REGISTERED NUMBER: SC417299 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

ALEX FOWLIE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A W J Fowlie

REGISTERED OFFICE:

Millhill

Longside

Peterhead

Aberdeenshire

AB42 5BJ

REGISTERED NUMBER:

SC417299 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

4th Floor, Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

611,910

699,636

Investments

6

7,318,487

6,376,637

7,930,397

7,076,273

CURRENT ASSETS

Debtors

7

1,584,715

1,525,905

Cash at bank

1,460,643

991,059

3,045,358

2,516,964

CREDITORS

Amounts falling due within one year

8

(3,445,778

)

(3,154,249

)

NET CURRENT LIABILITIES

(400,420

)

(637,285

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,529,977

6,438,988

CREDITORS

Amounts falling due after more than one year

9

(4,054,104

)

(4,054,104

)

PROVISIONS FOR LIABILITIES

(132,986

)

(150,529

)

NET ASSETS

3,342,887

2,234,355

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

373,458

128,262

Retained earnings

2,969,329

2,105,993

SHAREHOLDERS' FUNDS

3,342,887

2,234,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2026 and were signed by:

A W J Fowlie - Director

1.	STATUTORY INFORMATION

Alex Fowlie Ltd is a private company, limited by shares, registered in Scotland, registration number

SC417299. The registered office is Millhill, Longside, Peterhead, Aberdeenshire, AB42 5BJ.

The principal activity of the company is renewable energy.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Fixed Assets

The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Turnover

Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Production of electricity

Income is recognised in the period in which the electricity has been generated.

Government grants

Income from the government's Renewable Heat Incentive is recognised in the profit and loss in the period to which it relates.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a wind turbine in 2014, is being amortised over its estimated useful life of 8 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on cost, 10% on cost and 5% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Listed Investments

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

The fair value is the price that would be received if an asset is sold in an orderly transaction between market participants at the measurement date. The fair value of assets traded in an active market is based on quoted market prices at the close of trading on the reporting date. For quoted financial assets the valuation is based on the closing bid price.

Unlisted Investments

Unlisted investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

3,996,958

AMORTISATION

At 1 August 2024

and 31 July 2025

3,996,958

NET BOOK VALUE

At 31 July 2025

-

At 31 July 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2024

1,373,622

Additions

3,331

Disposals

(51,223

)

At 31 July 2025

1,325,730

DEPRECIATION

At 1 August 2024

673,986

Charge for year

70,527

Eliminated on disposal

(30,693

)

At 31 July 2025

713,820

NET BOOK VALUE

At 31 July 2025

611,910

At 31 July 2024

699,636

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2024

6,376,637

Additions

708,725

Disposals

(12,071

)

Revaluations

245,196

At 31 July 2025

7,318,487

NET BOOK VALUE

At 31 July 2025

7,318,487

At 31 July 2024

6,376,637

Cost or valuation at 31 July 2025 is represented by:

Other

investments

£

Valuation in 2022

415

Valuation in 2023

(33,791

)

Valuation in 2024

161,637

Valuation in 2025

245,196

Cost

6,945,030

7,318,487

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

72,261

13,262

Amounts owed by associates

1,473,262

1,473,262

Other debtors

39,192

39,381

1,584,715

1,525,905

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

24,076

21,040

Amounts owed to associates

170,020

170,020

Taxation and social security

557,890

275,620

Other creditors

2,693,792

2,687,569

3,445,778

3,154,249

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

4,054,104

4,054,104

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

4,054,104

4,054,104

10.

RESERVES

Fair

value

reserve

£

At 1 August 2024

128,262

Fair value transfer

245,196

At 31 July 2025

373,458

11.	RELATED PARTY DISCLOSURES

The company has advanced funds to the value of £1,473,262 to Fowlie Farms Ltd, as well as receiving £110k from AWJF Ltd and £60k from FF Wind Energy Ltd, all of which are entities in which Mr Fowlie is also a director.