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Company Registration No. 05721316 (England and Wales)
Third Energy Trading Limited Unaudited accounts for the year ended 31 March 2026
Third Energy Trading Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Third Energy Trading Limited Company Information for the year ended 31 March 2026
Directors
Mr Karl Yvan Farrow Mr Glynn Gary Williams
Company Number
05721316 (England and Wales)
Registered Office
CeraPhi House Eurocentre North River Road Great Yarmouth Norfolk NR30 1TE England
Accountants
JHW Azoth Ltd 13 The Close Norwich Norfolk NR1 4DS
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Third Energy Trading Limited Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
2,696,009
2,696,009
Current assets
Debtors
6
3,617,240
3,612,195
Cash at bank and in hand
10
49
3,617,250
3,612,244
Creditors: amounts falling due within one year
7
(10,423)
(5,352)
Net current assets
3,606,827
3,606,892
Total assets less current liabilities
6,302,836
6,302,901
Provisions for liabilities
Other provisions
8
(3,576,286)
(3,576,286)
Net assets
2,726,550
2,726,615
Capital and reserves
Called up share capital
1
1
Profit and loss account
2,726,549
2,726,614
Shareholders' funds
2,726,550
2,726,615
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by
Mr Karl Yvan Farrow Director Company Registration No. 05721316
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Third Energy Trading Limited Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
Third Energy Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 05721316. The registered office is CeraPhi House, Eurocentre, North River Road, Great Yarmouth, Norfolk, NR30 1TE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Gas collecting Equipment: 7-10 years Straight Line Power plant: 3-15 years Straight Line Decommissioning asset: 20 years Straight Line Renewable Energy assets: 25 years Straight Line
Deferred taxation
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 accounts. 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.
Going concern
The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company has adequate resources through this cash balance to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of these financial statements. Based on the forecasts prepared the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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Third Energy Trading Limited Notes to the Accounts for the year ended 31 March 2026
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 April 2025
2,853,250
At 31 March 2026
2,853,250
Depreciation
At 1 April 2025
157,241
At 31 March 2026
157,241
Net book value
At 31 March 2026
2,696,009
At 31 March 2025
2,696,009
Included within Tangible fixed assets are the following amounts: Decommissioning asset at cost of £2,400,134 (2022 : £2,038,000) with a Net book value of £1,382,180 (2022 : £1,069,000). Power Plant assets at cost of £nil (2022 : £2,169,000) with a Net book value of £nil (2022 : £3,000), Gas Collection Equipment at cost of £nil (2022 : £4,902,000) with a Net book value of £nil (2022 : £nil). Land at a cost of £nil (2022 : £nil) with a Net book value of £nil (2022 : £nil).
During the year the Company forgave an intercompany balance owed by a subsidiary undertaking by making a capital contribution; £232,000.
6
Debtors
2026
2025
£
£
Amounts falling due within one year
VAT
2,122
2,122
Amounts due from group undertakings etc.
584,795
588,048
Deferred tax asset
3,009,977
3,009,977
Accrued income and prepayments
20,346
12,048
3,617,240
3,612,195
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
10,373
5,302
Other creditors
50
50
10,423
5,352
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Third Energy Trading Limited Notes to the Accounts for the year ended 31 March 2026
8
Provisions for liabilities
£
At 1 April 2025
3,576,286
At 31 March 2026
3,576,286
Provision has been made for the discounted cost of restoring the plant and pipelines on the Company's wellsites to a condition acceptable to the relevant authorities, which is not anticipated to happen until 26 years after the year end. The Company commissioned Dundas Consultants to calculate the current cost of decommissioning the wellsites, in the unlikely event that decommissioning was required immediately, and they reported in October 2019. These calculations have been adopted in these financial statements and revised to reflect current values at 31 December 2022. Actual decommissioning costs will ultimately depend on the future cost of decommissioning which in turn will be affected by market conditions and regulations at the time. Furthermore, the timing of decommissioning will depend on the date the fields cease to produce at commercial rates which is influenced by factors such as future gas prices, which are inherently uncertain.
9
Controlling party
The immediate parent is Wolfland Renewables Limited a company domiciled and registered in England. The ultimate parent company is Third Energy Onshore Limited as at the date of signing these statements.
10
Average number of employees
During the year the average number of employees was 0 (2025: 2).
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