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Company registration number: 10222179







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025


CHAR.GY LIMITED






































img751b.png                        

 


CHAR.GY LIMITED
 


 
COMPANY INFORMATION


Directors
C McDowell 
G Ridd 
G Watson 
O Brighton 
G Lipczynski 
J Lewis 




Registered number
10222179



Registered office
55 King William Street

London

EC4R 9AD




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


CHAR.GY LIMITED
 



CONTENTS



Page
Strategic Report
1 - 4
Directors' Report
5 - 6
Independent Auditor's Report
7 - 10
Income Statement
11
Statement of Financial Position
12
Statement of Changes in Equity
13
Statement of Cash Flows
14
Analysis of Net Debt
15
Notes to the Financial Statements
16 - 30


 


CHAR.GY LIMITED
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their strategic report together with the audited financial statements for the year ended 31 March 2025.

Introduction
 
This marks the first time that Char.gy has published a Strategic Report alongside its financial statements. Our Board and Management team are pleased to provide a clear view of the company’s strategic direction, commercial progress, and operational performance — and we are committed to continuing this level of transparency in future disclosures. 

Principal activities
 
The principal activity of the Company is to develop, manufacture, operate and maintain on-street electric vehicle (EV) charge points with revenues being generated through the sale of electricity to drivers.
The year ending 31 March 2025 demonstrated strong revenue growth and featured an increase in our commissioned charge points from 3,057 at the start of the year to 3,879, an increase of over 26%.
Revenue of £4.1m (2024 - £3.1m) representing growth of over 25%, and an EBITDA loss of £10.3m (2024 – loss £8.9m) is in line with management’s expectations, based on the current market environment and the delays to the tendering process for Local Electric Vehicle Infrastructure (LEVI) funding at local council level getting underway. As of 31 March 2025, the Company has net assets of £22.7m which includes £13.1m of cash held in bank deposits.
The Company is dedicated to pioneering EV charge point design and software development, with focus on optimising the product lifecycle (cost and environmental impact), professional installation and customer servicing model. We specialise in hyper-local public charging, replicating the experience of home charging for the estimated 40% of UK households without off-street parking. Our charge points, a mix of lamp post-mounted and bollard units, are core products of Char.gy, recognised for delivering accessibility, cost advantage and dependability. Notably, our ‘night saver’ tariff has delivered exceptional value to customers, making EV ownership more appealing. Where necessary, we also install metered direct grid connection charge points to match the specific needs of council and private customers. 

Business review and future developments
 
2024 was the first full year under the direction of our new Chief Executive Officer, John Lewis, who worked with the team to further develop a clear strategy and mission: to deliver society's preferred Electric Vehicle charging network accelerating the transition to sustainable transport.
We established a new strategic framework to describe and organise our business activities under five strategic priorities focused on customer service, product design, colleague development, revenue diversification and robust controls and performance management. Simultaneously, the Board and Executive team refined our company values and considered our sustainability agenda, which underpins our commitment to our colleagues, the communities we operate in and the benefits we aim to deliver for the environment (“People & Planet”). The resulting integrated framework directs our effort, prioritisation of resources and targets.

Char.gy is well positioned to benefit from climate transition activities supported by the government, including Local Electric Vehicle Infrastructure Funding (LEVI) and the proposed phasing out of new petrol and diesel car sales (driven by the ZEV Mandate). Our strong product offering, competitive pricing and demonstrated commitment to delivering Social Value enhance our ability to secure future commercial growth, both in response to LEVI and other public and private funding opportunities. While the immediate focus remains on the UK market, there is significant potential to extend our approach internationally. Char.gy’s growing asset management expertise and capabilities present a future opportunity for growth and optimisation of the business’s resources.

Recognising the interconnectivity of commercial, climate, environmental and social challenges, we sought the endorsement of B Corp accreditation. We met the rigorous standards of social and environmental performance, accountability and transparency that is demanded by the assessment process and were successful in receiving accreditation in December. This certification underscores Char.gy’s commitment to objectives that extend beyond shareholder profit, solidifying our role as a purpose-driven organisation.
Page 1

 


CHAR.GY LIMITED
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Business review and future developments (continued)

To provide further structure to and validate our enhanced processes and controls, the company sought and achieved a number of ISO certifications during the year: ISO 9001 – Quality, ISO 14001 – Environment, ISO 27001 – Information Security, and ISO 45001 – Health & Safety. 

During the year, we prepared for the expected future growth of our Company. Central to this was the restructuring of our sales team, headed by a newly appointed Chief Revenue Officer. New departments were also created in respect of Legal, Data and Hardware, while other departments also enhanced their staffing levels. This resulted in the headcount increasing from 72 at the end of the last financial year to 92 at the end of the current financial year.  

We remain committed to our mission and vision and are excited to be participating in the increasingly active market for LEVI-funded council opportunities. After a slightly delayed start, councils and local authorities are seeking responses to any contract tenders. We are confident that we will be successful in a large number of these opportunities and have the financial, technical and operational backing to deliver for UK communities.

We continue to refine the design of our charge points, to improve their utility, cost efficiency and environmental credentials. This development work will continue at pace during 2025.

Principal risks and uncertainties

The Company has adopted an approach to managing risk within the business and risks are only accepted to build the business where these risks:
 
1.Fit our business strategy and can be understood, mitigated and managed;
2.Do not expose the business to any single material loss event from an acquisition, business or product; and
3.Do not harm the Company’s brand.

Set out in summary below are the principal risks and uncertainties faced by the Company based on the market sector in which the Company operates. The Board is responsible for assessing the principal risks and these are monitored on a regular basis.
The key financial and non-financial risks identified by the Board and the measures taken to mitigate their impact are:
 
Political

Government policy plays a significant role in shaping the EV charging infrastructure market. A key example is the Zero Emission Vehicle (ZEV) Mandate, which requires an increasing proportion of new car sales to be zero-emission, driving EV uptake and influencing local authority priorities. While specific funding programmes such as the Local Electric Vehicle Infrastructure (LEVI) fund with £343 million confirmed for FY23/24 and FY24/25 support infrastructure rollout, the broader political risk lies in potential changes to policy direction or delays in mandates and incentives which could affect EV ownership levels and therefore chargepoint utilisation. However, given current commitments and momentum, management currently assesses this risk as low.
As a relatively new and rapidly evolving market, government regulation in the EV charging sector is still developing. This includes emerging standards around accessibility, pricing transparency, compatibility between different vehicles and chargers, and reliability; all of which will influence the pace and shape of infrastructure deployment. Char.gy is compliant will all chargepoint regulations. 

Page 2

 


CHAR.GY LIMITED
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Principal risks and uncertainties (continued)

Economic:

Char.gy’s revenues are currently derived entirely from the sale of electricity to EV drivers. As such, factors influencing EV adoption including government policy and the falling cost of EVs directly affect the Company’s addressable market. Management expects EV penetration to continue rising, which supports long-term revenue growth.
To maximise utilisation and revenue, the Company employs data-driven tools to strategically deploy charge points in high- demand locations. At the same time, management has developed sophisticated energy procurement models to secure favourable electricity prices, ensuring EV charging remains cost-competitive compared to petrol and diesel.
In addition to its core revenue stream, the Company is actively developing ancillary revenue opportunities and exploring expansion into enterprise markets and new geographies, further diversifying its growth potential.
 
Technology:

Failure to innovate or adopt the right technologies could limit Char.gy’s ability to scale efficiently and achieve its strategic objectives. To mitigate this, the company has made significant investments in its Hardware, Platform and Solutions Management capabilities, with a focus on developing scalable, interoperable, and future-proof solutions. This includes Char.gy’s industry-leading lamppost charge point; an affordable, reliable, and easily deployable solution that supports efficient rollout and consistent operational performance in a fast-moving market.
 
IT:

The interruption or failure of IT systems and services whether managed internally or through third parties could compromise data security, impact customer service and result in financial or reputational loss. To mitigate this risk, the Company has strengthened its IT function and migrated all services to a secure, cloud-based environment. This ensures applications remain up to date, benefit from robust virus protection and maintain GDPR compliance.
In addition, the Company continues to invest in its cybersecurity capabilities. This includes employee training, regular monitoring and alignment with recognised information security standards such as ISO 27001 to ensure a structured and resilient approach to data protection and risk management.
 
Cyber:

There is an increase in social engineering (manipulation of individuals) targeted at making unauthorised payments. There is also the potential that breaches can occur and result in disruptions of critical IT services.
Our cyber security risks are being managed and mitigated by a new Head of IT and the ongoing implementation of ISO 27001. Each brings structure and expertise to our approach.

