Company No: 15163938 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.08.2025		31.08.2024
		£		£
Fixed assets
Investment property	3	531,452		428,598
Investments	4	121		121
		531,573		428,719
Current assets
Debtors	5	4,076		103,809
Cash at bank and in hand		3,939,464		3,500,937
		3,943,540		3,604,746
Creditors: amounts falling due within one year	6	( 4,010,692)		( 3,591,409)
Net current (liabilities)/assets		(67,152)		13,337
Total assets less current liabilities		464,421		442,056
Net assets		464,421		442,056
Capital and reserves
Called-up share capital	7	120		120
Profit and loss account		464,301		441,936
Total shareholders' funds		464,421		442,056

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Elestren Ltd (registered number: 15163938) were approved and authorised for issue by the Board of Directors on 23 April 2026. They were signed on its behalf by:

A M Semmens Director

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 period, unless otherwise stated.

General information and basis of accounting

Elestren Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leswidden Common Fuel Depot, Leswidden Common, Penzance, TR19 7RU, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue is recognised according to the rental period.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 over its expected useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

2. Employees

	Year ended 31.08.2025		Period from 25.09.2023 to 31.08.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 September 2024	428,598
Additions	102,854
As at 31 August 2025	531,452

Valuation

Investment property is carried at cost which is considered by the directors to be fair value.

4. Fixed asset investments

Investments in subsidiaries

	31.08.2025
	£
Cost
At 01 September 2024	121
At 31 August 2025	121
Carrying value at 31 August 2025	121
Carrying value at 31 August 2024	121

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.08.2025	Ownership 31.08.2024	Held
Leswidden Common Fuel Depot Limited	Leswidden Common Fuel Depot, Leswidden Common, Penzance, Cornwall, TR19 7RU	Retailing of coal, fuel, oil and other fuels	Ordinary	100.00%	100.00%	Direct
Farrar Cottage Ltd	Leswidden Common Fuel Depot, Leswidden Common, Penzance, United Kingdom, TR19 7RU	Letting and operating of a furnished holiday let	Ordinary	100.00%	100.00%	Direct

5. Debtors

	31.08.2025		31.08.2024
	£		£
Trade debtors	1,700		0
Other debtors	2,376		103,809
	4,076		103,809

6. Creditors: amounts falling due within one year

	31.08.2025		31.08.2024
	£		£
Trade creditors	1,630		0
Taxation and social security	47,164		3,215
Other creditors	3,961,898		3,588,194
	4,010,692		3,591,409

7. Called-up share capital

	31.08.2025		31.08.2024
	£		£
Allotted, called-up and fully-paid
110 Ordinary A shares of £ 1.00 each	110		110
10 Ordinary B shares of £ 1.00 each	10		10
	120		120

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	31.08.2025		31.08.2024
	£		£
Leswidden Common Fuel Depot Limited	(3,959,547)		(3,586,692)

The above balance is included within other creditors and relates to an interest free loan due to Leswidden Common Fuel Depot Limited, a company in which Elestren Ltd is the only shareholder.