PACE Underhill Energy Limited Accounts






PACE Underhill Energy Limited

	Company No. 14943339
		Information for Filing with The Registrar
		31 January 2026

at	31 January 2026
Company No.		14943339	Notes	2026	2025
					As restated
				£	£
Fixed assets

	Tangible assets		5	337,567	393,037


				337,567	393,037
Current assets

	Debtors		6	-	19,173

	Cash at bank and in hand			17,218	17,218
				17,218	36,391
Creditors: Amount falling due within one year			7	(357,509)	(431,052)
Net current liabilities				(340,291)	(394,661)
Total assets less current liabilities				(2,724)	(1,624)




Net liabilities				(2,724)	(1,624)

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		9	(2,725)	(1,625)

Total equity				(2,724)	(1,624)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the period ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 21 October 2026 and signed on its behalf by:
R.C. Denman
Director
21 October 2026

for the period ended 31 January 2026

General information

PACE Underhill Energy Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 14943339

Its registered office is:

Central House

20 Central Avenue

St Andrews Business Park

Norwich

NR7 0HR

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

0% Not depreciated

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Reclassification of inventory

During the year the directors reconsidered the classification of expenditure on its renewable energy projects and determined that carrying the projects costs within work in progress was not a fair representation of the actual future use and benefit of the spend. The prior period has therefore been restated to correctly classify these costs as a tangible fixed asset under construction. At the year end total project costs of £337,567 (2025: £393,037) are now shown within tangible fixed assets.

4	Employees
			2026	2025
			Number	Number
		The average monthly number of employees (including directors) during the period:	4	4

5	Tangible fixed assets (as restated)
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 May 2025	393,037	393,037



		Disposals	(55,470)	(55,470)
		At 31 January 2026	337,567	337,567
		Depreciation






		Net book values
		At 31 January 2026	337,567	337,567
		At 30 April 2025	393,037	393,037

6	Debtors
			2026	2025
			£	£




		VAT recoverable	-	19,173



			-	19,173

7	Creditors:
		amounts falling due within one year
			2026	2025
			£	£




		Trade creditors	-	81,853
		Amounts owed to group undertakings	356,408	348,373



		Accruals and deferred income	1,101	826
			357,509	431,052

Share Capital

The company has in issue 1 £1.00 Ordinary share, which is paid up at par.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

Transactions with related parties

The ultimate parent company is Pathfinder Clean Energy (PACE) Limited and transactions with the group are not disclosed on the grounds the company is a 100% subsidiary.