Financial:

The Board has responsibility for monitoring financial risks and its policies are implemented by the Chief Financial Officer.

Price Risk:

The company is exposed to fluctuations in energy prices charged by its energy suppliers which has the potential to negatively impact gross margin. The company has enhanced its modelling expertise to better predict volumes and utilisation and this is used to ensure best prices are negotiated. Where possible Char.gy enters into fixed-price energy supply contracts to provide cost certainty and shield margins from market volatility.
 
Liquidity:

This is the risk that the Company will encounter difficulty in meeting its financial obligations when they fall due. The Company maintains sufficient headroom in its cash position to ensure that it can meet its obligations and manage unexpected events. Monthly cashflow forecasts, monitoring actual performance against expectations, are issued to the Board.
Page 3

 


CHAR.GY LIMITED
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Key performance indicators

Char.gy uses a range of financial and non-financial KPIs to monitor performance against its strategic objectives and to support effective decision-making by management and the Board. These KPIs are selected to reflect key drivers of value and risk within the business and are reviewed periodically to ensure continued relevance. 

Availability: 

Network availability was 99.1% in the period. This was above the budgeted figure of 99.0%.

Going concern
 
The Directors have assessed future cash flows of the company at the date of approving the financial statements. The Company relies on financial support from investors and related parties to execute strategic growth and to meet its day-to day working capital requirements.
During the year, the Company received a capital injection of £20,000,245 from ZCIIF Hold Co 3 Limited. This cash injected along with further financial support available will enable the Company to continue to trade in operational existence for the foreseeable future. The investors and related parties have also confirmed their ability and willingness to support the Company for the next 12 months from the date of signing these financial statements.
The Directors have assessed future cash flows of the Company and received confirmation from investors and related parties of their ability and willingness to support the Company for the next 12 months from the date of signing these financial statements. The Directors therefore have a reasonable expectation that the Company has adequate resources to continue operations and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. As a result, the Directors do not consider there to be any material uncertainty in relating to the Company's ability to continue as a going concern. Accordingly, the Company continues to adopt the going concern basis in preparing the financial statements.


This report was approved by the board and signed on its behalf.



O Brighton
Director

Date: 26 June 2025

Page 4

 


CHAR.GY LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £10,767,989 (2024 - loss £9,258,094).

The directors have not recommended the payment of a dividend in respect of the year ended 31 March 2025 (2024 - £nil).

Directors

The directors who served during the year were:

C McDowell 
G Ridd 
G Watson 
O Brighton 
G Lipczynski 
J Lewis 


Matters covered in the Strategic Report

The Company has chosen in accordance with the Section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out within the Company's Strategic Report Information required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. This includes information that would have been included in the business review and principal risks and uncertainties sections. 

Page 5

 


CHAR.GY LIMITED
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Under section 487(2) of the Companies Act 2006Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





................................................
O Brighton
Director

Date: 26 June 2025

Page 6

 


CHAR.GY LIMITED
 

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHAR.GY LIMITED

Opinion


We have audited the financial statements of Char.gy Limited (the 'Company') for the year ended 31 March 2025, which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 7

 


CHAR.GY LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHAR.GY LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 8

 


CHAR.GY LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHAR.GY LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were most significant including UK Companies Act,
employment law and tax legislation. We assessed the extent of compliance with these laws and regulations as part of
our procedures on the related financial statement items.

We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to
management and those responsible for legal and compliance procedures.

The engagement lead assessed whether the engagement team collectively had the appropriate competence and
capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any
issues in this area.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud
might occur. Audit procedures performed by the engagement team included:

°Understanding how those charged with governance considered and addressed the potential for override of controls
or other inappropriate influence over the financial reporting process; and

°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the following areas:

°Posting of unusual journals and complex transactions; and
 
°Risk of incorrect recognition of revenue; and

°Risk of fictitious employees


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Page 9

 


CHAR.GY LIMITED


img53e8.png
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHAR.GY LIMITED (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Hezelina Hashim FCCA (Senior Statutory Auditor)
  
for and on behalf of
Menzies LLP
 
Chartered Accountants
Statutory Auditor
  
Magna House
18-32 London Road
Staines-Upon-Thames
TW18 4BP

26 June 2025
Page 10

 


CHAR.GY LIMITED
 


 
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

  

Turnover
 4 
4,125,912
3,133,489

Cost of sales
  
(3,616,649)
(2,781,113)

