ISG RENEWABLES 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 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the 31 December 2024, the Company had net current liabilities of £46,004,053 (2023: £25,246,835), net assets of £1,209,899 (2023: £997,135) and cash balances of £5,369 (2023: £17,965). The Company continues to meet its day-to-day liquidity requirements through its cash resources and the ongoing financial support provided by the shareholders. One of the key cash outflows of the Company is the payment of distributions, which is discretionary. As at 31 December 2024, the Company owed the shareholders £43,096,759 in the form of loan notes (2023: £24,257,785). The Company has received confirmation from the shareholders that they will not demand redemption of the loan notes or seek repayment of interest on these loan notes for a period of at least 12 months from the date of approval of this report unless the Company has sufficient cash to finance its ongoing obligations.”

Group structure

1. ISG RENEWABLES LIMITED · parent
   1. Bicker Fen Solar Limited 100% · England and Wales
   2. Carn Nicholas Solar Limited 100% · England and Wales
   3. Elms ISG Solar Limited 100% · England and Wales

Significant events

• “During 2024, the Company entered into an agreement to acquire a solar farm, Newbold Pacey Solar Limited on 5 April 24 for £7.4m (including deferred consideration). The name of the SPV was subsequently changed to Elms ISG Solar Limited and it began generating in December 2024.”
• “Carn Nicholas generated 9.5 GWh of power in the period, which was slightly under budget, however, expenses were favourable. This resulted in the site performing slightly adversely for the year.”
• “Construction was delayed on Bicker Fen and it also suffered some issues with inverters in 2024 which resulted in the site generating 11.8 GWh against a budget of 21.4 GWh. This resulted in adverse revenue of £0.9m and a favourable overall position of £0.5m.”
• “On 04 April 2025 the Company took 100% control of Tolldish ISG Solar Limited for £5.1m. This transaction was funded by debt provided by Greencoat Solar Assets II Limited.”
• “Elms ISG Solar Limited achieved Provisional Acceptance Certificate ('PAC') on 03 February 2025. As a result, deferred consideration of £1.6m due on the sale was settled 26 June 2025.”

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

5

last 24 months

Officers appointed

0

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.

• Turnover

  —

  Not reported

• Cash

  -70.1%

  £17,965 → £5,369

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Profit before tax

  +100.8%

  -£721,188 → £5,712

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