REGISTERED NUMBER: SC680082 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

KINMUCK ENERGY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A J Duncan

J D Fowlie

D A S Green

REGISTERED OFFICE:

Muirden Farm

Turriff

Aberdeenshire

United Kingdom

AB53 4NH

REGISTERED NUMBER:

SC680082 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

4th Floor, Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Intangible assets

4

1,304,880

1,437,580

Tangible assets

5

816,468

899,498

2,121,348

2,337,078

CURRENT ASSETS

Debtors

6

946,940

777,607

Cash at bank

48,040

110,362

994,980

887,969

CREDITORS

Amounts falling due within one year

7

(294,691

)

(284,328

)

NET CURRENT ASSETS

700,289

603,641

TOTAL ASSETS LESS CURRENT LIABILITIES

2,821,637

2,940,719

CREDITORS

Amounts falling due after more than one year

8

-

(144,240

)

PROVISIONS FOR LIABILITIES

(27,207

)

(26,018

)

NET ASSETS

2,794,430

2,770,461

CAPITAL AND RESERVES

Called up share capital

10

2,297,246

2,402,646

Capital redemption reserve

260,400

155,000

Retained earnings

236,784

212,815

SHAREHOLDERS' FUNDS

2,794,430

2,770,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 August 2026 and were signed on its behalf by:

D A S Green - Director

1.	STATUTORY INFORMATION

Kinmuck Energy Limited is a private company, limited by shares, registered in Scotland, registration number SC680082. The registered office is Muirden Farm, Turriff, Aberdeenshire, United Kingdom, AB53 4NH.

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.

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

Significant judgements and estimates

In preparing these financial statements, the directors are 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:

Plant and equipment

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.

Goodwill

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. In this instance, goodwill is being amortised over the same period as the Turbine within Plant & Machinery to which the goodwill relates i.e. over 178 months.

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

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

-

Over 178 months

Plant & machinery consists of a turbine that is being depreciated over its remaining estimated useful life of 14 years and 10 months.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

1,968,379

AMORTISATION

At 1 December 2024

530,799

Charge for year

132,700

At 30 November 2025

663,499

NET BOOK VALUE

At 30 November 2025

1,304,880

At 30 November 2024

1,437,580

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2024

and 30 November 2025

1,231,621

DEPRECIATION

At 1 December 2024

332,123

Charge for year

83,030

At 30 November 2025

415,153

NET BOOK VALUE

At 30 November 2025

816,468

At 30 November 2024

899,498

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

111,996

-

Amounts owed by associates

739,600

675,000

Other debtors

95,344

102,607

946,940

777,607

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,669

5,427

Taxation and social security

125,256

99,619

Other creditors

154,766

179,282

294,691

284,328

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

-

144,240

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Director's loan

144,240

310,694

A bond and floating charge has been issued in favour of director, Mr J D Fowlie, over all property and undertakings of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

240,254,600

Preference Shares

£0.01

2,297,146

2,402,546

2,297,246

2,402,646

11.	RELATED PARTY DISCLOSURES

During the year, rent to the value of £22,623 was paid to director, Mr J D Fowlie.