Gross profit
  
509,263
352,376

Distribution costs
  
(334,991)
(319,013)

Administrative expenses
  
(11,415,749)
(8,998,157)

Exceptional administrative expenses
 11 
-
(475,535)

Other operating income
 5 
215,568
-

Operating loss
 6 
(11,025,909)
(9,440,329)

Interest receivable and similar income
  
284,840
650

Loss before tax
  
(10,741,069)
(9,439,679)

Tax on loss
 10 
(26,920)
181,585

Loss for the financial year
  
(10,767,989)
(9,258,094)

The notes on pages 16 to 30 form part of these financial statements.

Page 11

 


CHAR.GY LIMITED
REGISTERED NUMBER:10222179



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 12 
2,520,193
1,298,467

Tangible assets
 13 
2,263,019
2,283,535

Investments
 14 
1
1

  
4,783,213
3,582,003

Current assets
  

Stocks
 15 
6,495,913
5,487,022

Debtors: amounts falling due within one year
 16 
1,715,626
2,094,273

Cash at bank and in hand
  
13,114,427
4,270,298

  
21,325,966
11,851,593

Creditors: amounts falling due within one year
 17 
(3,396,091)
(1,953,074)

Net current assets
  
 
 
17,929,875
 
 
9,898,519

Total assets less current liabilities
  
22,713,088
13,480,522

  

Net assets
  
22,713,088
13,480,522


Capital and reserves
  

Called up share capital 
 18 
1,977
1,143

Share premium account
 19 
54,436,470
34,436,749

Profit and loss account
 19 
(31,725,359)
(20,957,370)

  
22,713,088
13,480,522


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


O Brighton
Director

Date: 26 June 2025

The notes on pages 16 to 30 form part of these financial statements.

Page 12

 


CHAR.GY LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 April 2023
805
24,437,080
(11,699,276)
12,738,609


Comprehensive income for the year

Loss for the year
-
-
(9,258,094)
(9,258,094)

Shares issued during the year
338
9,999,669
-
10,000,007



At 1 April 2024
1,143
34,436,749
(20,957,370)
13,480,522


Comprehensive income for the year

Loss for the year
-
-
(10,767,989)
(10,767,989)

Shares issued during the year
834
19,999,721
-
20,000,555


At 31 March 2025
1,977
54,436,470
(31,725,359)
22,713,088


The notes on pages 16 to 30 form part of these financial statements.

Page 13

 


CHAR.GY LIMITED
 



STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Loss for the financial year
(10,767,989)
(9,258,094)

Adjustments for:

Amortisation of intangible assets
234,746
130,044

Depreciation of tangible assets
487,962
408,293

Impairments of intangible assets
37,296
475,535

Loss on disposal of tangible assets
18,681
11,996

Loss on disposal of intangible assets
6,480
-

Interest received
(284,840)
(650)

Taxation charge/ (credit)
26,920
(181,585)

(Increase) in stocks
(1,008,891)
(2,061,763)

Decrease/(increase) in debtors
375,369
(437,473)

Increase in creditors
1,443,017
196,608

R&D expenditure credit
(165,084)
-

Corporation tax received
141,442
50,508

Net cash generated from operating activities

(9,454,891)
(10,666,581)


Cash flows from investing activities

Purchase of intangible fixed assets
(1,462,952)
(646,762)

Purchase of tangible fixed assets
(523,423)
(373,856)

Interest received
284,840
650

Net cash from investing activities

(1,701,535)
(1,019,968)

Cash flows from financing activities

Investment received
20,000,555
10,000,007

Net cash used in financing activities
20,000,555
10,000,007

Net increase/(decrease) in cash and cash equivalents
8,844,129
(1,686,542)

Cash and cash equivalents at beginning of year
4,270,298
5,956,840

Cash and cash equivalents at the end of year
13,114,427
4,270,298


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
13,114,427
4,270,298

13,114,427
4,270,298


The notes on pages 16 to 30 form part of these financial statements.

Page 14

 


CHAR.GY LIMITED
 



ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025




At 1 April 2024
Cash flows
At 31 March 2025
£

£

£

Cash at bank and in hand

4,270,298

8,844,129

13,114,427


4,270,298
8,844,129
13,114,427

The notes on pages 16 to 30 form part of these financial statements.

