BALMEANACH WIND FARM LIMITED

1. BALMEANACH WIND FARM LIMITED 2022-08-03 → present
2. WIND 2 PROJECT 1 LIMITED 2020-08-20 → 2022-08-03

Latest accounts filed cover 2024-12-31; financial figures currently reflect up to 2021-12-31.

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

CT Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As of 31 December 2024, the company's current liabilities exceeded their current assets by £2,730,942 (31 December 2023: £2,985,091). The company's parent, EDP Renewables S.A., committed to provide all the required funding to Balmeanach Wind Farm Limited for the activities relating with the development of the wind farm project. The funding has been agreed to a maximum limit of £7,000,000 of which £3,016,505 was borrowed by the 31st of August 2025. The funding of the company is provided via cash-pooling directly from EDP Renewables UK Limited, with a starting date on the 27th of July 2024 and renewable annually at the anniversary date for 12 months. The directors are confident that the company is able to operate as a going concern and is able to settle its liabilities as they fall due, for a period of at least the next 12 months.”

Significant events

• “By the end of 2023 the company sought to recapitalise its balance sheet in order to be in a more solid financial position. As a result, on the 25th of January 2024 the company completed a recapitalisation operation by converting part of its outstanding shareholder borrowings (debt) into equity. The operation was executed by issuing new share capital, granting the existing shareholder newly issued £1 ordinary shares for each £1 of shareholder debt. The total amount of debt converted into new share capital was in a total of £1,211,823, maintaining the existing shareholder structure of the company.”
• “In July 2024, Balmeanach Wind Farm Limited has entered a cash-pooling arrangement with EDP Renewables UK Limited which acts as the sole lender. This arrangement replaces the previous intra-group borrowing structure explained in the paragraphs above, with the outstanding year-end balance being absorbed into the cash-pooling arrangement.”

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

Filings

3

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.

• Turnover

  —

  Not reported

• Cash

  +24,267%

  £100 → £24,367

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Profit before tax

  -16,536%

  -£1,472 → -£244,882

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