REGISTERED NUMBER: 13650348 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FORESIGHT 85 DEGREES RENEWABLES LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

Directors:

C S Wright

R Pollock

D R Weeks

Registered office:

C/o Foresight Group Llp The Shard

32 London Bridge Street

London

SE1 9SG

Registered number:

13650348 (England and Wales)

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 a holding company.

Directors

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

C S Wright

R Pollock

D R Weeks

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

Turnover

-

-

Administrative expenses

(119,989

)

-

Operating loss

(119,989

)

-

Income from shares in group undertakings

4,106,420

1,243,577

3,986,431

1,243,577

Interest payable and similar expenses

(4,121,887

)

(1,184,316

)

(Loss)/profit before taxation

(135,456

)

59,261

Tax on (loss)/profit

1,587,974

-

Profit for the financial year

1,452,518

59,261

Fixed assets

Investments

4

73,470,000

32,470,000

Current assets

Debtors

5

7,913,141

2,218,744

Creditors

Amounts falling due within one year

6

(6,324,182

)

(2,223,307

)

Net current assets/(liabilities)

1,588,959

(4,563

)

Total assets less current liabilities

75,058,959

32,465,437

Creditors

Amounts falling due after more than one year

7

(60,611,004

)

(19,470,000

)

Net assets

14,447,955

12,995,437

Capital and reserves

Called up share capital

3

3

Share premium

12,999,998

12,999,998

Retained earnings

1,447,954

(4,564

)

14,447,955

12,995,437

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

1.	Statutory information

Foresight 85 Degrees Renewables 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	Employees and directors

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

4.	Fixed asset investments

Shares in

group

undertakings

€

Cost

At 1 January 2024

32,470,000

Additions

41,000,000

At 31 December 2024

73,470,000

Net book value

At 31 December 2024

73,470,000

At 31 December 2023

32,470,000

5.

Debtors: amounts falling due within one year

31.12.24

31.12.23

€

€

Other debtors

3

1

Deferred tax asset

1,587,974

-

Prepayments and accrued income

6,325,164

2,218,743

7,913,141

2,218,744

6.

Creditors: amounts falling due within one year

31.12.24

31.12.23

€

€

Accrued expenses

6,324,182

2,223,307

7.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

€

€

Other creditors

60,611,004

19,470,000

8.	Related party disclosures

At the end of the year the company owed a long term loan of €60,611,004 (2023 - €19,470,000) to Foresight Energy Infrastructure Partners 1 S.a r.l, the parent company.

In the year interest incurred on the loan was €4,121,887 (2023 - €1,184,316), at the end of the year the interest payable balance was €6,324,182 (2023 - €2,223,307).

During the year the company purchased €41,000,000 (2023 - €9,470,000) of preference share capital in its subsidiary, 85 Degrees Renewable Limited.

The total investment in its subsidiary at the end of the year was €73,470,000 (2023 - €32,470,000).

€4,106,420 (2023 - €1,243,576) of preference share dividends were accrued in the year, the accrued income balance at end of the year was €6,324,182 (2023 - €2,218,743).

During the reporting period the aggregate cost of services provided by Foresight Asset Management Limited, a related party by common control, in respect of asset management fees, amounted to €15,369 (2023 - €nil), 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.

10.	Presentation currency

The accounts are presented in Euro's as this is the functional currency of the company.