

Basepower RR Solar Limited (formerly Riverside Sustainable Energy Ltd) , Co No 14614267, Incorporated 24/01/2023

Crewe Sustainable Energy Limited, Co No 14614493, Incorporated 24/01/2023

All companies are registered in England and Wales. The principal activity of each company will be the production of electricity.

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Basepower Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Stocks

	2025	2024
	£	£
Stock Spare Parts	-	633
Long term contracts	-	54,755
Costs recognised as contract expenses	-	(54,755 )

	-	633

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	795,705	457,815
Prepayments and accrued income	243,459	102,328
Other debtors	56,776	230,096
Amounts owed by group undertakings	164,562	387,015

	1,260,502	1,177,254

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	212,420	511,553
Corporation tax	60,308	-
Other taxes and social security	45,979	41,753
Other creditors	220,852	246,204
Other loans (see note 9)	974,980	511,937
Accruals and deferred income	217,727	157,518

	1,732,266	1,468,965

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Loans	-	329,542

The loan is unsecured and was fully repaid on the 30th July 2025. Interest is charged at a rate of 15%. Interest charged in the year was £133,501 (2024 :£115,509)

10. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
510 Ordinary Shares of £ 1.000 each	510	510

11. Pension Commitments

The company contributes to a multi employer defined contribution workplace pension scheme in the United Kingdom. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £3,787 (2024: £4,837) were due to the fund. They are included in Other Creditors.

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Basepower Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Related Party Transactions

The following companies who have a common directorship with DHW Poulson had the following transactions with Basepower Limited in the year

Domino Energy Limited was charged bookkeeping and administration fees of £9,734 (2025:£9,434). As at 31st March 2025 the company owed £35 (2024: £455).

Stranraer Sustainable Heat and Power Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £129,791 (2024: £125,790) and Development fees of £nil (2024: £17,391) As at 31st March 2025, the company owed £4,163 (2024: £41,313).

Preston Sustainable Heat and Power Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £129,791 (2024: £125,790). As at 31st March 2025, the company owed £2,632 (2024: £5,977).

Scala Distribution Limited was charged bookkeeping and administration fees of £9,734 (2024: £9,434). As at 31st March 2025, the company owed £35 (2024: £442).

Warrington Sustainable Energy Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £38,937 (2024: £37,737 and Engine usage charges of £38,720 (2024: £40,061) As at 31st March 2025, the company owed £4,091 (2024: £21,639).

Poole Sustainable Energy Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £50,229 (2024: £48,681), Engine usage charges of £58,605 (2024: £53,947). As at 31st March 2025, the company owed £7,888 (2024: £34,079).

Sightline Energy Limited was charged bookkeeping and administration fees of £9,734 (2024:£9,434) . As at 31st March 2025, the company owed £69 (2024: £468).

Measham Sustainable Heat and Power Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £129,791 (2024: £125,790). As at 31st March 2025, the company owed £4,071 (2024: £22,002).

Hams Hall Sustainable Energy Limited was charged bookkeeping and administration fees of £12,979 (2024: £12,579), Operations management fees of £83,521 (2024: £80,946). As at 31st March 2025, the company owed £6,666 (2024: £15,213).

The following companies are wholly owned subsidiaries

Symmetry Basepower Aston Clinton Limited was charged bookkeeping and administration fees of £14,952 (2024 £ 15,416). As at 31st March 2025 the company was owed £8,053 (2024 £ 29,847)

Symmetry Basepower Bicester Limited was charged bookkeeping and administration fees of £8,665 (2024 £ £7,826). As at 31st March 2025 the company was owed £26,925 (2024 £17,079)

Symmetry Basepower Biggleswade Limited was charged £nil (2024 £11,806) for construction work and £139,157 (2024 £121,516) for administration and operations fees.At 31st March 2025 the company owed £19,734 (2024: £250,919) .

Symmetry Basepower Doncaster Limited was charged bookkeeping and administration fees of £3,000 (2024: £ 3,000). As at 31st March 2025 the company was owed £45,373 (2024 £51,243)

Symmetry Basepower Kettering Limited was charged bookkeeping and administration fees of £829 (2024 £ 1,000). As at 31st March 2025 the company was owed £28,423 (2024 £23,201)

Symmetry Basepower Rugby Limited was charged bookkeeping and administration fees of £4,125 (2023 £ Nil). As at 31st March 2024 the company was owed £36,055 (2024 £14,395)

13. Controlling Party

There is no ultimate controlling party

14. Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of tangible fixed assets

The annual deprecation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		236,912		309,878
Investments	5		10		10

			236,922		309,888
CURRENT ASSETS
Stocks	6	-		633
Debtors	7	1,260,502		1,177,254
Cash at bank and in hand		673,516		656,458

		1,934,018		1,834,345
Creditors: Amounts Falling Due Within One Year	8	(1,732,266 )		(1,468,965 )

NET CURRENT ASSETS (LIABILITIES)			201,752		365,380

TOTAL ASSETS LESS CURRENT LIABILITIES			438,674		675,268

Creditors: Amounts Falling Due After More Than One Year	9		-		(329,542 )

NET ASSETS			438,674		345,726

CAPITAL AND RESERVES
Called up share capital	10		510		510
Profit and Loss Account			438,164		345,216

SHAREHOLDERS' FUNDS			438,674		345,726