The principal activity of the LLP is to finance, design, build and manage a renewable plant situated in Stoke, for a period of 25 years from May 2020 to April 2045. Whilst construction was completed in February 2023, it has been placed into a state of preservation with future renovation work planned.

The members who served during the year were as follows:

The financial statements have not been prepared on a going concern basis. The LLP has assets attributable to Members of £18,356,602 at 31 December 2024 (2023: £18,197,775).

Whilst the designated members have received a letter of support from its ultimate beneficial owner which sets out that for the period of 12 months from the signing and approval of the financial statements, they will continue to provide any support necessary for the LLP to meet its day to day working capital requirements, there is also a review underway in respect of restructuring the ownership and operations which could see the assets and liabilities of the LLP being transferred to another entity. Whilst this is not certain to happen and has not completed, there is a potential it will within the next 12 months. As such there is a material uncertainty in relation to the going concern status of the LLP.

Should the restructuring not happen, there is a loan facility in place for £25m which is available for the development of the asset, which is repayable on demand. However, the owner has confirmed they will not recall this balance in the next 12 months. The members are satisfied that whilst the asset is not trading, there is sufficient resources available and cash at bank to ensure that for at least the next 12 months the LLP has sufficient resources available to meet any liabilities as they fall due.

The members are responsible for preparing the Annual Report and annual financial statements in accordance with applicable law and regulation.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members 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, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members 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 LLP and of the profit or loss of the LLP for that period.

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

select suitable accounting policies and then apply them consistently;

make judgements and estimates that are reasonable and prudent; and

prepare the annual financial statements on a going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the persons who are members at the time when this Members' Report is approved has confirmed that:

so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and

that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

Signed by order of the Members on behalf of Clinitek (Stoke) LLP on 29 September 2025

We have audited the annual financial statements of Clinitek (Stoke) LLP (the 'limited liability partnership') which comprise the statement of financial position as at 31 December 2024, and the statement of comprehensive income, reconciliation of members' interests for the year then ended, and notes to the annual financial statements, 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 FRS102 The Financial Reports Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the annual financial statements:

give a true and fair view of the state of the limited liability partnership's affairs as at 31 December 2024 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 properly prepared in accordance with the requirements of the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 annual financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the annual 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.

We draw attention to Note 9 to the financial statements which explains that there is currently a restructuring review underway which has the potential to leave the LLP as no longer being needed with all assets and liabilities being novated to a new entity. Therefore the members do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern described at Note 10. Our opinion is not modified in respect of this matter.

The other information comprises the Annual Report, other than the annual financial statements and our auditor's report thereon. Our opinion on the annual financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express an any form of assurance conclusion thereon. In connection with our audit of the annual financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the annual financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent misstatements, we are required to determine whether there is a material misstatement in the annual financial statements or a material misstatement of the other information. 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.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, as applied to limited liability partnerships, 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 annual financial statements are not in agreement with the accounting records and returns; or

we have not received all the information and explanations we require for our audit; or

the members were not entitled to prepare the financial statements in accordance with the small limited liability partnerships regime.

As explained more fully in the Members' Responsibilities Statement set out on page 1, the members 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 members 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 members are responsible for assessing the LLP'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 members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

the responsible individual ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

we identified the laws and regulations applicable to the LLP through discussions with directors and other management, and from our commercial knowledge and experience of the infrastructure sector;

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the LLP, including the LLP Act;

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

we ensured that the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the LLP's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

performed analytical procedures to identify any unusual or unexpected relationships;

tested journal entries to identify unusual transactions; and

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

agreeing financial statement disclosures to underlying supporting documentation;

reading the minutes of meetings of those charged with governance;

enquiring of management as to actual and potential litigation and claims;

held discussions with those responsible for all health and safety compliance; and

reviewing correspondence with HMRC, relevant regulators and the LLP's legal expenditure.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

This report is made solely to the limited liability partnership'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 our might state to the limited liability partnership'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 limited liability partnership and the limited liability partnership's members as a body, for our audit work, for this report, or for the opinions we have formed.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small LLP's regime.

The annual financial statements were approved and authorised for issue by the Board on 29 September 2025.

Signed on behalf of the Board

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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

The following principal accounting policies have been applied:

The financial statements have not been prepared on a going concern basis. The LLP has assets attributable to Members of £18,356,602 at 31 December 2024 (2023: £18,197,775). Whilst the designated members have received a letter of support from its ultimate beneficial owner which sets out that for the period of 12 months from the signing and approval of the financial statements, they will continue to provide any support necessary for the LLP to meet its day to day working capital requirements, there is also a review underway in respect of restructuring the ownership and operations which could see the assets and liabilities of the LLP being transferred to another entity. Whilst this is not certain to happen and has not completed, there is a potential it will within the next 12 months. As such there is a material uncertainty in relation to the going concern status of the LLP.

Should the restructuring not happen, there is a loan facility in place for £25m which is available for the development of the asset, which is repayable on demand. However, the owner has confirmed they will not recall this balance in the next 12 months. The members are satisfied that whilst the asset is not trading, there is sufficient resources available and cash at bank to ensure that for at least the next 12 months the LLP has sufficient resources available to meet any liabilities as they fall due.

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payments to members, in which case they are classified as equity.

Profits are divided only after a decision by the LLP or its representative, so the LLP has an unconditional right to refuse payment. Such profits are classed as equity rather than as liabilities. They are therefore shown as a residual amount available for discretionary division among members in arriving as the result for the year and are shown as appropriations of equity when they are allocated.

Losses are allocated between the Members in their relevant proportions, restricted to the capital contributions, and shall be classified as equity rather than liabilities. The Members are not required to make additional contributions to cover any potential losses.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity shows within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shows as amounts due from members within members' interests.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Tangible fixed assets under the cost model are stated at historical cost less any impairment loss. Cost includes professional fees and other attributable costs that are necessary to bring the asset to its operating condition.

No depreciation has been provided on the asset still under construction at the Balance Sheet date, and the members will continue not to do so until the plant becomes operational.

Assets that are subject to depreciation or amortisation are assessed at each balance sheet 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. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

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.

Cash is represented by cash in hand 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.

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

Exceptional income represents a waiver of the member loan balances on the date of the sale of £16,478,524 (2023: £nil). In the prior year the designated members undertook an impairment review, an impairment charge of £1,704,644 was processed through the financial statements and in line with the fixed asset note at note 5, in the view of the designated members, this was the open market value of the assets under review.

Subsequent to the year end the entity is currently undergoing a restructuring review which has the potential to leave the LLP as no longer being needed with all assets and liabilities being novated to a new entity. The financial statements have therefore been prepared on a basis other than the going concern basis. No provision has been made for the restructuring costs of the business as no costs were committed as at 31 December 2024.

The financial statements have been prepared on a basis other than the going concern basis.

The LLP incurred management services charges from Equitix Management Services Limited of £252,165 (2023: £82,586). At the balance sheet date, the amount due to Equitix Management Services Limited was £25,503 (2023: £10,113). Prior to the sale of the LLP during the year, Equitix Management Services Limited was a related company by way of it's mutual ultimate parent company.

As at the year end the ultimate controlling party is A Singh.