ACCOUNTS - Final Accounts preparation

Administrative expenses

The administrative expenses is stated after charging:

Registered number: 13869939

FRV TYLER HILL BESS 1 LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FRV TYLER HILL BESS 1 LIMITED

COMPANY INFORMATION

Directors	Preeti Yardi
	Deniz Bayazidov Saidov
	Andrea Fontana Gribodo


Registered number	13869939


Registered office	Building 7 Chiswick Park
	566 Chiswick High Road
	London
	W45YG
	London


Independent auditor	Ernst & Young LLP
	25 Churchill Place
	United Kingdom
	London
	E14 5EY

FRV TYLER HILL BESS 1 LIMITED

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditor's Report	3 - 6
Statement of Comprehensive Income	7
Statement of Financial Position	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10 - 17

FRV TYLER HILL BESS 1 LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for FRV Tyler Hill BESS 1 Limited (the 'Company') for the year ended 31 December 2024.

Directors' responsibilities statement

The Directors are responsible for preparing 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; 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 to 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.

Principal activity

The Company's principal activity during the year continued to be construction of utility projects for the production of electricity and development of battery energy storage systems.

Directors

The Directors who served during the year were:

Preeti Yardi

Deniz Bayazidov Saidov

Andrea Fontana Gribodo

Going concern

During the year, the Company made a loss of £49,139 (2023: £32,523) and had net liabilities of £188,482 (2023: £139,343). The Company is dependent on their parent company for the working capital needs. The Company’s parent entity has confirmed and has provided confirmation that for at least the next 12 months from the date of approval of these financial statements, it will continue to make available such funds that are needed by the Company. Based on these the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

Page 1

FRV TYLER HILL BESS 1 LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

The auditor, Ernst & Young LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

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

Preeti Yardi Director	Andrea Fontana Gribodo Director

Date: 29 September 2025	Date: 29 September 2025

Page 2

FRV TYLER HILL BESS 1 LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRV TYLER HILL BESS 1 LIMITED

Opinion

We have audited the financial statements of FRV Tyler Hill BESS 1 Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes 1 to 16 including a summary of significant accounting policies. The 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 December 2024 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 UK, including the FRC’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 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. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the Company’s ability to continue as a going concern.

Page 3

FRV TYLER HILL BESS 1 LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRV TYLER HILL BESS 1 LIMITED (CONTINUED)

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 report.
Our 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.

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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has 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 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; or

∙the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Page 4

FRV TYLER HILL BESS 1 LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRV TYLER HILL BESS 1 LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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.

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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to United Kingdom Generally Accepted Accounting Practice, relevant direct and indirect tax compliance, and the Companies Act.

∙We understood how the Company is complying with those frameworks by making enquiries of management and by seeking representation from those charged with governance to understand how the Company maintains and communicates its policies and procedures in these areas. We corroborated this by reviewing relevant policy and procedures manuals.

∙We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by making enquiries of management and those charged with governance to understand where they considered there was susceptibility to fraud. We performed journal entry testing by specific risk criteria, with a focus on manual journals and journals indicating large or unusual transactions based on our understanding of the Company’s business.

∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved enquiries of management and those charged with governance, review of legal and professional expense and review of meeting minutes of the board.

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 5

FRV TYLER HILL BESS 1 LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRV TYLER HILL BESS 1 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 2006. Our 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.

Thomas Culhane (Senior statutory auditor)

for and on behalf of Ernst & Young LLP, Statutory Auditor

London

29 September 2025

Page 6

FRV TYLER HILL BESS 1 LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Administrative expenses	4	(28,599)	(20,525)
Operating loss	4	(28,599)	(20,525)
Interest payable and similar expenses		(20,540)	(11,998)
Loss before tax		(49,139)	(32,523)
Tax credit on loss	6	-	-
Loss for the financial year/period		(49,139)	(32,523)

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 10 to 17 form part of these financial statements.

Page 7

FRV TYLER HILL BESS 1 LIMITED

REGISTERED NUMBER: 13869939

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible fixed assets	7		243,151		150,257
			243,151		150,257
Current assets
Debtors: amounts falling due within one year	8	15,583		11,977
Cash and cash equivalents		1,000		13,058
		16,583		25,035
Creditors: amounts falling due within one year	9	(86,878)		(83,837)
Net current liabilities			(70,295)		(58,802)
Total assets less current liabilities			172,856		91,455
Creditors: amounts falling due after more than one year			(361,338)		(230,798)

Net liabilities			(188,482)		(139,343)

Capital and reserves
Share capital	11	2	2
Profit and loss account	12	(188,484)	(139,345)
Total equity		(188,482)	(139,343)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Preeti Yardi	Andrea Fontana Gribodo
Director	Director

Date: 29 September 2025

The notes on pages 10 to 17 form part of these financial statements.

