RHYL FLATS WIND FARM LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The going concern basis is considered to be appropriate by the directors as the company is in a net current asset position and financial obligations are forecast to be covered by operational cash flows. On this basis, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from date of signing. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.”

Significant events

• “Revenue has decreased by 9.77% from prior year. This decrease is due to reduced power prices and also a reduction in generation. The company generated 263.33 GWh of electricity in 2024 (2023: 275.24 GWh). The decrease in profit is primarily driven by the lower revenue in 2024.”
• “The reduction in net assets is driven by the payment of dividends.”
• “The directors have approved dividends of £22,900k having taken into consideration the interest of the company's members as laid out in the shareholders' agreement, the future funding requirements of the business, and the latest forecast revenue and operating costs.”
• “A share premium reduction was approved on the 4th December 2024, leading to the creation of retained earnings.”
• “A restatement has been made in relation to the recognition of the fixed element of the seabed lease. The fixed element of the contract was incorrectly recognised over a 12 month period rather than the 6 month period per the contract, leading to the lease liability being understated.”
• “During the year, management identified a vessel contract which originated in previous periods. This lease met the conditions to be capitalised under IFRS 16. As a result, the 2023 comparatives have been restated to reflect the capitalisation of these leases in the correct period.”
• “During the current year, the company identified an omission in the measurement of the decommissioning provision as previously reported. Specifically, certain onshore costs were not included in the provision recognised previously. As a result, the comparative amounts have been restated to correct this error.”

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

Filings

5

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -40.9%

  £13,943,000 → £8,247,000

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Profit before tax

  -19.7%

  £24,053,000 → £19,313,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers