Fornax Energy Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14220579

Fornax Energy Ltd

Filleted Unaudited Financial Statements

31 December 2025

Fornax Energy Ltd

Financial Statements

Year ended 31 December 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Fornax Energy Ltd

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	5,621	672

Current assets

Debtors	6	270,239	51,096
Cash at bank and in hand		1,994,760	70,967
		------------	---------
		2,264,999	122,063

Creditors: amounts falling due within one year	7	108,784	19,846
		------------	---------
Net current assets		2,156,215	102,217
		------------	---------
Total assets less current liabilities		2,161,836	102,889

Creditors: amounts falling due after more than one year	8	66,748	86,748
		------------	---------
Net assets		2,095,088	16,141
		------------	---------

Capital and reserves

Called up share capital	242	178
Share premium account	2,586,426	210,987
Profit and loss account	( 491,580)	( 195,024)
	------------	---------
Shareholders funds	2,095,088	16,141
	------------	---------

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.

For the year ending 31 December 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Fornax Energy Ltd

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 24 June 2026 , and are signed on behalf of the board by:

Mr D Leviseur

Director

Company registration number: 14220579

Fornax Energy Ltd

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 128 City Road, London, EC1V 2NX, United Kingdom.

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.

Going concern

These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Finance lease receivables are recorded on the balance sheet as a net investment in the lease, which represents the present value of future lease payments due from customers. This reflects the principal portion of the lease payments and is aligned with the cost of goods sold incurred by the company under the lease agreements. Although interest income is not recognised as a separate receivable on the Statement of Financial Position, the company is contractually entitled to interest income over the term of each lease.

Income tax

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.

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.

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:

Plant and machinery	-	12 years straight line method
Equipment	-	2 years straight line method

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government 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. Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 5 (2024: 3 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 January 2025	849
Additions	5,544
	-------
At 31 December 2025	6,393
	-------
Depreciation
At 1 January 2025	177
Charge for the year	595
	-------
At 31 December 2025	772
	-------
Carrying amount
At 31 December 2025	5,621
	-------
At 31 December 2024	672
	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	19,105	2,099
Other debtors	251,134	48,997
	---------	--------
	270,239	51,096
	---------	--------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Other debtors	102,749	39,869
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	74,366	240
Social security and other taxes	9,689	10,156
Credit cards	11,020	–
Other creditors	13,709	9,450
	---------	--------
	108,784	19,846
	---------	--------

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

	2025	2024
	£	£
Other creditors	66,748	86,748
	--------	--------

9. Related party transactions

At the year end, the company owed the directors £74,006 (2024: £94,006).