ESP ELECTRICITY LIMITED

1. ESP ELECTRICITY LIMITED 2008-02-05 → present
2. LAING O'ROURKE ENERGY LIMITED 2006-06-12 → 2008-02-05
3. LAING ENERGY LIMITED 2003-06-19 → 2006-06-12
4. SHELFCO (NO. 2836) LIMITED 2003-04-01 → 2003-06-19

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Company has adequate resources to continue operating for the foreseeable future given the long-term nature of its regulated income, cash generation and future order book, and have prepared the financial statements on a going concern basis as set out in note 1. The financial statements have been prepared on a going concern basis, notwithstanding that at 31 December 2024 the Company had net current liabilities of £92,425,000 (2023: £73,442,000). The Company is dependent for its working capital on funds provided to it by a fellow group undertaking. This group undertaking has confirmed it will not seek repayment of amounts outstanding to the extent that to do so would prevent the Company being able to meet its liabilities as they fall due in the twelve-month period from the date of approving these financial statements. This should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.”

Significant events

• “Decision to launch ESP District Heating: During early 2024 the Directors took the decision to enter the District Heating market and developed a proposition for the UK new housing market offering a cost-effective alternative to gas heating and air source heat pumps for larger housing developments.”
• “Decision to employ more technical staff and senior management: During 2024 the Board recognised that as the Group continues to grow and diversify, there is a need to strengthen the technical depth of the operational teams, and to recruit additional specialist senior managers in areas such as HR and IT to support the Executive team.”
• “Decision to increase staff annual holiday entitlement: During 2024 the Directors reviewed the annual holiday entitlement to all staff, benchmarking against both the local and industry recruitment market. Following this review, an extra day was granted to all staff during 2024, and from 1st January 2025 all staff received an uplift of 2 days to their full year annual holiday allowance.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.