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Company No: SC381342 (Scotland)

# FECHEL ENERGY LIMITED

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

FECHEL ENERGY LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

Contents

FECHEL ENERGY LIMITED

## BALANCE SHEET

AS AT 31 JULY 2025
FECHEL ENERGY LIMITED

## BALANCE SHEET (continued)

AS AT 31 JULY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 659,278 |  | 729,693
|  | 659,278 |  | 729,693
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 4 | 1,104,554 |  | 802,259
- due after more than one year | 4 | 511,812 |  | 520,313
Cash at bank and in hand |  | 208,190 |  | 342,635
|  | 1,824,556 |  | 1,665,207
Creditors: amounts falling due within one year | 5 | ( 67,762) |  | ( 281,868)
Net current assets |  | 1,756,794 |  | 1,383,339
Total assets less current liabilities |  | 2,416,072 |  | 2,113,032
Provision for liabilities | 6 | ( 139,235) |  | ( 150,593)
Net assets |  | 2,276,837 |  | 1,962,439
Capital and reserves |  |  |  |
Called-up share capital | 7 | 5 |  | 5
Profit and loss account |  | 2,276,832 |  | 1,962,434
Total shareholders' funds |  | 2,276,837 |  | 1,962,439

For the financial year ending 31 July 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 Fechel Energy Limited (registered number: SC381342) were approved and authorised for issue by the Board of Directors on 11 March 2026. They were signed on its behalf by:

Charles Alexander Simmers Director |

FECHEL ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
FECHEL ENERGY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 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

Fechel 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 28 Albyn Place, Aberdeen, AB10 1YL, United Kingdom.
The financial statements have been prepared under the historical cost convention 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.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover represents amounts received for renewable energy generated net of VAT. Turnover is recognised on generation of electricity. Income is recognised on an accruals basis where it is capable of being reliably measured.

##### 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 or valuation, 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 or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 20 years straight line

Decommissioning provisions included in plant and machinery are not depreciated.
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 lessor
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

##### 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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an 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).

##### Cash and cash equivalents

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

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 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

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 August 2024 | 1,420,309 |  | 1,420,309
At 31 July 2025 | 1,420,309 |  | 1,420,309
Accumulated depreciation |  |  |
At 01 August 2024 | 690,616 |  | 690,616
Charge for the financial year | 70,415 |  | 70,415
At 31 July 2025 | 761,031 |  | 761,031
Net book value |  |  |
At 31 July 2025 | 659,278 |  | 659,278
At 31 July 2024 | 729,693 |  | 729,693

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 500 |  | 0
Amounts owed by related parties | 450,000 |  | 0
Corporation tax | 136,908 |  | 136,908
Other debtors | 517,146 |  | 665,351
| 1,104,554 |  | 802,259
Debtors: amounts falling due after more than one year |  |  |
Other debtors | 511,812 |  | 520,313

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 38,708
Trade creditors | 19,203 |  | 14,250
Taxation and social security | 42,250 |  | 152,049
Other creditors | 6,309 |  | 76,861
| 67,762 |  | 281,868

#### 6. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 127,235 |  | 138,593
Other provisions | 12,000 |  | 12,000
| 139,235 |  | 150,593

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 A Share ordinary share of £ 1.00 | 1 |  | 1
1 B Share ordinary share of £ 1.00 | 1 |  | 1
1 C Share ordinary share of £ 1.00 | 1 |  | 1
1 D Share ordinary share of £ 1.00 | 1 |  | 1
1 E Share ordinary share of £ 1.00 | 1 |  | 1
| 5 |  | 5

#### 8. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Due from Directors | 296,413 |  | 405,655

A further advance for Directors Loan Account was made to the directors during the year for £2,127 (at interest rate of 0.00%) and £111,370 has been repaid. There are no fixed terms of repayment and no interest is charged.

Other related party transactions

The company provided a loan of £450,000 in the year to an associated company. The loan is repayable on demand at interest rate of 0.00%.
Included in other debtors are loans totalling £511,812 (2024 - £520,313) which have been discounted to present value and are due from an entity which is controlled by a company who is controlled by the mother and brother of one of the directors. Interest is charged on the loans at 2% above the Bank of England base rate, per annum Interest.