Risort Power Generation Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC375860 (Scotland)

RISORT POWER GENERATION LIMITED

Audited Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F A Jefferson

R Morrison

P Lidgett

J M Macdonald

SECRETARY:

R Morrison

REGISTERED OFFICE:

Raebhat House

North Shawbost

Isle of Lewis

HS29BD

REGISTERED NUMBER:

SC375860 (Scotland)

SENIOR STATUTORY AUDITOR:

John E Moffat BA FCA

AUDITORS:

Mann Judd Gordon Ltd

Chartered Accountants

& Statutory Auditors

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Tangible assets

4

611,951

701,394

CURRENT ASSETS

Debtors

5

196,648

238,092

Cash at bank and in hand

391,747

650,845

588,395

888,937

CREDITORS

Amounts falling due within one year

6

104,705

96,120

NET CURRENT ASSETS

483,690

792,817

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,095,641

1,494,211

CREDITORS

Amounts falling due after more than one
year

7

181,082

NET ASSETS

914,559

1,313,129

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

914,557

1,313,127

SHAREHOLDERS' FUNDS

914,559

1,313,129

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 Board of Directors and authorised for issue on 22 June 2026 and were signed on its behalf by:

F A Jefferson - Director

1.	STATUTORY INFORMATION

Risort Power Generation Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

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.

Going concern

The company is a going concern and there are no material uncertainties casting significant doubt over its ability to continue as a going concern

Critical accounting judgements and key sources of estimation uncertainty

Fixed asset net book value and depreciation charges are the areas of the accounts which are affected by significant judgements and estimates. The directors exercise judgement in determining both the useful economic life and the likely residual value of the company's assets. This judgement affects the rates of and charge for depreciation as well as grant release in the accounts for the year. It also therefore affects the net book value of the assets in the balance sheet.

Turnover

Turnover represents the value of electricity generation income and feed in tariff in the period, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

5% depreciation on cost

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Where there are related or matching forward contracts in respect of trading transactions, the rates of exchange specified in those contracts have been used.

Lease commitments

Rentals paid under operating leases are charged to the profit and loss account as incurred over the period of the lease.

Grants

Grants of a revenue nature are taken to the Profit and Loss Account in the year in which the related expenditure is undertaken. Grants received which are related to capital expenditure are capitalised in the Balance Sheet under Creditors due after more than one year until the project is complete. At that point these grants are released to the Profit and Loss Account on the same basis as the related capital expenditure is depreciated.

Debtors and creditors receivable / payable within one year

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

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2025

and 31 December 2025

1,788,858

DEPRECIATION

At 1 January 2025

1,087,464

Charge for year

89,443

At 31 December 2025

1,176,907

NET BOOK VALUE

At 31 December 2025

611,951

At 31 December 2024

701,394

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

28,781

43,730

Other debtors

167,867

194,362

196,648

238,092

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

-

211

Amounts owed to group undertakings

40,000

Taxation and social security

884

8,016

Other creditors

63,821

47,893

104,705

96,120

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Amounts owed to group undertakings

181,082

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

Within one year

3,150

Between one and five years

22,225

In more than five years

32,200

35,350

57,575

60,725

Risort Power Generation Ltd is party to a 22 year lease of the turbine site.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John E Moffat BA FCA (Senior Statutory Auditor)

for and on behalf of Mann Judd Gordon Ltd

10.	RELATED PARTY DISCLOSURES

The company is a wholly owned trading subsidiary of Horshader Community Development which has been set up to develop community-owned renewable energy projects. Horshader Community Development is a charitable company limited by guarantee which is incorporated in Scotland.

The company has received loans from its parent company to assist in the development of a community wind energy project. There is no scheduled repayment date and the loan bears interest at 3.5% above base rate. The balance of this loan at 31 December 2025 was £221,082 (2024 - £221,082). Interest charged on the intercompany loans during the year was £16,610 (2024 - £18,978). The amounts owed by the company to its parent charitable company at 31 December 2025 in relation to interest are £53,458 (2024 - £38,848).

During the year ended 31 December 2025, the company was charged £13,934 (2024 - £14,159) in relation to rent and £1,200 (2024 - £1,200) in administration charges by its parent charitable company. The company also made gift aid payments of £849,361 (2024 - £693,726) to its parent charitable company in relation to the year ended 31 December 2025.