Page 8

FRV TYLER HILL BESS 1 LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	2	(139,345)	(139,343)

Loss for the year	-	(49,139)	(49,139)
At 31 December 2024	2	(188,484)	(188,482)

The notes on pages 10 to 17 form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	2	(106,822)	(106,820)

Loss for the year	-	(32,523)	(32,523)
At 31 December 2023	2	(139,345)	(139,343)

The notes on pages 10 to 17 form part of these financial statements.

Page 9

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

FRV Tyler Hill BESS 1 Limited (the 'Company') is a private company limited by shares incorporated in England and Wales, registration number 13869939. The Company's registered address is Building 7 Chiswick Park, 566 Chiswick High Road, United Kingdom, W4 5YG.

The Company's principal activity during the year continued to be construction of utility projects for the production of electricity and development of battery energy storage systems.

The Company's functional currency is the same as the primary economic environment inwhich it operates. All figures are presented in Pounds Sterling (£), rounded to the nearest Pound.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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

Going concern

During the year, the Company made a loss of £49,139 (2023: £32,523) and had net liabilities of £188,482 (2023: £139,343. The Company is dependent on their parent company for the working capital needs. The Company’s parent entity has confirmed and has provided confirmation that for at least the next 12 months from the date of approval of these financial statements, it will continue to make available such funds that are needed by the Company. Based on these the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

2.3

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.4

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. The Company has not generated turnover to date.

Page 10

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Cost of sales

Cost of sales is measured at the fair value of the consideration paid or payable, net of discounts and value added taxes.

2.6

Administrative Expenses

Administration costs are measured on an accrual basis at the fair value of the consideration paid or payable, net of discounts and value added taxes.

2.7

Interest payable

Interest payable is the amount of interest paid or payable on company borrowings (note 10).

2.8

Current and deferred taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. No deferred tax asset has been recognised respect tax losses.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Page 11

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

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:

Assets under construction

Not depreciated until in use

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 the Statement of Comprehensive Income.
The depreciation expense is charged to administrative expenses within the Statement of Comprehensive Income. The Development costs are tangible assets in progress which will not be subject to depreciation at this stage.

2.10

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.11

Cash and cash equivalents

Cash is represented by cash in bank and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Page 12

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.

Basic financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Page 13

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements:
Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives considering the residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.

Assets under Construction

Development costs are capitalised based on the feasibility of the project being successful, as per the group capitalisation policy. These are not depreciated straight away but once construction is complete these costs will be depreciated over the life of the asset. If the project is not successful, the capitalised costs are expensed.

Audit fee

15,000

18,000

There were no non-audit services provided by the auditor (2023: Nil).

Employees

The average monthly number of employees, including Directors, during the year was 3 (2023 - 3).
There are no directors remunerated from the entity its paid by the Group.

Page 14

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Taxation

Loss on ordinary activities before tax

(49,139)

(32,523)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 23.52%)	(12,285)	(7,649)
Deferred tax asset not recognised	12,285	7,649
Total tax charge for the year	-	-

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

7.	Tangible fixed assets

		Assets under construction
		£
	Cost
	At 1 January 2024	150,257
	Additions	92,894
	At 31 December 2024	243,151

	Net book value
	At 31 December 2024	243,151
	At 31 December 2023	150,257

Page 15

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£



VAT recoverable	15,583	11,977

9.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	62,878	64,837
Accruals and deferred income	24,000	19,000
	86,878	83,837

10.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Amounts owed to group undertakings (note 14)	361,338	230,798

Amounts owed to group undertakings are subject to 6% per annum interest charge. They are unsecured and have no repayment date.

11.	Called up share capital
		2024	2023
		£	£

Allotted, called up and fully paid

2 (2023: 2) Ordinary shares of £1.00 each each	2	2

The Company has one class of ordinary shares which carry voting, but no right to fixed income.

12.

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses of the Company.

Page 16

FRV TYLER HILL BESS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Commitments under operating leases

The Company had no commitments under operating leases at the reporting date.

14.	Related party transactions
	The Company has taken advantage of the exemption offered in FRS 102, not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by the same parent undertaking.

15.	Post balance sheet events

There have been no significant events affecting the Company since the year end.

16.	Controlling party

The largest and smallest group for which consolidated financial statements are prepared is that headed by FRV Solar Holdings 24 S.L. FRV Solar Holdings 24 S.L. is the only company that prepares consolidated accounts that includes the Company, company registered in Spain. The registered office of the controlling party is Calle Maria De Molina No. 40, 5th Floor, Madrid, Spain, 28006.
In the Directors' opinion, the ultimate controlling party is Mohammed Abdullatif Jameel by virtue of his shareholding and economic rights in the ultimate parent undertaking.

Page 17