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Registration number: 12281185

Garbet Wind Farm Holdings 2 Limited

Filleted Financial Statements

for the Year Ended 31 December 2025

 

Garbet Wind Farm Holdings 2 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Garbet Wind Farm Holdings 2 Limited

Company Information

Directors

B Coles

H R Down

P K Hughes

W T K Teo

Registered office

114 St Martin's Lane
Covent Garden
London
United Kingdom
WC2N 4BE

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Garbet Wind Farm Holdings 2 Limited

(Registration number: 12281185)
Balance Sheet as at 31 December 2025

Note

2025
£

2024
£

Fixed assets

 

Investments

7

1

1

Current assets

 

Debtors

8

1

8,950

Creditors: Amounts falling due within one year

9

(61,430)

(35,794)

Net current liabilities

 

(61,429)

(26,844)

Net liabilities

 

(61,428)

(26,843)

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

(61,429)

(26,844)

Shareholders' deficit

 

(61,428)

(26,843)

These financial statements have been prepared and 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 Board on 24 September 2026 and signed on its behalf by:
 

.........................................
P K Hughes
Director

 

Garbet Wind Farm Holdings 2 Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
United Kingdom

Principal activity

The principal activity of the Company is as a partner in a wind farm project.

These financial statements were authorised for issue by the Board on 24 September 2026.

2

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.

Going concern

The company made a loss in the year and has net current liabilities. The company is reliant on the support of its parent company to continue as a going concern. Confirmation of this support has been provided and therefore, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Tax

The tax expense for the period comprises 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date so that the carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Garbet Wind Farm Holdings 2 Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

Joint ventures

Investments in the capital of jointly controlled entities incorporated as limited liability partnerships are treated as fixed asset investments. Shares of profits or losses of those partnerships are recognised as other operating income or expenses. Current accounts in the partnerships are included in debtors or creditors.

 

Garbet Wind Farm Holdings 2 Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 24 September 2026 was Thomas Solis, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company during the year was 0 (2024 - 0).

6

Auditors' remuneration

The auditors' remuneration has been borne by another group company in both the current year and the prior year.

7

Investments

2025
£

2024
£

Investments in joint ventures

1

1

Joint ventures

£

Cost

At 1 January 2025

1

At 31 December 2025

1

Carrying amount

At 31 December 2025

1

At 31 December 2024

1

 

Garbet Wind Farm Holdings 2 Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

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:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2024

Joint ventures

Garbet Wind Farm LLP

114 St Martin's Lane, Covent Garden, London, England,
WC2N 4BE

Partnership

50%

50%

8

Debtors

2025
£

2024
£

Amounts owed by related parties

1

1

Deferred tax assets

-

8,949

1

8,950

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Amounts due to related parties

61,430

35,794

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1