The directors acknowledge their responsibilities for complying with the requirments of the Companies Act 2006 with respect ot accounting records and the preparation of accounts.

The financial statements were approved and authorised for issue by the Board of Directors on 17 September 2025.

Signed on behalf of the Board of Directors

Botanics Energy Company Limited is a private company limited by shares, registered in Scotland. The address of the registered office is as below:

20a Inverleith Row

Edinburgh

United Kingdom

EH3 5LR

These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006. The company constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared on a historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed budgets and forecasts for the forthcoming year and are satisfied that the company maintains an appropriate level of liquidity, sufficient to meet the demand of the business. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

No depreciation is charged on assets under construction.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

The loan is secured by a floating charge over the assets of the company. The loan is interest free and will be repaid by 2052, with repayment commencing when Botanics Energy Company starts generating income.

Total capital expenditure contracted for but not provided for in the financial statements amount to £Nil (2024 - £6,440,740).

At the 31 March 2025 the company owed amounts falling due in more than one year of £8,815,760 (2024: £1,774,690) in respect of a loan from the Royal Botanic Gardens Edinburgh. Further details are provided in note 6.

The company is wholly owned and controlled by the Trustees of the Royal Botanic Garden Edinburgh. The financial statements of the company are consolidated into the financial statements of the Royal Botanic Garden Edinburgh, a charity registered in Scotland and non-departmental public body of the Scottish Government. The consolidated financial statements are available from the Royal Botanic Garden Edinburgh, 20a Inverleith Row, Edinburgh, EH3 5LR.

The auditor's report was unqualified.

The senior statutory auditor was Barry Truswell, for and on behalf of CT.