REGISTERED NUMBER: 14233925 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31st December 2024

for

QC Ubertino Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

5

DIRECTOR:

Declan O'Halloran

REGISTERED OFFICE:

168 Church Road

Hove

United Kingdom

East Sussex

BN3 2DL

REGISTERED NUMBER:

14233925 (England and Wales)

ACCOUNTANT:

Quintas Energy Uk Ltd

The director presents his report with the financial statements of the company for the year ended 31st December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company is the generation of electricity using solar technology, although the plant is on development phase and no activity was carried out during the period.

BUSINESS REVIEW

During the period under review, the Company’s profit and loss account includes bank fees, VAT interest income, audit fees and interest expenses. All other expenses have been capitalised in accordance with normal FRS 102 practice, as they are directly attributable to the development of the Company’s SPVs.

In line with FRS 102, costs that are directly related to bringing an asset to the condition necessary for it to be capable of operating in the manner intended by management are capitalised, while only those costs not meeting the capitalisation criteria are recognised immediately in the profit and loss account.

Other operating income relates solely to interest receivable on VAT balances.

DIRECTOR

The director shown below held office during the year ending 31 December 2024:

Declan O'Halloran (appointed 14 July 2022)

POLITICAL DONATIONS AND EXPENDITURE

The company made no political donations in the current year.

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:

Declan O'Halloran - Director

29th September 2025

TURNOVER

-

-

Administrative expenses

(13,656

)

-

(13,656

)

-

Other operating income

1

-

OPERATING LOSS and

LOSS BEFORE TAXATION

(13,655

)

-

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(13,655

)

-

FIXED ASSETS

Tangible assets

4

792,960

6,345

CURRENT ASSETS

Debtors: amounts falling due within one year

5

4,010

1,270

Cash at bank

28,714

-

32,724

1,270

CREDITORS

Amounts falling due within one year

6

(839,338

)

(7,614

)

NET CURRENT LIABILITIES

(806,614

)

(6,344

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,654

)

1

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(13,655

)

-

SHAREHOLDER FUNDS

(13,654

)

1

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

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

The director acknowledges his 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 director and authorised for issue on 29th September 2025 and were signed by:

Declan O'Halloran - Director

1.	STATUTORY INFORMATION

QC Ubertino Limited (14233925) is a private company, limited by shares, incorporated and domiciled in England. The address of the company's registered office is 168 Church Road, Hove, East Sussex, United Kingdom, BN3 2DL.

The principal activity of the company during the period under review was the generation of electricity using solar technology, although the plant is on development phase and no activity was carried out during the period.

2.	ACCOUNTING POLICIES

Basis of preparing

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.

Financial instruments

Financial instruments recognised on the Statement of Financial Position include current assets, cash at bank, accounts payable and creditors.

Financial liabilities

Accounts payable due within one year are initially recognised at fair value and include intercompany transactions with other group companies, since the plant is not yet operational and therefore does not generate income. As a result, the Company is financed by these group companies, as well as through the interest payable on loans provided by them.

Capital and reserves

Capital comprises the following:

- "Called up share capital" which represents the nominal value of ordinary equity shares issued and called.

Where financial instruments issued by the company do not have any features meeting the definition of a financial liability then such capital is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period comprises current and deferred tax. Current tax is recognised at the amount of income taxes payable in respect of the taxable profit for the period, using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their recognition in tax returns.

Deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or the reversal of deferred tax liabilities. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date and expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.

No current tax charge or deferred tax assets/liabilities have been recognised in the period (2023: nil), as the Company has not generated taxable profits and it is not considered probable at this stage that future taxable profits will be available against which to utilise tax losses carried forward.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and machinery etc

£

COST:

At 31st December 2023

6,345

Additions

786,615

At 31st December 2024

792,960

NET BOOK VALUE

At 31st December 2024

792,960

At 31st December 2023

6,345

The Company's property, plant and equipment under construction includes the development costs of the project to develop a photovoltaic power plant.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

AMOUNTS FALLING DUE WITHIN ONE YEAR:

VAT

4,009

1,269

Receivable on called-up ordinary shares or equity holdings

1

1

4,010

1,270

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Intercompany payable

839,338

7,614

839,338

7,614

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1

Ordinary

£1.00

1

1

8.	ULTIMATE PARENT COMPANY

During the year ended 2024, Qc Ubertino Limited was acquired by Quintas Power Limited with its registered address at Heron House, Blackpool Park, Cork, T23 R50R, Ireland; with registered number 738312.

Subsequently; in May 2025, the Company was acquired by Quintas Power UK Holdco Limited, with its registered office at 168 Church Road, Hove, East Sussex, BN3 2DL, United Kingdom.