EPG NETLEY SOLAR NORTH LIMITED


Director	ORR, Charles James Robert


Registered Address	Fuse Energy, Level39 One Canada Square
	Canary Wharf
	London
	E14 5AB


Registered Number	08781534 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		3,001,119		3,138,577
Investments	6		1		1
			3,001,120		3,138,578
Current assets
Debtors	7,8	1,020,675		330,858
Cash at bank and on hand		9,979		2,734
		1,030,654		333,592
Creditors amounts falling due within one year	9	(21,953)		(8,474)
Net current assets (liabilities)			1,008,701		325,118
Total assets less current liabilities			4,009,821		3,463,696
Net assets			4,009,821		3,463,696
Capital and reserves
Called up share capital			1		1
Profit and loss account			4,009,820		3,463,695
Shareholders' funds			4,009,821		3,463,696

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 December 2025, and are signed on its behalf by:

ORR, Charles James Robert
Director
Registered Company No. 08781534

EPG NETLEY SOLAR NORTH LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all Plant and Machinery on a straight-line basis over the shorter of 40 years or the site lease period. 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.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all Plant and Machinery on a straight-line basis over the shorter of 40 years or the site lease period.

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
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised. No deferred tax asset had previously been recognised in respect of prior year trading losses as it was uncertain that these losses would be utilised. In the year to March 2025 a new agreement for the provision of energy to the company's parent company was finalised. A deferred tax asset has therefore been recognised in respect of losses carried forward at the balance sheet date.

Deferred tax

Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
No deferred tax asset had previously been recognised in respect of prior year trading losses as it was uncertain that these losses would be utilised. In the year to March 2025 a new agreement for the provision of energy to the company's parent company was finalised. A deferred tax asset has therefore been recognised in respect of losses carried forward at the balance sheet date.

4.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 April 24	3,241,563	3,241,563
At 31 March 25	3,241,563	3,241,563
Depreciation and impairment
At 01 April 24	102,986	102,986
Charge for year	137,458	137,458
At 31 March 25	240,444	240,444
Net book value
At 31 March 25	3,001,119	3,001,119
At 31 March 24	3,138,577	3,138,577

5.	Capitalised borrowing costs related to property, plant and equipment
	The Company has adopted the policy of capitalising borrowing costs that are directly attributable to the acquisition, construction and production of the Netley North solar farm. This refers to borrowing costs that are directly attributable to the acquisition, construction and production of the Netley North solar farm which would otherwise have been avoided had expenditure on the qualifying asset not been made. The Company will capitalise borrowing costs as part of the cost of the qualifying asset from the point when it first incurs both expenditure on the asset and borrowing costs and undertakes activities necessary to prepare the asset for its intended use or sale. Capitalisation of borrowing costs ceased when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale were complete.

Capitalised borrowing costs related to property, plant and equipment

The Company has adopted the policy of capitalising borrowing costs that are directly attributable to the acquisition, construction and production of the Netley North solar farm. This refers to borrowing costs that are directly attributable to the acquisition, construction and production of the Netley North solar farm which would otherwise have been avoided had expenditure on the qualifying asset not been made. The Company will capitalise borrowing costs as part of the cost of the qualifying asset from the point when it first incurs both expenditure on the asset and borrowing costs and undertakes activities necessary to prepare the asset for its intended use or sale. Capitalisation of borrowing costs ceased when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale were complete.

6.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 24	1	1
At 31 March 25	1	1
Net book value
At 31 March 25	1	1
At 31 March 24	1	1

	Notes
	¹Investments in group undertakings and participating interests

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	624,974	286,412
Other debtors	21,434	29,574
Prepayments and accrued income	6,158	10,468
Total	652,566	326,454

8.	Debtors: amounts due after one year

	2025	2024
	£	£
Deferred tax asset, debtors	368,109	4,404
Total	368,109	4,404

9.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	21,953	8,474
Total	21,953	8,474


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Amounts owed to group undertakings and related parties are unsecured, non-interest bearing and repayable on demand.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Amounts owed to group undertakings and related parties are unsecured, non-interest bearing and repayable on demand.

10.	Related party transactions
	The Company has taken advantage of the exemption available under FRS 102 Section 33.1 a to not disclose transactions with wholly owned group undertakings.

11.	Controlling party
	The company is 100% owned by Fuse Energy Supply Limited.