Heron Storage Ltd 28/02/2026 iXBRL

Company registration number: NI682405

HERON STORAGE LTD

UNAUDITED FILLETED FINANCIAL STATEMENTS

28 February 2026

HERON STORAGE LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026

_________________________________________________________________________________________

Contents

Directors and other information

Accountants report

Balance sheet

Statement of changes in equity

Notes to the financial statements

HERON STORAGE LTD

DIRECTORS AND OTHER INFORMATION

________________________________________________________________________________________


	Directors	Mr Damian Heron
		Mr Emmet Heron
		Mr Damien O'Callaghan
		Mr Neil Bradley


	Company number	NI682405


	Registered office	2 St. Patrick's Street
		Draperstown
		Co. Derry
		BT45 7AL


	Business address	2 St. Patrick's Street
		Draperstown
		Co. Derry
		BT45 7AL


	Accountants	Kelly & O'Neill Ltd
		15E Molesworth Street
		Cookstown
		Co. Tyrone
		BT80 8NX




	Bankers	AIB
		2 Ann Street
		Belfast
		BT1 3HH


	Solicitors	Arthur Cox
		Victoria House
		Gloucester House
		Belfast
		BT1 4LS

HERON STORAGE LTD

REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HERON STORAGE LTD

YEAR ENDED 28 FEBRUARY 2026

________________________________________________________________________________________

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heron Storage Ltd for the year ended 28 February 2026 which comprise the Balance Sheet, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the board of directors of Heron Storage Ltd, as a body, in accordance with the terms of our engagement letter dated 15 October 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Heron Storage Ltd and state those matters that we have agreed to state to the board of directors of Heron Storage Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heron Storage Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Heron Storage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heron Storage Ltd. You consider that Heron Storage Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Heron Storage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kelly & O'Neill Ltd

Chartered Accoutnants

15E Molesworth Street

Cookstown

Co. Tyrone

BT80 8NX

15 October 2026

HERON STORAGE LTD

BALANCE SHEET

28 FEBRUARY 2026

_________________________________________________________________________________________

		2026		2025
	Note	£	£	£	£

Fixed assets
Tangible assets	4	15,761,738		9,612,178
		_______		_______
			15,761,738		9,612,178

Current assets
Stocks		8,849,539		8,842,874
Debtors	5	1,368,073		776,185
Cash at bank and in hand		746,281		175,878
		_______		_______
		10,963,893		9,794,937
Creditors: amounts falling due
within one year	6	( 26,356,513)		( 19,316,441)
		_______		_______
Net current liabilities			( 15,392,620)		( 9,521,504)
			_______		_______
Total assets less current liabilities			369,118		90,674

			_______		_______
Net assets			369,118		90,674
			_______		_______

Capital and reserves
Called up share capital			55		55
Profit and loss account			369,063		90,619
			_______		_______
Shareholders funds			369,118		90,674
			_______		_______

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 October 2026 , and are signed on behalf of the board by:

Mr Damien O'Callaghan

Director

Company registration number: NI682405

HERON STORAGE LTD

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 28 FEBRUARY 2026

_______________________________________________________________________________

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 October 2021	55	679,291	679,346

Profit/(loss) for the year		( 588,672)	( 588,672)
	_______	_______	_______
Total comprehensive income for the year	-	( 588,672)	( 588,672)

	_______	_______	_______
At 28 February 2025 and 1 March 2025	55	90,619	90,674

Profit/(loss) for the year		278,444	278,444
	_______	_______	_______
Total comprehensive income for the year	-	278,444	278,444

	_______	_______	_______
At 28 February 2026	55	369,063	369,118
	_______	_______	_______

HERON STORAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2026

_______________________________________________________________________________________

1. General information

The company is a private company limited by shares, registered in N. Ireland. The address of the registered office is 2 St. Patrick's Street, Draperstown, Co. Derry, BT45 7AL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	10 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 March 2025	9,612,178	9,612,178
Additions	6,947,032	6,947,032
	_______	_______
At 28 February 2026	16,559,210	16,559,210
	_______	_______
Depreciation
At 1 March 2025	-	-
Charge for the year	797,472	797,472
	_______	_______
At 28 February 2026	797,472	797,472
	_______	_______
Carrying amount
At 28 February 2026	15,761,738	15,761,738
	_______	_______
At 28 February 2025	9,612,178	9,612,178
	_______	_______

5. Debtors

	2026	2025
	£	£
Trade debtors	550,248	441,472
Other debtors	817,825	334,713
	_______	_______
	1,368,073	776,185
	_______	_______

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	118,164	109,037
Other creditors	26,238,349	19,207,404
	_______	_______
	26,356,513	19,316,441
	_______	_______

7. Related Party Transactions

The company is exempt under the terms of FRS8 "related party disclosures" from disclosing related party transactions that are part of the group.

8. Ultimate Controlling Party

The ultimate controlling party is Heron Bros. Energy Limited, an Isle of Man registered company which owns the entire share capital in Herom Storage Ltd.