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REGISTERED NUMBER: 09892557 (England and Wales)

| Unaudited Financial Statements |

| For The Year Ended 30 June 2025 |

| for |

| Ernesettle Community Solar Limited |

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Contents of the Financial Statements

For The Year Ended 30 June 2025

Page |

| Balance Sheet | 1 |

| Notes to the Financial Statements | 3 |

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,202,783 |  | 2,407,792 |  |

CURRENT ASSETS

Debtors | 5 | 325,798 |  | 544,772 |  |

Cash at bank | 1,004,987 |  | 785,035 |  |

1,330,785 |  | 1,329,807 |  |

CREDITORS

Amounts falling due within one year | 6 | 372,526 |  | 408,349 |  |

NET CURRENT ASSETS | 958,259 |  | 921,458 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,161,042 |  | 3,329,250 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (2,260,232 | ) | (2,481,814 | ) |

PROVISIONS FOR LIABILITIES | 11 | (110,539 | ) | (117,037 | ) |

NET ASSETS | 790,271 |  | 730,399 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Shareholder loan capital

contribution | 12 | 429,276 |  | 429,276 |  |

Retained earnings | 360,994 |  | 301,122 |  |

SHAREHOLDERS' FUNDS | 790,271 |  | 730,399 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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.

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Balance Sheet - continued

30 June 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

C J Penberthy - Director

L Richards - Director

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Notes to the Financial Statements

For The Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Ernesettle Community Solar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 09892557

| Registered office: | Office 37

| Genesis Building

| 235 Union Street

| Plymouth

| Devon

| PL1 3HN

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.

| Turnover

| Turnover represents net sales of electricity from units generated at the site and by selling back into the national grid at an agreed rate. Income is recognised on an accruals basis when the company first has right to the consideration.

| Capital grant income has been deferred and released in accordance with the company's depreciation policy.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life.

| Plant and machinery - 5% straight line

| Tangible fixed assets relate to the capital equipment and associated costs incurred to get the site ready and equipped with solar panels necessary to generate income.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Provisions

| Provisions are recognised only when the outcome is unavoidable and can be reliably measured. They are recognised in the accounts as a non-tax deductible expense.

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Long term loans below market rate

| Long term loans received with an interest rate below market value have been discounted to present value at the market rate less the actual rate of interest. The amount discounted will be unwound over the term of the loan by way of an annual transfer between reserves.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 4,100,174 |  |

| DEPRECIATION

| At 1 July 2024 | 1,692,382 |  |

| Charge for year | 205,009 |  |

| At 30 June 2025 | 1,897,391 |  |

| NET BOOK VALUE

| At 30 June 2025 | 2,202,783 |  |

| At 30 June 2024 | 2,407,792 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | - |  | 149,826 |  |

| Other debtors | 325,798 |  | 394,946 |  |

325,798 |  | 544,772 |  |

| Included in other debtors is accrued income to the sum of £303,437 (2024: £361,769).

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade creditors | 7,529 |  | 9,691 |  |

| Taxation and social security | 44,764 |  | 79,145 |  |

| Other creditors | 320,233 |  | 319,513 |  |

372,526 |  | 408,349 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Other creditors | 2,260,232 |  | 2,481,814 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans more 5yrs instal | 1,332,771 |  | 1,526,633 |  |

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

8. | LOANS

| Included in creditors are loans from PEC Renewables Limited, the parent company, at a value of £254,685 (2024: £301,532 ). Part of this is a 20 year loan received at below market rate and has been discounted by £429,276 (2024: £429,276 ) from the total amount repayable of £683,961 (2024:£730,808). The agreed market rate for the loan was 10% and actual interest is 6%. This discount is reflected in the equity as a capital contribution.

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 30.6.25 |  | 30.6.24

£ | £ |

| Within one year | 21,766 |  | 21,766 |  |

| Between one and five years | 87,064 |  | 87,064 |  |

| In more than five years | 217,660 |  | 239,426 |  |

326,490 |  | 348,256 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.6.25 |  | 30.6.24

£ | £ |

| Plymouth City Council Loan | 2,253,519 |  | 2,423,776 |  |

| The loan is secured by way of a fixed charge over: the lease of the land, the solar project in its entirety, its present and future uncalled capital and goodwill (including the share capital), all present and future contracts or insurance policies and any other plant and machinery owned by the company.

| In addition there is a floating charge on the debtors of the business, including any other interests it may own not previously recognised.

11. | PROVISIONS FOR LIABILITIES

| 30.6.25 |  | 30.6.24

£ | £ |

| Deferred tax | 21,895 |  | 39,393 |  |

| Inverter replacement reserve | 88,644 |  | 77,644 |  |

110,539 |  | 117,037 |  |

| Deferred |  | Inverter |

| tax |  | reserve |

£ | £ |

| Balance at 1 July 2024 | 39,393 |  | 77,644 |  |

| Provided during year | - |  | 11,000 |  |

| Reversal of |

| accelerated capital allowances | (17,498 | ) | - |  |

| Balance at 30 June 2025 | 21,895 |  | 88,644 |  |

| The inverter replacement provision is for the cost of replacing the key component of the solar arrays across the site. This expenditure is compulsory for the site to remain operational.

| Ernesettle Community Solar Limited (Registered number: 09892557) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

12. | RESERVES

| Shareholder

| loan

| capital

| contribution

£ |

| At 1 July 2024

| and 30 June 2025 | 429,276 |  |

13. | RELATED PARTY DISCLOSURES

| A separate loan existed between the company and its parent PEC Renewables Limited. At the end of the period the fair value of the loan was £254,685 (2024: £301,532). This is a 20 year loan and has been discounted by £429,276 from the total repayments of £683,961 (2024: £730,808). Interest is chargeable on this loan at 6%.

| Interest has been paid on the above loans to the sum of £44,004 (2024: £53,650).