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REGISTERED NUMBER: 12614452 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BRACO ENERGY STORAGE LIMITED

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Company Information | 1 |

Report of the Directors | 2 |

Income Statement | 3 |

Balance Sheet | 4 |

Notes to the Financial Statements | 5 |

BRACO ENERGY STORAGE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| Directors: | J P Hardy

| D R Weeks

| Registered office: | C/o Foresight Group Llp, The Shard

| 32 London Bridge Street

| London

| SE1 9SG

| Registered number: | 12614452 (England and Wales)

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Principal activity

The principal activity of the company in the year under review was that of owning a Battery Energy Storage Facility, which was under construction during the year. The Company expects to pursue a principal trading activity primarily focused on the storage and sale of electricity, once construction reaches completion.

Directors

J P Hardy and D R Weeks were appointed as directors after 31 December 2024 but prior to the date of this report.

S Ullah and J B Williams ceased to be directors after 31 December 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

D R Weeks - Director

10 December 2025

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

Period |

1.6.23 |

Year Ended | to |

31.12.24 | 31.12.23 |

| £ | £

Turnover | - |  | - |  |

Administrative expenses | (102,376 | ) | (10,799 | ) |

Operating loss | (102,376 | ) | (10,799 | ) |

Interest receivable and similar income | 116 |  | - |  |

(102,260 | ) | (10,799 | ) |

Interest payable and similar expenses | (117,317 | ) | (45,820 | ) |

Loss before taxation | (219,577 | ) | (56,619 | ) |

Tax on loss | 67,904 |  | - |  |

Loss for the financial year | (151,673 | ) | (56,619 | ) |

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

BALANCE SHEET

31 DECEMBER 2024

31.12.24 | 31.12.23 |

| Notes | £ | £

Fixed assets

Tangible assets | 4 | 1,415,467 |  | 1,190,185 |  |

Current assets

Debtors | 5 | 281,912 |  | 152,235 |  |

Cash at bank | 193,619 |  | 1,049 |  |

475,531 |  | 153,284 |  |

Creditors

Amounts falling due within one year | 6 | (166,750 | ) | (55,312 | ) |

Net current assets | 308,781 |  | 97,972 |  |

Total assets less current liabilities | 1,724,248 |  | 1,288,157 |  |

Creditors

Amounts falling due after more than one year | 7 | (1,554,826 | ) | (1,344,894 | ) |

Net assets/(liabilities) | 169,422 |  | (56,737 | ) |

Capital and reserves

Called up share capital | 3,880 |  | 208 |  |

Share premium | 384,826 |  | 10,666 |  |

Retained earnings | (219,284 | ) | (67,611 | ) |

169,422 |  | (56,737 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

D R Weeks - Director

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | Statutory information

| Braco Energy Storage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

| The financial statements have been prepared on a going concern basis. The directors have assessed the company’s financial position and future cash flows and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

| Tangible fixed assets

| The Battery asset is still under construction and is valued at cost in the Financial Statements.

3. | Employees and directors

| The average number of employees during the year was NIL (2023 - NIL).

4. | Tangible fixed assets

Plant and |

machinery |

| £

| Cost

| At 1 January 2024 | 1,190,185 |  |

| Additions | 225,282 |  |

| At 31 December 2024 | 1,415,467 |  |

| Net book value

| At 31 December 2024 | 1,415,467 |  |

| At 31 December 2023 | 1,190,185 |  |

5. | Debtors

31.12.24 | 31.12.23 |

| £ | £

| Amounts falling due within one year:

| Other debtors | 100 |  | 152,235 |  |

| VAT | 5,123 |  | - |  |

| Deferred tax asset | 67,904 |  | - |  |

| Prepayments and accrued income | 36,607 |  | - |  |

109,734 |  | 152,235 |  |

| Amounts falling due after more than one year:

| Other debtors | 172,178 |  | - |  |

| Aggregate amounts | 281,912 |  | 152,235 |  |

BRACO ENERGY STORAGE LIMITED (REGISTERED NUMBER: 12614452)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

6. | Creditors: amounts falling due within one year |

31.12.24 | 31.12.23 |

| £ | £

| Trade creditors | 3,613 |  | 3,264 |  |

| VAT | - |  | 6,228 |  |

| Other creditors | 163,137 |  | 45,820 |  |

166,750 |  | 55,312 |  |

7. | Creditors: amounts falling due after more than one year |

31.12.24 | 31.12.23 |

| £ | £

| Shareholder loan | 1,554,826 |  | 1,344,894 |  |

8. | Related party disclosures

| At the end of the year the company owed a long-term loan of £1,554,826 (2023 - £1,344,894) to Braco Energy Storage Holding Limited, the parent company.

| Interest payable is calculated at a flat rate of 8% and amounted to £117,317 (2023 - £45,820) during the year. The interest payable balance at the end of the year amounted to £163,137 (2023 - £45,820).

| During the year the aggregate cost of services provided by Foresight Asset Management Limited, a related party through common control, in respect of asset management fees amounted to £13,588 (2023 - £2,720) of which £nil was outstanding at the end of the year.

9. | Ultimate controlling party

| The ultimate controlling party is Foresight Energy Infrastructure Partners S.C.Sp, a private, regulated fund resident in Luxembourg.