REGISTERED NUMBER: 09812700 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Enstroga Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Muller-Bennerscheidt

REGISTERED OFFICE:

Alexandra House

43 Alexandra Street

Nottingham

Nottinghamshire

NG5 1AY

REGISTERED NUMBER:

09812700 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

CURRENT ASSETS

Debtors

6

1,838,925

1,905,855

Cash at bank

34,935

24,037

1,873,860

1,929,892

CREDITORS

Amounts falling due within one year

7

12,772,960

12,980,991

NET CURRENT LIABILITIES

(10,899,100

)

(11,051,099

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,899,100

)

(11,051,099

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(10,899,200

)

(11,051,199

)

SHAREHOLDERS' FUNDS

(10,899,100

)

(11,051,099

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2026 and were signed by:

J Muller-Bennerscheidt - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Alexandra House, 43 Alexandra Street, Nottingham, NG5 1AY.

The principal activity of the company was previously the supply of gas and electricity to the residential market in the United Kingdom. This activity was discontinued in October 2021 when the company ceased customer supply. Since that date the company has sought to finalise its affairs prior to considering options for closure.

Consequently, all activities reported in the current and comparative periods relate to discontinued operations.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Accruals and prepayments for unbilled customer balances and electricity and gas purchased in advance - detailed analysis is required by the company's specialist accounts management team to estimate unbilled customer usage and to identify the value of electricity and gas purchased in bulk and prepaid at the financial period end.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Going concern

During the year ended 31 December 2021, price volatility in the gas and electricity wholesale market in the Autumn of 2021 escalated into a widespread global energy crisis. This was caused by geopolitical issues, war in Ukraine and a rapid post-pandemic economic rebound that outpaced energy supply.

From mid-2021 the wholesale market price that suppliers paid for gas and electricity rose rapidly to unprecedented levels. Given this, the Board determined that it had became uneconomic for the business to continue to supply customers gas and electricity and applied to Ofgem for support from the Supplier of Last Resort (SoLR) process. The energy regulator appointed a new supplier for the company's customers and a process commenced to make an orderly transfer of customer accounts and supply to the new supplier. The SoLR began supplying energy to Enstroga UK customers on 3 October 2021.

The Board is currently working with its credit control team and third-party debt collection agencies to recover outstanding customer debts accrued prior to the cessation of supply. These activities will continue for the foreseeable future. Once the collection and review process is complete, the Board will assess the company's remaining financial and operational position and consider all available strategic options, which may include restructuring, maintaining the company as a dormant entity, or an orderly closure.

Given the cessation of trade and the absence of any current plans to resume operations, the Board has assessed that the company no longer meets the criteria for a going concern. As a result, the financial statements have been prepared on a non-going concern basis, reflecting the company's current financial position and ongoing wind-down activities.

Impairment

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.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

1,941

DEPRECIATION

At 1 January 2024

and 31 December 2024

1,941

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,031,107

1,075,130

Other debtors

807,818

830,725

1,838,925

1,905,855

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,760,830

1,760,348

Amounts owed to group undertakings

7,341,980

7,553,493

Other creditors

3,670,150

3,667,150

12,772,960

12,980,991

8.	RELATED PARTY DISCLOSURES

Enstroga Energie Holding GmbH is a related party as it is the parent undertaking of Enstroga Limited.

During the year ended 31 December 2024 Enstroga Limited received working capital financing from the parent company.

Creditors at 31 December 2024 included £7,341,980 (2023 - £7,553,493) due to Enstroga Energie Holding GmbH.

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Enstroga Energie Holding GmbH, a company registered in Germany.

The registered office of the parent company is Niederstr. 18, 40789, Monheim am Rhein, Germany.