TERRAVESTA ASSURED ENERGY CROPS LIMITED


Directors	Mr M H Bichan
	Mr W Cracroft-Eley


Registered Address	12 Tentercroft Street
	Lincoln
	LN5 7DB


Place of Business	Unit 4
	Riverside Enterprise Park
	Saxilby
	Lincoln
	LN1 5AB


Registered Number	07791830 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Group accounts not prepared The company is exempt from the obligation to prepare and deliver group accounts.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Borrowing costs
	Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Asset class Depreciation method and rate Other property, plant and equipment 20% and 25% reducing balance

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Asset class                                                                     Depreciation method and rate
Other property, plant and equipment                             20% and 25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Business combinations Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 January 25	25,881	25,881
Additions	10,878	10,878
At 31 December 25	36,759	36,759
Depreciation and impairment
At 01 January 25	18,423	18,423
Charge for year	3,649	3,649
At 31 December 25	22,072	22,072
Net book value
At 31 December 25	14,687	14,687
At 31 December 24	7,458	7,458

4.	Fixed asset investments
	Details of undertakings Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows: Bisel Limited, Estate Office Hackthorn Hall, Hackthorn, Lincoln, Lincolnshire ,LN2 3PQ, England with a holding of Ordinary A shares with a proportion of voting rights and shares held of 98.99% (2024 98.99%) Bisel Limited with a holding of Ordinary B shares with a proportion of voting rights and shares held of 46.27% (2024 46.27%) Bicep Limited, Estate Office Hackthorn Hall, Hackthorn, Lincoln, Lincolnshire, LN2 3PQ, England with a holding of Ordinary shares with a proportion of voting rights and shares held of 100% (2024 100%) Subsidiary undertakings Bisel Limited The principal activity of Bisel Limited is post harvest crop activities. Bicep Limited The principal activity of Bicep Limited is processing of bio fuels.

Fixed asset investments

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Bisel Limited, Estate Office Hackthorn Hall, Hackthorn, Lincoln, Lincolnshire ,LN2 3PQ, England with a holding of Ordinary A shares with a proportion of voting rights and shares held of 98.99% (2024 98.99%)
Bisel Limited with a holding of Ordinary B shares with a proportion of voting rights and shares held of 46.27% (2024 46.27%)
Bicep Limited, Estate Office Hackthorn Hall, Hackthorn, Lincoln, Lincolnshire, LN2 3PQ, England with a holding of Ordinary shares with a proportion of voting rights and shares held of 100% (2024 100%)

Subsidiary undertakings
Bisel Limited
The principal activity of Bisel Limited is post harvest crop activities.
Bicep Limited
The principal activity of Bicep Limited is processing of bio fuels.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 25	35,000	35,000
Revaluations	(35,000)	(35,000)
Net book value
At 31 December 25	-	-
At 31 December 24	35,000	35,000

	Notes
	¹Investments in group undertakings and participating interests

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	488,329	350,426
Total	488,329	350,426

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	60,676	10,036
Amounts owed by group undertakings	126,749	-
Total	187,425	10,036

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	343,206	50,666
Bank borrowings and overdrafts	10,000	10,000
Amounts owed to related parties	365,148	507,634
Other creditors	-	125,000
Total	718,354	693,300

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	2,500	12,500
Total	2,500	12,500


	The overdraft is secured on the assets of the company. Bank loan is denominated in £ with a nominal interest rate of 2.5%. The final instalment is due on 16 March 2027 The carrying amount at year end is £12,500 (2024 - £22,500)

9.	Related party transactions
	Summary of transactions with other related parties Group companies During the year royalties of £nil (2024 - £nil) were paid to group companies. During the year management fees of £200,000 (2024 - £200,000) were paid to group companies. At the year end £nil (2024 - £Nil) was owed to Terravesta Assured Energy Crops Limited by group companies and £238,399 (2024 - £507,634) was owed to group companies by Terravesta Assured Energy Crops Limited.

Related party transactions

Summary of transactions with other related parties
Group companies
During the year royalties of £nil (2024 - £nil) were paid to group companies.
During the year management fees of £200,000 (2024 - £200,000) were paid to group companies.
At the year end £nil (2024 - £Nil) was owed to Terravesta Assured Energy Crops Limited by group companies and £238,399 (2024 - £507,634) was owed to group companies by Terravesta Assured Energy Crops Limited.

10.	Parent-subsidiary relationships
	The company's immediate parent is Terravesta Limited, incorporated in England. The ultimate parent is Terravesta Holdings Limited, incorporated in England.

11.	Further information regarding the company's financial position
	Going Concern Management have concluded that material uncertainties exist in regard to the going concern of the group controlling this company. The material uncertainty has a direct effect on the going concern of the individual companies of the group and the ability to continue trading. In previous years the group and its subsidiaries have relied on working capital and cash funding from third party funders and direct shareholder or director loans. The material uncertainty has arisen over whether this method of funding will continue into the future. The future of this group and subsidiaries is heavily reliant on the continued support of its third party funders and directors or shareholders funds.

11.

Further information regarding the company's financial position

Going Concern
Management have concluded that material uncertainties exist in regard to the going concern of the group controlling this company. The material uncertainty has a direct effect on the going concern of the individual companies of the group and the ability to continue trading. 
In previous years the group and its subsidiaries have relied on working capital and cash funding from third party funders and direct shareholder or director loans. The material uncertainty has arisen over whether this method of funding will continue into the future. The future of this group and subsidiaries is heavily reliant on the continued support of its third party funders and directors or shareholders funds.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		14,687		7,458
Investments	4		-		35,000
			14,687		42,458
Current assets
Stocks	5	488,329		350,426
Debtors	6	187,425		10,036
Cash at bank and on hand		5,386		1,624
		681,140		362,086
Creditors amounts falling due within one year	7	(718,354)		(693,300)
Net current assets (liabilities)			(37,214)		(331,214)
Total assets less current liabilities			(22,527)		(288,756)
Creditors amounts falling due after one year	8		(2,500)		(12,500)
Net assets			(25,027)		(301,256)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(25,127)		(301,356)
Shareholders' funds			(25,027)		(301,256)