Registration number:
Hydropower River Leven Ltd
for the Year Ended 31 December 2025
Hydropower River Leven Ltd
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Hydropower River Leven Ltd
Company Information
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Directors |
T Cunningham M Panfili |
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Registered office |
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Auditors |
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Hydropower River Leven Ltd
(Registration number: SC608127)
Statement of Financial Position as at 31 December 2025
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Note |
31 December |
31 December |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
525,951 |
256,200 |
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Shareholders' funds |
525,952 |
256,201 |
These accounts 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
The principal place of business is:
Kinlochleven Power Station
Fort William
PH33 6TH
Scotland
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Going concern
The directors have assessed the financial position of the company, including its operational performance, funding arrangements, and future cash flow projections. Based on this assessment, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing the financial statements.
The company operates a hydroelectric generation scheme with power purchase agreements in place, providing predictable revenue streams. The directors have considered potential risks including variations in water flow, maintenance requirements, and regulatory changes. Stress testing and scenario analysis have been undertaken to evaluate the impact of adverse conditions.
The company maintains sufficient liquidity and has access to technical and operational support to ensure continuity of generation. No material uncertainties have been identified that would cast significant doubt on the company’s ability to continue as a going concern.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant & machinery |
40 years Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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Tangible assets |
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Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2025 |
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At 31 December 2025 |
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At 1 January 2025 |
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Charge for the year |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Stocks |
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31 December |
31 December |
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Other inventories |
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Debtors |
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31 December |
31 December |
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Trade debtors |
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Other debtors |
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Prepayments |
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Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
31 December |
31 December |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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31 December |
31 December |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Allotted, called up and not fully paid shares
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31 December |
31 December |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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31 December |
31 December |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
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Related party transactions |
Summary of transactions with parent
Summary of transactions with subsidiaries
Hydropower River Leven Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is