Page 15

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Char.gy Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries could be excluded from consolidation by section 405 of the Companies Act 2006.

 
2.3

Going concern

The company made a loss after tax of £10,767,989 (2024: £9,258,094) during the year ended 31 March 2025 and at that date had net assets of £22,713,088 (2024: £13,480,522). 
The Directors have assessed future cash flows of the company at the date of approving the financial statements. The Company relies on financial support from investors and related parties to execute strategic growth and to meet its day-to-day working capital requirements.
During the year, the Company received a capital injection of £20,000,245 from ZCIIF Hold Co 3 Limited in exchange for 52,753 A share. This cash injected along with further financial support available will enable the Company to continue to trade in operational existence for the foreseeable future. The investors and related parties have also confirmed their ability and willingness to support the Company for the next 12 months from the date of signing these financial statements.
The Directors, therefore, have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. As a result, the Directors do not consider there to be any material uncertainty in relation to the Company's ability to continue as a going concern. Accordingly, the Company continues to adopt the going concern basis in preparing the financial statements. 

Page 16

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.5

Revenue

Revenue shown in the Income Statement represents amounts receivable for products and services sold during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.
 
Revenue is generated from the supply and installation of electric car charging points and charging customers for the use of electric car charge points on a Pay As You Go basis (PAYG).
 
Revenue from the supply and installation of electric car charging points is recognised at the point the charging point has been installed. PAYG revenue is recognised over the period in which the service provided relates.

 
2.6

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

  
2.8

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature arerecognised in the Income Statement in the same period as the related expenditure.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 17

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.13

Intangible assets

The concession contract has been initially recognised at fair value based on the overall services under the terms of the contractual arrangement as the operator of the charging points. All other intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Patents
-
20%
using the straight-line method
Development platform
-
10%
using the straight-line method
Demand mapping tool
-
20%
using the straight-line method
No-drill development
-
20%
using the straight-line method
Controller development costs
-
to be amortised upon completion
Concession contract
-
over the term of the contract

Page 18

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the term of the lease
Plant and machinery
-
33%
using the straight-line method
Motor vehicles
-
33%
using the straight-line method
Fixtures and fittings
-
20%
using the straight-line method
Charging points
-
10%
using the straight-line method
Assets under construction
-
To be depreciated upon installation

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.15

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.17

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 19

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements require management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
The directors consider the following to be critical judgments, estimates and assumptions used in the preparation of these financial statements:
 
Useful life of the Development platform
Management have estimated that the Development platform has a useful life of 10 years on the basis that the future profits occurring as result of the platform will match amortisation over that period. This will be amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and then physical condition of the asset.
 
Useful life of the Charging points
Management have estimated that the charging points have a useful life of 10 years based on the terms of the long term contracts held which will match amortisation over that period. This will be amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and then physical condition of the asset. 

Impairment of tangible and intangible assets
Management have carried out a review to identify whether there are any indicators of impairment of the company's tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Turnover

An analysis of turnover by class of business is as follows:


2025
2024
£
£

Supply and installation
25,215
529,124

Charging revenue
4,086,297
2,586,663

Service revenue
14,400
17,702

4,125,912
3,133,489


All turnover arose within the United Kingdom.

Page 20

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Other operating income

2025
2024
£
£

R&D expenditure credit
165,084
-

Service concession income
50,484
-

215,568
-



6.


Operating loss

The operating loss is stated after charging:

2025
2024
£
£

Depreciation of tangible fixed assets
487,962
408,293

Amortisation of intangible fixed assets
234,746
130,044

Impairment of intangible assets
-
475,535

Impairment of tangible assets
37,296
-

Research and development
192,999
229,756

Operating lease rentals
301,367
246,657

Foreign exchange loss
19,734
18,668

Loss on disposal of tangible fixed assets
18,681
11,996

Loss on disposal of intangible fixed assets
6,480
-


7.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2025
2024
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
32,000
27,000

Fees payable to the Company's auditors and their associates in respect of:
Taxation compliance services
3,300
3,200

   Others services relating to taxation
10,600
4,500

   All other services
15,667
8,895

Page 21

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Employees

Staff costs, including directors' remuneration, were as follows:


2025
2024
£
£

Staff wages and salaries
5,484,511
4,225,377

Directors salaries
474,982
470,974

Social security costs
706,369
562,617

Cost of defined contribution scheme
141,514
100,935

6,807,376
5,359,903


The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Employees
81
59


9.


