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

The principal activity of the company continued to be that of electrical installation.

Review of the business

At Hardtech HV, we believe that our customers do their best work when we have done ours, so we continue to focus on ensuring that even the most complex HV systems we install and maintain, simply do what our customers need them to.

In the previous business year, we became part of the System Engineering Group, and in the reported period we have continued to develop our ‘Digital First’ engineering services approach within the commercial and industrial building construction and management sectors we serve.

During the year we have noted a significant increase in demand for our maintenance and repair services. Whilst our growth here has always been driven by a combination of quality and affordability, we attribute the improved pace of growth to customer interest in the CO2 reduction activities we introduced in the previous period.

This demand growth has also led an increase in the pace of development of our digital platform, fulcrum.os (operating system) in the year. Where our Group’s internal development resources have deployed a number of improvements in the functionality and efficacy of the system, for both internal workflows and our digital customer platform.

The scope of our grid connections project work has also expanded in the year, to accommodate for those occasions where our customer has an increase in demand for power which either cannot be met or not met in their required timescale. In these circumstances, Hardtech HV can now guide customers towards appropriate specialists to develop sustainable alternative power solutions (and the associated business cases) to create new options to keep plans on track.

The systems engineering approach remains at the core of our entire group's operations, as delivering our projects and services using the approach; increases efficiency and reliability, strengthens risk management, raises quality assurance and optimises effective communication, all whilst taking a lifecycle perspective to the work we do.

It's that lifecycle perspective that compels us to focus on the Environmental, Social and Governance impact of the work we do, as we position our company to ensure the sustainability of our Planet, People and Profit. The triple bottom line.

For our Planet and the Environment, we continue to strive to reduce our customer’s carbon emissions to more than offset our own Scope 1 or 2 impact, and in that way become a carbon negative company. In many of our newest maintenance and repair contracts for commercial building management customers and industrial customers, their selection of us as their supplier was primarily driven by our ability to save them both cost and carbon. Capturing the quantifiable reductions in equivalent C02 in our digital workflow and sharing the information through our customer portal.

As a company, we are not statutorily required to report our Scope one, two and three emissions, and we are not seeking to fully comply with the Streamlined Energy and Carbon Reporting requirements. However, we are making disclosures with the above objective in mind. In the reported business year our own scope 1,2 and 3 environmental impact was as follows:

Hartech HV Limited Use and Associated Greenhouse Gas Emissions

Quantification and Reporting Methodology:

We report our emissions with reference to the latest Greenhouse Gas Protocol Corporate Accounting and Reporting Standard (GHG Protocol) and the 2024 UK Government GHG Conversion Factors for Company Reporting.

From the next business year, we intend to share the positive and quantifiable impact of the carbon reduction work we carry out for our customers in a strategic report.

For our People and Society, we continue to actively invest in trade and technical skills development across the organisation. In line with our Group’s purpose, we have implemented roles that would enable both career starters (traditional young skilled apprentices) and career changers (adult apprentices) to qualify as skilled trades people with us. For our existing team this investment continues with ongoing trade skills and professional development (e.g. High Voltage design and cable jointing) in addition to training in working with digital tools, as we extend the use of our fulcrum.os platform within each operational workflow.

For our Profit and Governance, the structured Systems Engineering approach inherent to our business has allowed us to build upon the existing NERS, CHAS, Constructionline and Achilles Accreditations within the group, in achieving ISO certification for our Quality, Environmental and Heath & Safety management systems. And extending our NERS accreditation to 33kV to accommodate customer demand. Our ‘digital first’ approach has also been underwritten in this period through achievement of Cyber Essentials accreditation across our Group’s technology stack.

At Hardtech HV, we continue to prioritise those actions which build the trust of our customers, as our organisation acts in line with our Group’s brand pillars; to become the most dependable, most approachable and most sustainable engineering services supplier for our customers.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In accordance with the company's articles, a resolution proposing that JS. Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Hardtech H.V. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mereside, Alderley Park Congleton Road, Macclesfield, SK10 4TG.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration receivable for the creation, maintenance and servicing of high voltage distribution networks provided in the normal course of business, and is shown net of VAT and trade discounts.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

Included within other creditors are net obligations under hire purchase contracts of £11,490 (2024: £35,712) which are secured against the assets to which they relate.

Included within other creditors are net obligations under hire purchase contracts of £12,054 (2024: £Nil) which are secured against the assets to which they relate.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

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 profit 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.

The smallest and largest group for which consolidated financial statements are prepared is headed by System Engineering Group Limited. The registered office of System Engineering Group Limited is Mereside, Alderley Park, Macclesfield, England, SK10 4TG.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

A loan provided to the group is secured by fixed and floating charges over the assets of the group entities. The company and the fellow group entities act as guarantors for the loan.

The balance of the loan at the period end was £1,441,447.

The company is party to an unlimited cross guarantee with its parent undertaking, System Engineering Group Limited. The maximum amount due under this arrangement at 31 March 2025 was £65,986 (2024: £Nil).

Included within other creditors are amounts due to the directors of £Nil (2024: £60,751).

Advances or credits have been granted by the company to its directors as follows:

The directors loan is interest free and repayable on demand.