Silverfin false false 31/05/2025 01/06/2024 31/05/2025 Peter Scott Mckilligin 30/01/2013 Sharon Jane Mckilligin 30/01/2013 03 December 2025 The principal activity of the Company during the financial year was the operation of two wind turbines for the generation of electricity. SC441525 2025-05-31 SC441525 bus:Director1 2025-05-31 SC441525 bus:Director2 2025-05-31 SC441525 2024-05-31 SC441525 core:CurrentFinancialInstruments 2025-05-31 SC441525 core:CurrentFinancialInstruments 2024-05-31 SC441525 core:Non-currentFinancialInstruments 2025-05-31 SC441525 core:Non-currentFinancialInstruments 2024-05-31 SC441525 core:ShareCapital 2025-05-31 SC441525 core:ShareCapital 2024-05-31 SC441525 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC441525 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC441525 core:LandBuildings 2024-05-31 SC441525 core:PlantMachinery 2024-05-31 SC441525 core:Vehicles 2024-05-31 SC441525 core:ComputerEquipment 2024-05-31 SC441525 core:OtherPropertyPlantEquipment 2024-05-31 SC441525 core:LandBuildings 2025-05-31 SC441525 core:PlantMachinery 2025-05-31 SC441525 core:Vehicles 2025-05-31 SC441525 core:ComputerEquipment 2025-05-31 SC441525 core:OtherPropertyPlantEquipment 2025-05-31 SC441525 bus:OrdinaryShareClass1 2025-05-31 SC441525 bus:OrdinaryShareClass2 2025-05-31 SC441525 2024-06-01 2025-05-31 SC441525 bus:FilletedAccounts 2024-06-01 2025-05-31 SC441525 bus:SmallEntities 2024-06-01 2025-05-31 SC441525 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC441525 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC441525 bus:Director1 2024-06-01 2025-05-31 SC441525 bus:Director2 2024-06-01 2025-05-31 SC441525 core:PlantMachinery 2024-06-01 2025-05-31 SC441525 core:Vehicles 2024-06-01 2025-05-31 SC441525 core:ComputerEquipment 2024-06-01 2025-05-31 SC441525 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-06-01 2025-05-31 SC441525 2023-06-01 2024-05-31 SC441525 core:LandBuildings 2024-06-01 2025-05-31 SC441525 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 SC441525 core:CurrentFinancialInstruments 2024-06-01 2025-05-31 SC441525 core:Non-currentFinancialInstruments 2024-06-01 2025-05-31 SC441525 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 SC441525 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC441525 bus:OrdinaryShareClass2 2024-06-01 2025-05-31 SC441525 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC441525 (Scotland)

# MAHON GREEN ENERGY LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH THE REGISTRAR

MAHON GREEN ENERGY LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

MAHON GREEN ENERGY LIMITED

## BALANCE SHEET

AS AT 31 MAY 2025
MAHON GREEN ENERGY LIMITED

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,671,597 |  | 1,683,505
|  | 1,671,597 |  | 1,683,505
Current assets |  |  |  |
Debtors | 4 | 38,994 |  | 82,564
Cash at bank and in hand |  | 65,940 |  | 85,710
|  | 104,934 |  | 168,274
Creditors: amounts falling due within one year | 5 | ( 56,887) |  | ( 69,021)
Net current assets |  | 48,047 |  | 99,253
Total assets less current liabilities |  | 1,719,644 |  | 1,782,758
Creditors: amounts falling due after more than one year | 6 | ( 827,111) |  | ( 907,850)
Provision for liabilities | 7 | ( 110,359) |  | ( 109,797)
Net assets |  | 782,174 |  | 765,111
Capital and reserves |  |  |  |
Called-up share capital | 8 | 200 |  | 200
Profit and loss account |  | 781,974 |  | 764,911
Total shareholders' funds |  | 782,174 |  | 765,111

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Mahon Green Energy Limited (registered number: SC441525) were approved and authorised for issue by the Board of Directors on 03 December 2025. They were signed on its behalf by:

Peter Scott Mckilligin Director |  | Sharon Jane Mckilligin Director

MAHON GREEN ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
MAHON GREEN ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Mahon Green Energy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Mahon, Farm, Turriff, AB53 4HD, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover represents amounts receivable from the sale of electricity generated by the wind turbines, net of VAT. Turnover is recognised at the point of generation on the accruals basis.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 20 % reducing balance
Vehicles | 15 % reducing balance
Computer equipment | 25 % reducing balance
Other property, plant and equipment | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Computer equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 June 2024 | 1,161,848 |  | 82,400 |  | 116,000 |  | 0 |  | 809,592 |  | 2,169,840
Additions | 0 |  | 570 |  | 48,509 |  | 994 |  | 0 |  | 50,073
At 31 May 2025 | 1,161,848 |  | 82,970 |  | 164,509 |  | 994 |  | 809,592 |  | 2,219,913
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 June 2024 | 0 |  | 32,932 |  | 39,524 |  | 0 |  | 413,879 |  | 486,335
Charge for the financial year | 0 |  | 9,989 |  | 11,471 |  | 41 |  | 40,480 |  | 61,981
At 31 May 2025 | 0 |  | 42,921 |  | 50,995 |  | 41 |  | 454,359 |  | 548,316
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 May 2025 | 1,161,848 |  | 40,049 |  | 113,514 |  | 953 |  | 355,233 |  | 1,671,597
At 31 May 2024 | 1,161,848 |  | 49,468 |  | 76,476 |  | 0 |  | 395,713 |  | 1,683,505

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 1,967 |  | 19,084
Corporation tax | 9,684 |  | 9,684
Other debtors | 27,343 |  | 53,796
| 38,994 |  | 82,564

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 1,896 |  | 1,012
Taxation and social security | 8,434 |  | 24,700
Obligations under finance leases and hire purchase contracts (secured) | 5,839 |  | 0
Other creditors | 40,718 |  | 43,309
| 56,887 |  | 69,021

Obligations under finance leases and hire purchase contracts of £5,839 (2024 - £Nil) were secured over those assets to which the agreements related to.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 809,368 |  | 907,850
Obligations under finance leases and hire purchase contracts (secured) | 17,743 |  | 0
| 827,111 |  | 907,850

The bank loans are secured by a floating charge over all assets of the company and by a fixed charge over the turbine service and monitoring agreements, the connection agreement, the Feed in Tariff agreements and the power purchase agreements.
Obligations under finance leases and hire purchase contracts of £17,743 (2024 - £Nil) were secured over those assets to which the agreements related to.

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 110,359 |  | 109,797

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 A ordinary shares of £ 1.00 each | 100 |  | 100
100 B ordinary shares of £ 1.00 each | 100 |  | 100
| 200 |  | 200

#### 9. Related party transactions

Transactions with the entity's directors

Advances

As at 1 June 2024 an amount of £28,694 was due from the directors. During the year, amounts of £21,876 were repaid by the directors and interest of £562 (2.25%) was charged on the loan balance. As at 31 May 2025, the balance owed by the directors was £7,380. The balance has no fixed terms of repayment.