Directors' remuneration


2025
2024
£
£

Directors' emoluments
474,982
470,974

Company contributions to defined contribution pension schemes
11,664
10,586

486,646
481,560


The above directors' remuneration of £474,982 (£390,458) does not include benefits the directors received during the year which amounted to £2,488 (2024: £756).
During the year retirement benefits were accruing to no directors
 (2024 - NIL) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £256,545 (2024 - £256,256).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,584 (2024 - £5,250).

Page 22

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Taxation


2025
2024
£
£

Corporation tax


Current tax charge/ (credit)
31,366
(116,605)

Adjustments in respect of previous periods
(4,446)
(64,980)


26,920
(181,585)


Total current tax
26,920
(181,585)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:

2025
2024
£
£


Loss on ordinary activities before tax
(10,741,069)
(9,439,679)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
(2,685,267)
(2,359,920)

Effects of:


Fixed asset difference
7,336
2,356

Expenses not deductible for tax purposes
21,422
15,991

Adjustments to tax credit in respect of prior periods
(4,446)
(64,980)

Non-taxable income
(12,621)
-

Additional deduction for R&D expenditure
-
(134,785)

Surrender of tax losses for R&D tax credit refund
-
174,907

Movement in deferred tax not recognised
2,700,496
2,184,846

Total tax charge/ (credit) for the year
26,920
(181,585)




Deferred tax

The company has gross losses carried forward of £33,441,024 (2024 - £22,013,548) which if fully recognised would give a rise to a deferred tax asset of £8,360,256 (2024 - £5,503,387). These assets have not been recognised in the financial statements as there is currently insufficient certainty about the availability of future taxable profits to offset these amounts.
In addition to this there are net short term and fixed asset timing differences totalling £3,243,677 (2024 - £2,468,825) which if fully recognised would give a rise to a deferred tax liability of £810,919 (2024 - £617,206). These liabilities have not been recognised as there is a legally enforceable right to offset against any deferred tax asset and the entity intends to settle on a net basis.

Page 23

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Exceptional items

2025
2024
£
£


Exceptional items
-
475,535

-
475,535

The expenses included within exceptional items in the prior year relate to the impairment of the intangible assets being the site selection tool, MKIII & MKIV development costs. 

Page 24

CHAR.GY LIMITED
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025



12.


Intangible assets





Patents
Development platform
Demand mapping tool
No-drill development
Controller development costs
Concession contract
Total

£
£
£
£
£
£
£



Cost


At 1 April 2024
15,000
1,265,518
145,950
501,148
-
-
1,927,616


Additions
7,000
-
138,160
403,984
239,918
683,280
1,472,342


Transfers to tangible fixed assets
-
-
-
(9,390)
-
-
(9,390)


Disposals
-
-
-
-
-
(7,200)
(7,200)



At 31 March 2025

22,000
1,265,518
284,110
895,742
239,918
676,080
3,383,368



Amortisation


At 1 April 2024
8,900
620,249
-
-
-
-
629,149


Charge for the year on owned assets
5,933
127,044
13,456
44,309
-
44,004
234,746


On disposals
-
-
-
-
-
(720)
(720)



At 31 March 2025

14,833
747,293
13,456
44,309
-
43,284
863,175



Net book value



At 31 March 2025
7,167
518,225
270,654
851,433
239,918
632,796
2,520,193



At 31 March 2024
6,100
645,269
145,950
501,148
-
-
1,298,467



Page 25


CHAR.GY LIMITED
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025



13.


Tangible fixed assets






Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Charging points
Assets under construction
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 April 2024
48,464
708,815
78,669
78,336
2,077,022
3,260
2,994,566


Additions
-
200,388
-
2,891
290,372
20,382
514,033


Transfers from Intangible fixed assets
-
-
-
-
9,390
-
9,390


Disposals
-
(37,313)
-
(1,931)
(8,034)
-
(47,278)


Transfers between classes
-
-
-
-
3,322
(3,322)
-



At 31 March 2025

48,464
871,890
78,669
79,296
2,372,072
20,320
3,470,711



Depreciation


At 1 April 2024
9,423
402,354
46,947
19,120
233,187
-
711,031


Charge for the year on owned assets
16,155
218,873
23,791
16,145
212,998
-
487,962


Disposals
-
(26,602)
-
(579)
(1,416)
-
(28,597)


Impairment charge
-
37,296
-
-
-
-
37,296



At 31 March 2025

25,578
631,921
70,738
34,686
444,769
-
1,207,692



Net book value



At 31 March 2025
22,886
239,969
7,931
44,610
1,927,303
20,320
2,263,019



At 31 March 2024
39,041
306,461
31,722
59,216
1,843,835
3,260
2,283,535

Page 26
 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

14.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2024
1



At 31 March 2025
1





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Char.gy Assets Limited
55 King William Street, London, England, EC4R 9AD
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Profit/(Loss)

Char.gy Assets Limited
-


15.


