BUCHAN OFFSHORE WIND LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. BUCHAN OFFSHORE WIND LIMITED 2023-03-06 → present
2. FLOATING ENERGY ALLYANCE 1 LIMITED 2022-01-12 → 2023-03-06

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company made a loss of £502k in the year (2023: £505k) and had net assets of £66,103k (2023: £58,424k) and net current assets of £1,756k (2023: £2,262k). The financial statements have been prepared on a going concern basis, which assumes adequate resources will be available for a period of at least 12 months following the approval of these financial statements. In performing their assessment, the directors have considered the future financial plans of the Company and its ability to access necessary funding. The shareholders of the Company have signed the Shareholders' Agreement which commits them to provide the funding requirements of the Company, subject to the approval of the Company's Board of Directors. The directors have made enquiries to understand that the shareholders have adequate resources to be able to provide this financial support. Based on the enquiries and considerations they concluded that the Company has ready access to adequate funding to meet all its obligations for a period of at least 12 months from the date of approval of these financial statements and have therefore adopted the going concern basis in these financial statements.”

Significant events

• “The Company was successful in the ScotWind leasing round which concluded in early 2022 and the Company signed an Option to Lease Agreement on 1 April 2022 to develop the NE8 site. The focus of the Company is currently on carrying out development works such as site surveys and working on engineering analysis to develop the project technically.”

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

Filings

12

last 12 months

Capital events

5

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.