Environmental Finance Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08195029

Environmental Finance Limited

Filleted Financial Statements

31 December 2025

Environmental Finance Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	19,686	32,445
Investments	6	20,002	25,002
		--------	--------
		39,688	57,447

Current assets

Debtors	7	1,221,210	1,440,084
Cash at bank and in hand		1,566,899	1,048,865
		------------	------------
		2,788,109	2,488,949

Creditors: amounts falling due within one year	8	1,131,085	1,045,700
		------------	------------
Net current assets		1,657,024	1,443,249
		------------	------------
Total assets less current liabilities		1,696,712	1,500,696

Creditors: amounts falling due after more than one year	9	200,000	200,000
		------------	------------
Net assets		1,496,712	1,300,696
		------------	------------

Capital and reserves

Called up share capital	10	149,581	147,544
Share premium account		110,758	110,758
Profit and loss account		1,236,373	1,042,394
		------------	------------
Shareholders funds		1,496,712	1,300,696
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 30 June 2026 , and are signed on behalf of the board by:

James Lawrence Mansfield

Director

Company registration number: 08195029

Environmental Finance Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is W106 Vox Studios, Durham Street, London, SE11 5JH, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is recognised when the performance obligations or milestone in the contract is satisfied and is stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	Over 3 years
Equipment	-	Over 3 years

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Grants

Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are recognised using the accrual model and the performance model. Under the accrual model, grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 37 (2024: 38 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2025	45,065	39,425	84,490
Additions	–	11,718	11,718
	--------	--------	--------
At 31 December 2025	45,065	51,143	96,208
	--------	--------	--------
Depreciation
At 1 January 2025	29,834	22,211	52,045
Charge for the year	11,952	12,525	24,477
	--------	--------	--------
At 31 December 2025	41,786	34,736	76,522
	--------	--------	--------
Carrying amount
At 31 December 2025	3,279	16,407	19,686
	--------	--------	--------
At 31 December 2024	15,231	17,214	32,445
	--------	--------	--------

6. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	2	25,000	25,002
	----	--------	--------
Impairment
At 1 January 2025	–	–	–
Impairment losses	–	5,000	5,000
	----	--------	--------
At 31 December 2025	–	5,000	5,000
	----	--------	--------

Carrying amount
At 31 December 2025	2	20,000	20,002
	----	--------	--------
At 31 December 2024	2	25,000	25,002
	----	--------	--------

Other investment represents 200 shares in an unquoted company.

Subsidiary undertakings

		Percentage of shares held %
	Picnic Investments Limited - Ordinary shares	100
	Finance Earth Limited - Ordinary shares	100

The address of the registered office of all the subsidiary companies is Vox Studios, Room W106, 1-45 Durham Street, London, SE11 5JH.

7. Debtors

	2025	2024
	£	£
Trade debtors	1,146,714	1,319,537
Prepayments and accrued income	46,429	35,501
Corporation tax repayable	–	56,979
Other debtors	28,067	28,067
	------------	------------
	1,221,210	1,440,084
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	86,452	127,215
Accruals and deferred income	287,118	628,571
Corporation tax	70,719	–
Social security and other taxes	83,805	257,980
FSD Africa - grant funds for dispersal	572,463	–
Other creditors	30,528	31,934
	------------	------------
	1,131,085	1,045,700
	------------	------------

During the year, Financial Sector Deepening Africa (FSD Africa), gave a restricted grant of £1million for projects they approved in respect of their, Carbon Accelerator Programme for the Environment. By the year end, £434,234 was disbursed to projects and interest received, less bank charges of £6,697 was added to the grant funds, leaving a balance of £572,463. As this grant is not in lieu of services to be provided by the company, the source and use of this grant is not disclosed in the profit and loss account, only the company's advisory fee for services to FSD Africa, is disclosed in the profit and loss account.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	200,000	200,000
	---------	---------

10. Called up share capital

	Number	Value	Number	Value
		£	£	£
Ordinary shares A of £0.01	14,020,000	140,200	14,020,000	140,200
Ordinary Shares VV of £0.01 each	858,125	8,581	734,377	7,344
Ordinary Shares MD of £0.01 each	79,980	800	–	–
	-------------	---------	-------------	---------
	14,958,105	149,581	14,754,377	147,544
	-------------	---------	-------------	---------

The co-founders have committed to allocate 48% of the company for employee ownership, 24% to senior employees (MD shares) and 24% to all other employees (Vv shares). During the year 300,000 Vv ordinary shares and 79,980 MD ordinary shares were issued to eligible employees at par value of £0.01 each. Employees join the scheme after serving 1 year. The shares carry the right to vote at annual general meetings and, upon leaving the company as an employee, the company will repurchase the shares at par value of £0.01 each. During the year 176,254 Vv shares were repurchased, of which 96,274 related to leavers in the year and 79,980 were substituted for the equivalent no. of new MD shares.

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	113,592	52,150
	---------	--------

12. Summary audit opinion

The auditor's report dated 30 June 2026 was unqualified .

The senior statutory auditor was NICOLAS MICHAEL FCA , for and on behalf of Charlton Baker (Bristol) Ltd .

13. Related party transactions

During the year, the company invoiced £8,823 (2024 - £9,588) in management service fees to Chile Small Pelagic FIP Ltd , Richard Speak and James Mansfield are directors of the company, .At the year end, £5,344 (2024: £11,506) was unpaid and is included in trade debtors in these financial statements. During the year the company invoiced £36,398 (2024 - £32,738) in recharged costs to Sporting Assets Ltd, a company in which Richard Speak is also director. At the year end, £43,678 (2024 - £39,286) was unpaid and is included in trade debtors in these financial statements. During the year the company invoiced £220,639 (2024 - £83,698) in consultancy fees to Fisheries Improvement Fund Limited, a company in which Richard Speak and James Mansfield are also directors. At the year end, £124,574 (2024 - £Nil) was unpaid and is included in trade debtors in these financial statements. During the year the company invoiced £41,622 (2024 - £Nil) in consultancy fees to Blue Catalyst Fund Limited, a company limited by guarantee in which Richard Speak and James Mansfield are also directors. At the year end, £41,622 (2024 - £Nil) was unpaid and is included in trade debtors in these financial statements. In November 2023, the company received a £100,000 loan from Green Acorn Holdings Limited at an interest rate of 10% p.a. a company in which James Mansfield is the sole director. At the year end, the £100,000 loan owed is shown in Creditors: amounts falling due after more than one year and the unpaid interest of £2,521 (2024 - £2,521) is shown in Other Creditors. In November 2023, the company received a £100,000 loan from Finance For Sustainability Limited at an interest rate of 10% p.a. also, the company was charged £9,540 (2024 - £9,510) in recharged costs from Finance For Sustainability Limited, a company in which Richard Speak is also director. Also there were Management fees of £Nil (2024 - £36,416) from the company. At the year end, the £100,000 loan owed is shown in Creditors: amounts falling due after more than one year and the unpaid interest of £2,521 (2024 £2,521) is shown in Other Creditors, also, at the year end, £11,448 (2024 - £55,111) was unpaid in recharged costs and is included in trade creditors.