LEVENSEAT RENEWABLE ENERGY HOLDINGS LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-03-31.

• ⚠

  Material uncertainty over going concern

  The group currently has £219,083,793 (2022 - £201,479,449) of total debt and made a loss of £28,056,332 (2022 - £24,609,373). The financial statements of the group have been prepared on a basis other than going concern, due to the administration of its only subsidiary Levenseat Renewable Energy Limited (LREL") on 14 May 2025. ... This situation indicates the existence of a material uncertainty which may cast significant doubt about the Parent Company's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“The group currently has £219,083,793 (2022 - £201,479,449) of total debt and made a loss of £28,056,332 (2022 - £24,609,373). The financial statements of the group have been prepared on a basis other than going concern, due to the administration of its only subsidiary Levenseat Renewable Energy Limited (LREL") on 14 May 2025. ... This situation indicates the existence of a material uncertainty which may cast significant doubt about the Parent Company's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Group structure

1. LEVENSEAT RENEWABLE ENERGY HOLDINGS LIMITED · parent
   1. Levenseat Renewable Energy Ltd 100% · UK · Renewable energy

Significant events

• “2023 was another challenging year for the business coming out of the EPC contract. A reduction in power produced and power prices meant that turnover reduced compared to 2022. Availability of the plant was similar to 2022 and is still impacted by stability issues.”
• “One of the key business counterparties, Levenseat Limited ("LL"), went into administration in March 2025 leaving significant debts unpaid to the business and thus putting a strain on cash.”
• “Ultimately the lenders unexpectedly withdrew support on the 2nd May 2025.”
• “On the 2 May 2025, Investec informed the group they would not participate in further funding negotiations, and a decision was taken by the directors on 2 May 2025 to cease trading, turn the plant off and appoint administrators of Levenseat Renewable Energy Limited which was formalized by the courts on the 14 May 2025 to allow the company to refinance its loans.”
• “The group was able to amend and restate the loan agreement with Investec in March 2024 which provided a waiver for the breach of loan and allowed the scheduled repayment of £1.8m which was due at 31 December 2023 to be deferred as PIK notes until June 2025.”
• “As part of the completion conditions for the amendment and restatement of the loan there was a requirement for the shareholders to provide additional funding to the company of £7.3m which was received on 22 March 2024.”

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

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.