WANAGEESKA LIMITED

Company number

08166944

Status

Active

Incorporation

2012-08-03

Last accounts made up

2025-03-31

Account category

FULL

Primary SIC

35110

Hubs

UK Energy & Climate

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

KPMG

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The statement of financial position as set out on page 11 discloses an excess of liabilities over assets of £55,678 at 31 March 2025 (2024: £552,000), mainly as a result of an amount of £4,351,453 due to NTR UK Solar 1 Holdings Limited, the Company's immediate parent. Notwithstanding this and having carefully considered the Company's financial position and prospects, the directors consider it appropriate that the financial statements be prepared on a going concern basis. The parent company has confirmed that it will not seek repayment of loans advanced to the Company for a period of twelve months from the date of approval of the financial statements.”

Significant events

• “Irradiation Variability - the actual level of irradiation may be lower than expected on a short term or long-term basis. These fluctuations will affect the amount of energy produced by the renewable energy generating asset and the revenue generated.”
• “Power Price Fluctuations - the wholesale power price for electricity can vary due to factors such as level of supply and demand, market sentiments due to changes in geopolitics, high levels of wind generation and changes in commodity prices.”
• “Government Support - the Company's financial performance may be negatively impacted by declines in government funding programs for renewable energy assets, as well as changes in regulatory requirements or changes in tax law or practice that adversely affect renewable energy generators.”
• “Component Resourcing Risk - due to changes in geopolitics (resulting in Brexit or the imposition of new tariffs, for example), sourcing components across borders poses a risk to the continuing operations of the Company, including longer lead times for component delivery and increased taxes and import duties.”
• “Operations Risk - the Company is exposed to a number of operational risks including the impact of force majeure events, plant breakdowns, and electricity network failures.”
• “Constraint and Curtailment Risk - with increased penetration of renewables on the grid network, the Group's renewable energy generating assets may be required to stand down from dispatching during higher producing periods, which would affect the amount of revenue otherwise generated.”
• “Geopolitical Risk - increased geopolitical risk has impacted global financial markets, exacerbating economic challenges such as rising inflation and global supply chain disruption, while also contributing to volatility in wholesale power prices across Europe in the short term. The Directors will continue to actively monitor the situation; however, they believe they have adequately mitigated the risks facing the Company and other uncontrollable factors where possible.”
• “Electricity Generator Levy (EGL) - In January 2023 UK government has announced a temporary Electricity Generator Levy of 45% on the extraordinary revenues of low carbon electricity generators. The EGL will be effective from 1 January 2023, and is intended to end by 31 March 2028. The Directors will continue to monitor its impact on the profitability of the Company.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers