REGISTERED NUMBER: SC710079 (Scotland)

Financial Statements For The Year Ended 31 December 2025

for

Koehler Renewable Energy UK Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

N F L Christoph

A Mathewson

REGISTERED OFFICE:

c/o Robb Ferguson

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC710079 (Scotland)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

2,831,954

1,755,195

Investments

5

200

-

2,832,154

1,755,195

CURRENT ASSETS

Debtors

6

351,812

241,951

Cash at bank

91,897

127,309

443,709

369,260

CREDITORS

Amounts falling due within one year

7

1,692,618

1,917,913

NET CURRENT LIABILITIES

(1,248,909

)

(1,548,653

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,583,245

206,542

CAPITAL AND RESERVES

Called up share capital

3,000,010

1,000,010

Retained earnings

(1,416,765

)

(793,468

)

1,583,245

206,542

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 Comprehensive Income 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:

N F L Christoph - Director

1.	STATUTORY INFORMATION

Koehler Renewable Energy UK 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 (£).

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 financial statements have been prepared on a going concern basis. The Directors consider that the going concern basis is appropriate as although the company has net liabilities at the year end date, related parties have confirmed their continued support as required.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Development costs

Development costs are reclassified as costs of investment when the renewable energy sites are completed. There is no depreciation charged on development costs as the sites are not yet operational.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Development

Motor

Computer

costs

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

1,726,602

58,106

2,492

1,787,200

Additions

1,193,733

-

2,484

1,196,217

Disposals

(111,373

)

-

-

(111,373

)

At 31 December 2025

2,808,962

58,106

4,976

2,872,044

DEPRECIATION

At 1 January 2025

-

30,869

1,136

32,005

Charge for year

-

6,809

1,276

8,085

At 31 December 2025

-

37,678

2,412

40,090

NET BOOK VALUE

At 31 December 2025

2,808,962

20,428

2,564

2,831,954

At 31 December 2024

1,726,602

27,237

1,356

1,755,195

Development costs include legal and professional fees, material costs, consulting fees, project management and health and safety in relation to the construction of the renewable energy sites.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

200

At 31 December 2025

200

NET BOOK VALUE

At 31 December 2025

200

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

KRE Blackhills Ltd

Registered office: 70 West Regent Street, C/O Robb Ferguson, Glasgow, Scotland, G2 2QZ

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

KRE Rowancraig Ltd

Registered office: 70 West Regent Street, C/O Robb Ferguson, Glasgow, Scotland, G2 2QZ

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Intercompany debtor

196,119

175,536

VAT

67,647

57,877

Prepayments & accrued income

88,046

8,538

351,812

241,951

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,901

97,170

Social security and other taxes

11,359

-

Other creditors

1,597,322

1,679,539

Accrued expenses

66,036

141,204

1,692,618

1,917,913

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

80,145

38,400

Between one and five years

255,574

-

335,719

38,400

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

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Similar to other companies involved in the development of renewable energy, the carrying value of development costs (£2,808,962) includes various sites at different stages of the planning and development process which, depending on whether planning permission is obtained,may or may not be recoverable in the future. The company's expectation for all costs carried as fixed assets is that the relevant permissions will be obtained in due course.

Where planning permission has not been obtained at the date of sign off of the financial statements, the conditions of FRS102 Section 1a are not met to enable capitalisation of development costs, and thus such costs should be expensed through the Statement of Comprehensive Income until such conditions are met.

We also refer to our modified audit opinion in respect of development costs capitalised at 31 December 2025 (£2,808,962).

Accordingly, the reasonableness of the carrying value of development costs at the year end (£2,808,962) and the previous year end (£1,726,602) cannot be confirmed.

Janice Alexander (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Koehler Renewable Energy GmbH, incorporated in Germany. The ultimate parent undertaking in which the results of the company are consolidated is Koehler Holding SE & Co. KG, Hauptstrasse 2, Oberkirch,77704, Germany. A copy of the accounts are available upon request on bundesanzeiger.de.