REGISTERED NUMBER: 13222808 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FORESIGHT BATTERY STORAGE HOLDING

LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Directors:

R W Driver

E W Mountney

Registered office:

C/o Foresight Group Llp The Shard

32 London Bridge Street

London

SE1 9SG

Registered number:

13222808 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Directors

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

R W Driver

E W Mountney

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

E W Mountney - Director

26 September 2025

Turnover

-

-

Administrative expenses

(7,540

)

(17,694

)

Operating loss

(7,540

)

(17,694

)

Interest receivable and similar income

1,682,869

696,895

1,675,329

679,201

Interest payable and similar expenses

(2,800,486

)

(1,806,561

)

Loss before taxation

(1,125,157

)

(1,127,360

)

Tax on loss

705,648

-

Loss for the financial year

(419,509

)

(1,127,360

)

Fixed assets

Investments

4

37,235,371

31,834,238

Current assets

Debtors

5

3,457,118

1,068,601

Cash at bank

2,251,636

-

5,708,754

1,068,601

Creditors

Amounts falling due within one year

6

(5,576,695

)

(2,767,055

)

Net current assets/(liabilities)

132,059

(1,698,454

)

Total assets less current liabilities

37,367,430

30,135,784

Creditors

Amounts falling due after more than one year

7

(37,971,855

)

(31,850,931

)

Net liabilities

(604,425

)

(1,715,147

)

Capital and reserves

Called up share capital

6

2

Share premium

1,530,227

-

Retained earnings

(2,134,658

)

(1,715,149

)

(604,425

)

(1,715,147

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

E W Mountney - Director

1.	Statutory information

Foresight Battery Storage Holding 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Going concern

The financial statements have been prepared on the basis the Company is a going concern. The directors consider this appropriate given that the funding of the subsidiaries battery energy storage systems ("BESS") is made directly from the Company's two immediate parent companies.

The net current liability position is due to the loans to the parent companies being greater than the loans to the subsidiary companies and the associated interest amounts being repayable on demand.

The parent companies have confirmed that the interest payable to them will not be reclaimed unless the Company has sufficient financial resources to settle these liabilities.

Interest income

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

Finance costs

Finance costs are charged to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amoritsed cost using the effective interest method.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4.	Fixed asset investments

31.12.24

31.12.23

£

£

Shares in group undertakings

14,822,724

13,865,293

Loans to group undertakings

22,412,647

17,968,945

37,235,371

31,834,238

Additional information is as follows:

Shares in

group

undertakings

£

Cost

At 1 January 2024

13,865,293

Additions

957,431

At 31 December 2024

14,822,724

Net book value

At 31 December 2024

14,822,724

At 31 December 2023

13,865,293

Loans to

group

undertakings

£

At 1 January 2024

17,968,945

New in year

4,443,702

At 31 December 2024

22,412,647

5.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Other debtors

2

2

Interest receivable

2,751,468

1,068,599

Deferred tax asset

705,648

-

3,457,118

1,068,601

6.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Trade creditors

655

-

Amounts owed to group undertakings

1,824

-

Tax

1,713

-

Other creditors

1,001

1,001

Interest payable

5,566,540

2,766,054

Accruals and deferred income

4,962

-

5,576,695

2,767,055

7.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Shareholder loan

37,971,855

31,850,931

8.	Related party disclosures

At 31 December 2024, the company is jointly controlled by Foresight Solar (Uk Holdco) Limited and Foresight Environmental Infrastructure (UK) Limited.

A shareholder loan of £18,962,025 (31.12.23 - £15,931,563) was owed to Foresight Solar (Uk Holdco) Limited. There is interest outstanding on the loan provided of £2,781,215 (31.12.23 - £1,382,872) at the end of the period, this balance is included in the interest payable balance within creditors due within a year. Interest of £1,398,343 (31.12.23 - £901,882) was incurred in the year on the loan provided.

A shareholder loan of £19,009,830 (31.12.23 - £15,919,368) was owed to Foresight Environmental Infrastructure (UK) Limited. There is interest outstanding on the loan provided of £2,785,325 (31.12.23 - £1,383,182) at the end of the period, this balance is included in the interest payable balance within creditors due within a year. Interest of £1,402,144 (31.12.23 - £904,679) was incurred in the year on the loan provided.

At 31 December 2024, the company owned 100% of the share capital of Sandridge Battery Storage Limited, Clayfords Energy Storage Limited and Lunanhead Energy Storage Limited.

A shareholder loan of £18,739,783 (31.12.23 - £14,699,783) was owed by Sandridge Battery Storage Limited. There is interest outstanding on the loan provided of £2,256,680 (31.12.23 - £894,367) at the end of the period, this balance is included in the interest receivable balance within debtors due within a year. Interest of £1,396,337 (31.12.23 - £530,874) was incurred in the year on the loan provided.

A shareholder loan of £1,938,831 (31.12.23 - £1,717,925) was owed by Clayfords Energy Storage Limited. There is interest outstanding on the loan provided of £248,433 (31.12.23 - £94,855) at the end of the period, this balance is included in the interest receivable balance within debtors due within a year. Interest of £152,837 (31.12.23 - £85,493) was incurred in the year on the loan provided.

A shareholder loan of £1,734,033 (31.12.23 - £1,659,033) was owed by Lunanhead Energy Storage Limited. There is interest outstanding on the loan provided of £246,355 (31.12.23 - £112,660) at the end of the period, this balance is included in the interest receivable balance within debtors due within a year. Interest of £133,695 (31.12.23 - £99,869) was incurred in the year on the loan provided.

Additionally the company owed its subsidiary, Sandridge Battery Storage Limited £1,824 (31.12.23 - £nil) in short term working capital requirements at 31 December 2024.

9.	Ultimate controlling party

The company's ultimate parents and controlling entities are Foresight Environmental Infrastructure Limited (formerly known as JLEN Environmental Assets Group Limited), a company incorporated in Guernsey, Channel Islands, with a registered address of 1 Royal Plaza, Royal Avenue, St Peter Port, Guernsey, GY1 2HL and Foresight Solar Fund Limited, a company incorporated in Jersey, with a registered address of 28 Esplanade St Helier Jersey, JE2 3QA.