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Registered number: 13345674 EE ASSET MANAGEMENT LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025 TWP Accounting LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE
EE ASSET MANAGEMENT LIMITED COMPANY INFORMATION
Directors | D Kelleher
| R Kilduff (resigned 22 July 2025)
| D Orio
| C J Sarasa Maestro (resigned 3 September 2025)
| J Walsh (resigned 3 April 2024)
| J Buggy (appointed 15 November 2024)
| B Lynch (appointed 3 September 2025)
Registered number | 13345674
Registered office | The Old Rectory
| Church Street
| Weybridge
| Surrey
| KT13 8DE
Independent auditor | TWP Accounting LLP
| Chartered Accountants & Statutory Auditors
| The Old Rectory, Church Street
| Weybridge
| Surrey
| KT13 8DE
EE ASSET MANAGEMENT LIMITED REGISTERED NUMBER: 13345674 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets |  |  | - |  | 868
|  |  | - |  | 868
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 144,375 |  | 1,312,486 |
Cash at bank and in hand | 6 | 7,262 |  | 21,699 |
|  | 151,637 |  | 1,334,185 |
Creditors: amounts falling due within one year | 7 | (1,681,720) |  | (1,238,753) |
Net current (liabilities)/assets |  |  | (1,530,083) |  | 95,432
Total assets less current liabilities |  |  | (1,530,083) |  | 96,300
Net (liabilities)/assets |  |  | (1,530,083) |  | 96,300
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Profit and loss account |  |  | (1,530,183) |  | 96,200
|  |  | (1,530,083) |  | 96,300
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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 December 2025.
................................................ D Kelleher
Director
The notes on pages 2 to 7 form part of these financial statements. Page 1
EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
EE Asset Management Limited (13345674) is incorporated in England and Wales and limited by shares. The nature of the company's operations and principal activity is asset management and development support services. The address of the registered office is given in the company information page of these financial statements. 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company is reliant upon the continued financial support of its parent to provide sufficient working capital to meet its trading expectations for the foreseeable future which is defined as twelve months from the date of approval of these financial statements. Therefore the directors consider that the going concern basis of accounting is appropriate.
| 2.3 | Revenue
Turnover comprises of revenue by the company in respect of asset management services supplied during the year to the companies inside of its group organisation and third parties, exclusive of value added tax and trade discounts.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.5 | 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. Page 2
EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
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:
|  |  |  | Office equipment | - | 25% | straight line
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 profit or loss.
| 2.6 | Debtors
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.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Creditors
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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 9 (2024 - 8).
Page 3
EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Office equipment
|  | £
| At 1 April 2024 | 1,155
| Disposals | (1,155)
| At 31 March 2025 | -
| At 1 April 2024 | 287
| Charge for the year on owned assets | 119
| Disposals | (406)
| At 31 March 2025 | -
| Net book value |
| At 31 March 2025 | -
| At 31 March 2024 | 868
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EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 13,324 | -
| Amounts owed by group undertakings | 60,510 | 1,260,145
| Other debtors | - | 2,055
| Prepayments and accrued income | 70,541 | 50,286
|  | 144,375 | 1,312,486
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 7,262 | 21,699
|  | 7,262 | 21,699
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | - | 5,130
| Amounts owed to group undertakings | 752,672 | 1,142,259
| Other taxation and social security | 44,781 | 14,084
| Other creditors | 2,788 | 4,891
| Accruals | 881,479 | 72,389
|  | 1,681,720 | 1,238,753
8. | Long term incentive plan
During the year ending March 2025 a long-term share incentive plan was introduced on 4th April 2025. 5,000 units were issued with a minimum vesting period of four years, subject to scheme rules: The units are non-voting and do not carry any rights to dividends. The incentive will be settled in cash. The success factors to determine a payment under the incentive scheme require, inter alia, a takeover of the Company or a listing on a qualifying stock market (subject to conditions per the scheme rules). The fair value for the initial tranche of qualifying units at the reporting date was assessed using the Black-Scholes model. The Company recognised £145,039 (2024: £nil ) as an expense in the Statement of Comprehensive Income. Page 5
EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 88 (2024 - 88) Ordinary A shares of £1.00 each | 88 | 88
|  | 12 (2024 - 12) Ordinary B shares of £1.00 each | 12 | 12
|  |  | 100 | 100
10. | Reserves
Profit and loss account The profit and loss account represents profit and losses net of adjustments and dividends.
11. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £25,511 (2024 - £16,945). Contributions totalling £NIL (2024 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.
12. | Related party transactions
| The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.
13. | Controlling party
The company is a subsidiary of Elgin Energy Holding Limited, a company incorporated in England and Wales. Elgin Energy Holding Limited is the parent of the largest group in which the Company is consolidated. Copies of the accounts of Elgin Energy Holding Limited are available at the Companies House website. The ultimate parent undertaking is CI V Porto Topco Limited, a company incorporated in England and Wales. There is no ultimate controlling party. Page 6
EE ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. | Auditor's information
The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 3 December 2025 by Philip Munk FCA FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP. This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 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.
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