Silverfin false false 31/08/2025 01/09/2024 31/08/2025 Dr Elaine Janet Booth 03/08/2009 Irene May Fowlie 03/08/2009 James Hendry Fowlie 03/08/2009 Michael Thomas Macaulay 23/02/2021 24 February 2026 The principal activity of the Company during the financial year was that of a holding company SC363356 2025-08-31 SC363356 bus:Director1 2025-08-31 SC363356 bus:Director2 2025-08-31 SC363356 bus:Director3 2025-08-31 SC363356 bus:Director4 2025-08-31 SC363356 2024-08-31 SC363356 core:Non-currentFinancialInstruments 2025-08-31 SC363356 core:Non-currentFinancialInstruments 2024-08-31 SC363356 core:CurrentFinancialInstruments 2025-08-31 SC363356 core:CurrentFinancialInstruments 2024-08-31 SC363356 core:ShareCapital 2025-08-31 SC363356 core:ShareCapital 2024-08-31 SC363356 core:SharePremium 2025-08-31 SC363356 core:SharePremium 2024-08-31 SC363356 core:RetainedEarningsAccumulatedLosses 2025-08-31 SC363356 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC363356 core:CostValuation 2024-08-31 SC363356 core:CostValuation 2025-08-31 SC363356 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2025-08-31 SC363356 core:RemainingRelatedParties core:CurrentFinancialInstruments 2025-08-31 SC363356 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-08-31 SC363356 bus:OrdinaryShareClass1 2025-08-31 SC363356 2024-09-01 2025-08-31 SC363356 bus:FilletedAccounts 2024-09-01 2025-08-31 SC363356 bus:SmallEntities 2024-09-01 2025-08-31 SC363356 bus:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 SC363356 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 SC363356 bus:Director1 2024-09-01 2025-08-31 SC363356 bus:Director2 2024-09-01 2025-08-31 SC363356 bus:Director3 2024-09-01 2025-08-31 SC363356 bus:Director4 2024-09-01 2025-08-31 SC363356 2023-09-01 2024-08-31 SC363356 bus:OrdinaryShareClass1 2024-09-01 2025-08-31 SC363356 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC363356 (Scotland)

# GREENSIDE WIND ENERGY LIMITED

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

GREENSIDE WIND ENERGY LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

Contents

GREENSIDE WIND ENERGY LIMITED

## BALANCE SHEET

AS AT 31 AUGUST 2025
GREENSIDE WIND ENERGY LIMITED

## BALANCE SHEET (continued)

AS AT 31 AUGUST 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 25,904 |  | 85,964
|  | 25,904 |  | 85,964
Current assets |  |  |  |
Debtors |  |  |  |
- due after more than one year | 4 | 1,665,905 |  | 1,592,844
Cash at bank and in hand |  | 41,778 |  | 56,660
|  | 1,707,683 |  | 1,649,504
Creditors: amounts falling due within one year | 5 | ( 37,038) |  | ( 36,487)
Net current assets |  | 1,670,645 |  | 1,613,017
Total assets less current liabilities |  | 1,696,549 |  | 1,698,981
Provision for liabilities |  | ( 1,072) |  | ( 2,146)
Net assets |  | 1,695,477 |  | 1,696,835
Capital and reserves |  |  |  |
Called-up share capital | 6 | 133,360 |  | 133,360
Share premium account |  | 1,560,000 |  | 1,560,000
Profit and loss account |  | 2,117 |  | 3,475
Total shareholders' funds |  | 1,695,477 |  | 1,696,835

For the financial year ending 31 August 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 Profit and Loss Account has not been delivered.

The financial statements of Greenside Wind Energy Limited (registered number: SC363356) were approved and authorised for issue by the Board of Directors on 24 February 2026. They were signed on its behalf by:

Dr Elaine Janet Booth Director |  | Irene May Fowlie Director

GREENSIDE WIND ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025
GREENSIDE WIND ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 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

Greenside Wind 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 Johnston Carmichael Axis Business Centre, Thainstone, Inverurie, AB51 5TB, United Kingdom. The principal place of business is Ednie House, St Fergus, Peterhead, AB42 3BU.
The financial statements have been prepared under the historical cost convention, modified to include 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.

##### 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.

##### 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 Profit and Loss Account as described below.

##### Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss.
Investments also include long term loans to subsidiaries on which no interest is due. These loans have been discounted with the discounted portion being reflected as an investment.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

##### 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 are recognised at transaction price.
Trade creditors are obligations to pay for goods or sevices 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.

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 | 4 |  | 4

#### 3. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 September 2024 | 1
At 31 August 2025 | 1
Carrying value at 31 August 2025 | 1
Carrying value at 31 August 2024 | 1

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 September 2024 | 85,963 |  | 85,963
Transfer to reserves | ( 60,060) |  | ( 60,060)
At 31 August 2025 | 25,903 |  | 25,903
Carrying value at 31 August 2025 | 25,903 |  | 25,903
Carrying value at 31 August 2024 | 85,963 |  | 85,963

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due after more than one year |  |  |
Amounts owed by own subsidiaries | 1,665,905 |  | 1,592,844

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 21,950 |  | 21,950
Taxation and social security | 15,088 |  | 14,537
| 37,038 |  | 36,487

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,333,600 Ordinary shares of £ 0.10 each | 133,360 |  | 133,360

#### 7. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amount due to directors | 21,950 |  | 21,950

The above amounts were outstanding at the reporting end date and due to related parties.
There are no fixed repayment and no interest is charged, therefore the balances are included as creditors due within one year. However, these balances are subordinated in favour of the outstanding bank facilities provided by Tridos Bank and will therefore not be repaid until such bank facilities are repaid in full.
The company has taken advantage of the exemptions included in FRS 102 33.1A not to disclose transactions with wholly owned group companies.
As part of the project funding agreement, Greenside Wind Energy Limited has given Tridos Bank security over the shares held in the subsidiary undertaking GWEL Operating Company Limited.

#### 8. Directors' Transactions

Dividends totalling £365,100 (2024 £365,100) were paid in the year in respect of shares held by the company's directors