| REGISTERED NUMBER: |
| Boston Renewables Limited |
| Unaudited Financial Statements for the Year Ended 31st December 2025 |
| REGISTERED NUMBER: |
| Boston Renewables Limited |
| Unaudited Financial Statements for the Year Ended 31st December 2025 |
| Boston Renewables Limited (Registered number: 07468469) |
| Contents of the Financial Statements |
| for the year ended 31st December 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Boston Renewables Limited |
| Company Information |
| for the year ended 31st December 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| Boston Renewables Limited (Registered number: 07468469) |
| Balance Sheet |
| 31st December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| Boston Renewables Limited (Registered number: 07468469) |
| Notes to the Financial Statements |
| for the year ended 31st December 2025 |
| 1. | STATUTORY INFORMATION |
| Boston Renewables Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements. |
| Going concern |
| The directors, having assessed the situation and developed expectations for the foreseeable future, have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. Therefore these accounts have been prepared on the going concern basis. |
| Turnover |
| Turnover represents net invoiced sales of renewable energy systems, excluding value added tax. |
| Turnover is recognised when the renewable energy systems have been installed for projects that do not span over a year end. For projects that span over a year end, turnover is recognised by reference to the stage of completion as measured by the proportion that costs incurred to date bear to the estimated total costs. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation. |
| The company assesses at each reporting date whether tangible fixed assets (including those leased under a finance lease) are impaired. |
| Depreciation is charged to the profit and loss account over the estimated useful lives of each part of an item of tangible fixed assets, as follows: |
| - | Motor Vehicles | 25% Straight Line |
| Depreciation methods, useful lives and residual values are reviewed, if there is an indication, of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits. |
| Basic financial instruments |
| Trade and other debtors/creditors |
| Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. |
| 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 balance sheet date. |
| Foreign currencies |
| Transactions in foreign currencies are translated into the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. |
| 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. |
| Boston Renewables Limited (Registered number: 07468469) |
| Notes to the Financial Statements - continued |
| for the year ended 31st December 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Expenses |
| Operating lease |
| Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expense. |
| Interest receivable and interest payable |
| Interest income and interest payable are recognised in profit and loss as they accrue, using the effective interest method. Foreign currency gains and losses are reported on a net basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st January 2025 |
| and 31st December 2025 |
| DEPRECIATION |
| At 1st January 2025 |
| Charge for year |
| At 31st December 2025 |
| NET BOOK VALUE |
| At 31st December 2025 |
| At 31st December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The company's bank has a fixed charge over certain assets of the company as security for the bank loan. |
| Boston Renewables Limited (Registered number: 07468469) |
| Notes to the Financial Statements - continued |
| for the year ended 31st December 2025 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value | £ | £ |
| 9,858 | Ordinary A | £0.01 | 99 | 99 |
| 942 | Ordinary B | £0.01 | 9 | 9 |
| 1,200 | Ordinary C | £0.01 | 12 | 12 |
| 435 | Ordinary D | £0.01 | 4 | 4 |
| 124 | 124 |
| 8. | RELATED PARTY DISCLOSURES |
| Expenditure with Bostonair Group Limited, a company under common control, totalled £137,844 (2024: £125,633) during the year. This expenditure related to management and overhead recharges.The balances owed to this entity was £1,218 (2024 £3,157) at the year end. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company's ultimate parent company is Salar Ventures Limited. |