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Registered number: 07720104 OPTIONS ENERGY SERVICES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
OPTIONS ENERGY SERVICES LIMITED REGISTERED NUMBER: 07720104 BALANCE SHEET AS AT 31 MARCH 2025
| 2025 | 2025 | 2024 | 2024
Note | £ | £ | £ | £
Intangible assets | 4 |  | - |  | -
Tangible assets | 5 |  | - |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 3,877,113 |  | 1,639,750 |
Cash at bank and in hand | 7 | 10,826 |  | 155 |
|  | 3,887,939 |  | 1,639,905 |
Creditors: amounts falling due within one year | 8 | (3,388,219) |  | (1,174,882) |
Net current assets |  |  | 499,720 |  | 465,023
Net assets |  |  | 499,720 |  | 465,023
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 499,718 |  | 465,021
|  |  | 499,720 |  | 465,023
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2026.
S G Wignall
Director
The notes on pages 2 to 10 form part of these financial statements. Page 1
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Options Energy Services Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements. The principal activity of the Company is that of civil engineering contractor services in the UK utilities market. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Group, of which this Company is a member, relies on an invoice financing arrangement. The directors have no reason to believe that the facilities will not be available for at least the next twelve months. The directors are confident that they could source alternative finance should this be necessary. Provision has been made for all known claims against the Group, in accordance with the policies set out in the notes to the financial statements. The Group continues to monitor and work closely with its insurers to ensure the impact on the Group is kept to a minimum. The timing and amount of such claims are in many instances uncertain. However, the directors are of the opinion that all future liabilities can be met, based upon current estimates. The Company also has continued financial support from the wider Group. Based upon the above, the directors consider the going concern basis remains appropriate for the preparation of the financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services The Company recognises revenue when invoices are raised to, or when consideration is measured as receivable from customers. Invoices may be raised in the same period in which the service took place, or subsequently when the value of services can be reliably measured. The level of work is agreed by the customer prior to an invoice being raised. At the year end an estimated value for the work carried out during the year, recognised by reference to the stage of completion, that is yet to be invoiced is included within turnover and as amounts recoverable on long-term contracts within debtors. Page 2
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Intangible assets
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following annual bases:
|  |  |  | Plant and machinery | - | 25% straight line
|  |  |  | Motor vehicles | - | 25% straight line
|  |  |  | Fixtures and fittings | - | 25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Page 3
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.11 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight-line basis over the period of the lease.
| 2.12 | Leased assets: the Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 2.13 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.14 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.15 | Invoice finance
Amounts due in respect of invoice finance are separately disclosed as current liabilities. The company can use these facilities to draw down a percentage of the value of certain sales invoices. The management and collection of trade receivables remains with the company.
| 2.16 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
3. | Employees
| The average monthly number of employees, including directors, during the year was 30 (2024 - 24).
Page 5
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 April 2024 | 25,000
| At 31 March 2025 | 25,000
| Amortisation |
| At 1 April 2024 | 25,000
| At 31 March 2025 | 25,000
| Net book value |
| At 31 March 2025 | -
| At 31 March 2024 | -
Page 6
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 April 2024 | 289,418 | 160,750 | 153,452 | 603,620
| Disposals | (29,193) | (69,000) | - | (98,193)
| At 31 March 2025 | 260,225 | 91,750 | 153,452 | 505,427
| Depreciation |  |  |  |
| At 1 April 2024 | 289,418 | 160,750 | 153,452 | 603,620
| Disposals | (29,193) | (69,000) | - | (98,193)
| At 31 March 2025 | 260,225 | 91,750 | 153,452 | 505,427
| Net book value |  |  |  |
| At 31 March 2025 | - | - | - | -
| At 31 March 2024 | - | - | - | -
Page 7
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 520,849 | 473,257
| Amounts owed by group undertakings | 3,236,939 | 697,200
| Other debtors | 9,580 | 23
| Prepayments and accrued income | 427 | -
| Amounts recoverable on long-term contracts | 72,505 | 432,457
| Deferred taxation | 36,813 | 36,813
|  | 3,877,113 | 1,639,750
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 10,826 | 155
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 689,652 | 94,144
| Amounts owed to group undertakings | 1,809,444 | 309,582
| Corporation tax | 216,501 | 83,736
| Other taxation and social security | 117,650 | 340,294
| Proceeds of factored debts | 387,596 | 152,932
| Other creditors | 25,434 | 13,434
| Accruals and deferred income | 141,942 | 180,760
|  | 3,388,219 | 1,174,882
| Included within creditors are amounts of £387,596 (2024 - £152,932), which are secured with a fixed and floating charge over the assets of the Company along with an unlimited personal guarantee executed by the directors S G Wignall and J P Flannery.
Page 8
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 36,813 | 36,813
| At end of year | 36,813 | 36,813
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 36,813 | 36,813
10. | Contingent liabilities
The Company is part of a group VAT registration, together with Options Energy Group Limited, Options Energy Resource LLP, Options Electricity Services Limited, Options Water Services Limited and Options Telecom Services Limited, and as such is jointly and severally liable for the VAT liabilities of the other members of the VAT group. At the balance sheet date, the total contingent liability is £996,569 (2024 - £762,730).
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £90,249 (2024 - £18,612). As at the year end a balance of £17,678 (2024 - £2,477) is due to the pension scheme.
12. | Related party transactions
| At 31 March 2025, amounts owed by group undertakings totalled £3,236,939 (2024 - £697,200) and amounts owed to group undertakings totalled £1,809,444 (2024 - £309,582). These balances are unsecured, interest free and repayable on demand. During the year, the Company incurred management charges from fellow group undertakings of £5,000,000 (2024 - £7,100,000).
Page 9
OPTIONS ENERGY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Ultimate parent undertaking
The Company is a wholly owned subsidiary of Options Energy Group Limited, and the results are included in the consolidated accounts of that company available at Companies House. Its registered office is Harlow Enterprise Hub, Ff05 Kao Hockham Building, Edinburgh Way, Harlow, Essex, CM20 2NQ. During the prior period, the parent company, Options Energy Group Limited, was acquired by an Employee Ownership Trust. The ultimate controlling party is Options Energy Group Employee Ownership Trust by virtue of its controlling interest in the share capital of the Group.
14. | Auditor's information
The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 22 July 2026 by Graham Wallace (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
Page 10