Overview

The trading deficit generated from all utilities at Climate Innovation District 216 Utilities Ltd in 2024 was £4,010 (£12,237 in 2024). This deficit has been added to the C/F deficit from 2024 which was £23,774, which has resulted in a cumulative deficit position of £27,784.

Break even is expected to be reached at around 30 homes. Citu is funding the cashflow shortfalls in the interim.

Electricity

In February 2024 a new supply contract was agreed with Npower which saw the tariff reduce to 0.21p per kWh (plus 5% VAT).

The total cost of electricity consumption billed to residents in the year was £23,968. The amount purchased by Climate Innovation District 216 Utilities Ltd was £21,965.

A total cost of £8,132 was charged to residents for standing charges. The standing charge billed by Npower to Climate Innovation District 216 Utilities Ltd was £6,645. This resulted in a £1,487 surplus on the Consumption and Standing charges.

Site recharges credited to CID Phase 4 totalled £4,256. The last month in which recharges were raised was June 2025 as there was no site in place from this date.

Solar Electricity Generation

There are no solar panels installed yet on the development. The first solar panels will go live in 2026 on the houses along Clarence Road and will be shared collectively by the development. When installed, the benefit of these will result in surplus as less energy will need to be purchased from the main incoming supply.

Data

Climate Innovation District 216 has its own dedicated fibre line from the supplier AQL. The cost being £428 per month.

3TL were appointed as a recognised customer service point in May 2023 for issues regarding dropouts and any other data related queries. The cost being £127.50 per month. The costs incurred in 2025 were £6,382 vs income of £7,743 that was charged to residents. This resulted in a surplus of £1,361. The benefit during this time of low occupation is that the 1GB bandwith is shared between fewer homes so may result in faster speeds.

Other considerations

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Administration

Billing and administration standing charges of £2,111 were charged to residents against costs of £2,112.

Utility Finance and Data Manager costs totalled £1,111. This relates to the overseeing of the billing processes along with monthly data checks and the contract tendering / tariff setting processes.

Accountancy and Book-keeping costs totalled £3,335. This was mainly the costs of Azets (the appointed Accountant) and relates to the monthly and annual management information reporting, payment of invoices and relating account reconciliations.

In line with previous years, the directors received no remuneration for their role.

Debtors & Creditors

As at 31 December 2025, the trade debtors totalled £12,003 and the trade creditors totalled £908.

*Notes

(1) All prices above quoted exclude VAT.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

Climate Innovation District Utilities 216 Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Carlton House, Grammar School Street, Bradford, BD1 4NS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Income and expenses are included in the financial statements as they become receivable or due.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

As at 31 December 2025, the company owed £43,497 (2024 - £26,105) to CITU Group Ltd.