Stocks

2025
2024
£
£

Raw materials and consumables
1,696,665
1,929,415

Stock in transit
54,388
468

Finished goods
4,744,860
3,557,139

6,495,913
5,487,022


The carrying value of stocks are stated net of impairment losses totalling £408,925 (2024 - £52,656).

Page 27

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

16.


Debtors

2025
2024
£
£


Trade debtors
462
68,050

Other debtors
756,333
1,219,510

VAT recoverable
282,134
199,638

Prepayments and accrued income
421,929
349,029

Tax recoverable
254,768
258,046

1,715,626
2,094,273



17.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
600,652
361,822

Other taxation and social security
202,068
160,016

Other creditors
155,367
131,443

Accruals and deferred income
2,438,004
1,299,793

3,396,091
1,953,074



18.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



142,125 (2024 - 89,372) Ordinary A shares of £0.01 each
1,421
894
17,520 (2024 - 17,520) Ordinary B shares of £0.01 each
175
175
9,425 (2024 - 7,438) Ordinary D shares of £0.01 each
94
74
28,651 (2024 - nil) Ordinary E shares of £0.01 each
287
-

1,977

1,143

Each Ordinary A share has full rights in the company with respect to voting, dividends and distributions. 
Each Ordinary B share has full rights in the company with respect to voting, dividends but not equal rights with respect to distributions. 
Each Ordinary D share has full rights in the company with respect to dividends but not equal rights with respect to voting rights and distributions.
Each Ordinary E share has no rights in the company with respect to voting and dividends.


Page 28

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

18.Share capital (continued)

During the year, the Company received a capital injection of £20,000,245 from ZCIIF Hold Co 3 Limited in exchange for 52,753 A shares for strategic growth purposes and for working capital requirements. Zciif Hold Co 3 Limited is the controlling party by virtue of its majority shareholding.


19.


Reserves

Share premium account

The share premium account represents premiums paid in excess of the company’s ordinary shares nominal value.

Profit and loss account

The profit and loss account represents retained earnings and accumulated losses attributable to the shareholders of the company.


20.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
366,339
428,435

Later than 1 year and not later than 5 years
184,261
469,852

550,600
898,287


21.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 not to disclose transactions entered into between members of the Group where subsidiaries party to the transaction are wholly owned members of the Group. 
At 1 April 2024, the company owed C McDowell £953. During the year further advances in form of reimbursable expenses were made of £14,539 and repayments made of £14,615. At 31 March 2025, an amount of £1,029 was owed from the company to C McDowell which is shown within other creditors. No interest was charged on these amounts.
At 1 April 2024, the company owed G Watson £558. During the year further advances in form of reimbursable expenses were made of £2,416 and repayments made of £2,094. At 31 March 2025, an amount of £236 was owed from the company to G Watson which is shown within other creditors. No interest was charged on these amounts.
At 1 April 2024, £nil was owed to/from J Lewis. During the year further advances in form of reimbursable expenses were made of £311 and repayments made of £436. At 31 March 2025, an amount of £125 was owed from the company to J Lewis which is shown within other creditors. No interest was charged on these amounts.
At 1 April 2024, £nil was owed to/from O Brighton. During the year further advances in form of reimbursable expenses were made of £1,142 and repayments made of £1,705. At 31 March 2025, an amount of £563 was owed from the company to O Brighton which is shown within other creditors. No interest was charged on these amounts.

Page 29

 


CHAR.GY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

22.


Post balance sheet events

On 17 April 2025, the Company entered a new office lease for a 10-year term but with a 5-year break clause. The total commitment for the 5-year period is £3,063,750. 


23.


Controlling party

 ZCIIF Hold Co 3 Limited is the controlling party by virtue of its majority shareholding.

 
Page 30