The directors of the company have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Field Gerrards Cross Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Fora Montacute Yards, Shoreditch High St, London, United Kingdom, E1 6HU. The company's principal activities and nature of its operations are disclosed in the directors' report.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Company has taken advantage of exemptions available under FRS 101 in relation to the following:

• Cash flow statement and related notes;

• Disclosures in respect of capital management;

• Disclosures in respect of the compensation of Key Management Personnel.

The following Adopted IFRSs have been issued but have not been applied by the Company in these financial statements. Their adoption is not expected to have a material effect on the financial statements unless otherwise indicated (effective dates to be confirmed):

• Amendments to IFRS 9 Financial Instruments, Classification and Measurement of Financial Instruments

• Amendments to IFRS 9 Financial Instruments, Contracts Referencing Nature‑dependent Electricity

• IFRS 18 Presentation and Disclosure in Financial Statements

• IFRS 19 Subsidiaries without Public Accountability

• Annual Improvements to IFRS Accounting Standards – Volume 11 (amends IFRS 1, 7, 9, 10 and IAS 7)

The results of the Company are included in the consolidated financial statements of the ultimate parent company, Virmati Energy Ltd which are publicly available and may be obtained from its registered office at Fora Montacute Yards, Shoreditch High St, London, E1 6HU.

Notwithstanding net current liabilities of £1true3.4m as at 31 March 2025 and a loss for the year then ended of £1.2m the financial statements have been prepared on a going concern basis which the directors consider to

be appropriate for the following reasons.

The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds, through funding from its immediate parent company, V.E Series B Borrower Ltd, to meet its liabilities as they fall due for that period.

Those forecasts are dependent on V.E Series B Borrower Ltd not seeking repayment of the amounts currently due to the parent, which at 31 March 2025 amounted to £13.6m, and providing additional financial support during that period. Under the facility agreement, V.E Series B Borrower Ltd agrees to continue to make available such funds as required by the Company and that it does not intend to seek repayment of the amounts due at the balance sheet date, for the period covered by the forecasts.

As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Revenue is related to the provision of energy storage through capacity market supply or generation under a third-party optimisation agreement.

The company has applied the IFRS 15 5 step model to its recognition of revenue which reflects the consideration the entity expects to receive under the terms of the agreement, over the period in which the service is delivered and recognised at a point in time.

Revenue is presented net of operating charges, contractual deductions and allowances deemed directly attributable to the provision of energy and excludes any administrative costs deducted at source.

Other operating income relates to contractual obligations or compensation for non-rendering of services which are not directly associated with primary operations of the asset.

Property, plant and equipment is stated at cost less accumulated depreciation and any accumulated impairment loss. Cost includes expenditure that is directly attributable to the acquisition and construction in the location and condition necessary for it to be capable of operating in the manner intended by management. Costs include site preparation, planning, battery energy storage system (BESS), grid connection, civil engineering, cabling, professional fees, direct labour, cost of materials and other directly attributable costs such as borrowing costs.

Assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Financial assets measured at amortised cost

Financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivables within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial liabilities measured at amortised cost

Financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a

past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can

be made of the amount of the obligation. The amount recognised as a provision is the best estimation of the

considerations required to settle the present obligation at the reporting date, considering the risks and

uncertainties surrounding the obligation.

A provision is recognised when there is a legal obligation to decommission the asset. The provision is an

estimation of the future costs, discounted over the life of the contractual obligation and is calculated using an

estimation of costs related to the removal of the installed plant and site restoration. The provision is

recognised during the construction of the asset, when construction is substantially complete and the amount

can be estimated reliably.

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other property, plant and equipment. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in: future lease payments arising from a change in an index or rate; the company's estimate of the amount expected to be payable under a residual value guarantee; or the company's assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

In the application of the Company’s accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue presentation

In determining the presentation of revenue, management has assessed that the third-party operator of an asset is deemed a managing agent . The operator does not have substantially all the economic benefit or sole right to direct the use of the asset, therefore costs associated with the purchase of energy and other operating charges are not sufficiently separable costs and are netted in the presentation of revenue.

The Company's turnover all arose in the United Kingdom and relates to a battery storage site owned and operated by the Company. Turnover arises from the sale of electricity along with capacity market income.

The Company had no employees during the year (31 March 2024: nil) except for the directors. No remuneration was paid or is payable by the company (2024: £nil). The Directors are employed by other companies in the group and consider their duties to this company incidental to their other activities within the group. As a result, no qualifying services have been performed in either year.

Short term loans in the Company are provided principally under the terms of a facility held by its immediate parent, V.E Series B Borrower Limited, and are deemed repayable on demand. Repayment of further borrowings, which excludes direct charges, is restricted in accordance with the facility and are deemed long term and non-interest bearing.

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

Transactions with commonly owned entities are not disclosed as the Company has taken advantage of the exemption from the requirement in IAS 24 ‘Related party disclosures’ to disclose related party transactions entered into between two or more members of a group. All parties involved were commonly, wholly owned entities. There were no other material related party transactions.

The immediate parent undertaking is V.E Series B Borrower Ltd (Registered number:13918493) and ultimate parent undertaking is Virmati Energy Ltd (Registered number:13095982), a company incorporated in the United Kingdom. Virmati Energy Limited is the parent undertaking of the smallest and largest group to consolidate this Company's financial statements. Copies of Virmati Energy Ltd’s consolidated financial statements can be obtained from Fora Montacute Yards, Shoreditch High St, London, E1 6HU.