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Registered number: SC197192
KNOYDART RENEWABLES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KNOYDART RENEWABLES LIMITED
COMPANY INFORMATION
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S Harris (resigned 14 May 2026)
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M Porter (appointed 10 May 2026)
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C Smith (appointed 5 June 2026)
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J Wilson (appointed 10 September 2025)
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Chartered Accountants & Statutory Auditors
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KNOYDART RENEWABLES LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Interest receivable and similar income
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Interest payable and similar expenses
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Retained earnings at the beginning of the year
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Profit/(loss) for the year
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Donations paid to parent charity
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Retained earnings at the end of the year
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The notes on pages 4 to 9 form part of these financial statements.
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KNOYDART RENEWABLES LIMITED
REGISTERED NUMBER: SC197192
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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KNOYDART RENEWABLES LIMITED
REGISTERED NUMBER: SC197192
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2026.
The notes on pages 4 to 9 form part of these financial statements.
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Knoydart Renewables Limited is a private company, limited by shares, registered in Scotland with registration number SC197192. The registered office is The Knoydart Foundation Office, Inverie, Knoydart, Mallaig, PH41 4PL. These accounts are presented in pounds sterling, which is the functional currency of the company, rounded to the nearest pound.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the supply of electricity is recognised when the electricity has been supplied to the customer. These supplies are measured using quarterly readings of meters which is apportioned across the time covered on a straight-line basis.
Turnover from connection charges for new connections to the Knoydart grid are recognised when the connection goes live and the customer is able to obtain supply of electricity through the connection.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.
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Donations paid to parent company
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Donations paid to the parent company are, for the purposes of Companies Act 2006, distributions to the 100% shareholder, Knoydart Foundation. Accordingly, such donations are shown as equity movements and are recognised when they become legally payable.
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The average monthly number of employees, including the directors, during the year was as follows:
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Raw materials and consumables
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Creditors: Amounts falling due within one year
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Community dam improvement loans
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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KNOYDART RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Analysis of the maturity of loans is given below:
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Community dam improvement loans
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Allotted, called up and fully paid
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140,000 (2024 - 140,000) Ordinary £1 shares shares of £1.00 each
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The company's immediate parent and the ultimate controlling party is Knoydart Foundation (SC171248), which has its registered office at The Office, Knoydart, PH41 4PL. Knoydart Foundation heads the largest and smallest group into whose accounts the company's accounts are consolidated. Copies of the accounts are available from the registered office.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 28 September 2026 by Douglas Rae (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.
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