Storelectric Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—7

1. General Information

Storelectric Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08661270 . The registered office is Meacher-Jones 6 St John's Court, Vicars Lane, Chester, CH1 1QE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.1a Reporting period

In the prior period, the company changed it's accounting reference date from 31st August to 31st March. The proir accounting period is therefore a 7 month period and, as a result, the prior period figures may not be entirely comparable.

2.2. Going Concern Disclosure

The directors regularly review the potential for material uncertainties relating to events or conditions that may cast significant doubt about the company’s ability to continue as a going concern. In assessing whether the going concern assumption is appropriate, the directors take into account all available information about the future, which is at least, but not limited to, twelve months from the date when the financial statements are authorised for issue.

For the 2026 financial year, the directors have considered the costs required to meet its operating commitments and recognise that the dependency on securing additional development funding represents a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern. At the balance sheet date the company’s profit and loss reserves are in a debit position of £2,028,511 with net assets standing at £5,186,816. The company had cash at bank of £1,417,306 and incurred losses after tax of £1,066,205 for the year. The company remains in a development phase and does not yet generate commercial revenue. Its cash requirements relate primarily to corporate overheads, technical development and project management.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Patents & licences 10% straight line

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	33.33% straight line basis
Computer Equipment	33.33% straight line basis

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 credited or charged to the profit and loss account.

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Storelectric Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.8. Fixed Asset Investments

Investments in subsidiaries, associates or joint ventures are carried at cost less provision for impairment.

2.9. Statutory audit information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s448(5B) of the Companies Act 2006

The auditor's report was unqualified

Senior Statutory Auditor: Robert Pearl BEng, BSC, ACA

Statutory Auditor: Xeinadin Audit Limited

Date of audit report: 23 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

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Storelectric Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	13,771

As at 31 March 2025	13,771

Amortisation
As at 1 April 2024	3,902
Provided during the period	1,377

As at 31 March 2025	5,279

Net Book Value
As at 31 March 2025	8,492

As at 1 April 2024	9,869

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	317	5,299	5,616
Additions	-	221	221

As at 31 March 2025	317	5,520	5,837

Depreciation
As at 1 April 2024	147	2,708	2,855
Provided during the period	105	1,840	1,945

As at 31 March 2025	252	4,548	4,800

Net Book Value
As at 31 March 2025	65	972	1,037

As at 1 April 2024	170	2,591	2,761

6. Investments

	Unlisted
	£
Cost
As at 1 April 2024	195,750
Additions	100
Disposals	(195,750 )

As at 31 March 2025	100

Provision
As at 1 April 2024	-

As at 31 March 2025	-

...CONTINUED

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Storelectric Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	100

As at 1 April 2024	195,750

The company's investments at the balance sheet date in the share capital of companies include the following:

Storelectric Holdings Limited

Nature of business: Energy Production

Class of Shares; Ordinary. Holding 100%

Aggregate capital and reserves 31.03.2025 100.

Profit/(loss) for the period £nil

7. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Prepayments and accrued income	9,210	28,528
Other debtors (Debtors < 1 year)	5,724	24,134
Deferred tax current asset	542,969	254,133
VAT	-	110,584
Net wages	351	351
Amounts owed by group undertakings	-	2,361,429
Amounts owed by related parties	3,259,421	-

	3,817,675	2,779,159

8. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	41,033	52,370
Other taxes and social security	4,658	8,620
VAT	2,408	-
Other creditors	3,207	2,610
Accruals and deferred income	6,488	4,038

	57,794	67,638

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Storelectric Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Share Capital

	31 March 2025	31 March 2024
Allotted, called up and fully paid	£	£
1,640,150 Ordinary B shares of £ 0.0002 each	328	228

	31 March 2025	31 March 2024
Allotted, called up but not fully paid	£	£
15,204,348 Ordinary A shares of £ 0.0002 each	3,041	3,015


Shares issued during the period:	£
129,550 Ordinary A shares of £ 0.0002 each	26
499,800 Ordinary B shares of £ 0.0002 each	100

	126

10. Capital Commitments

	31 March 2025	31 March 2024
	£	£
At the end of the period	65,998	-

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

11. Related Party Transactions

Storelectric Technology Limited

During the year the company sold its shares in Tes Caes Technology Limited, for £100 to Storelectric Technology Limited, a company with mutual directors. At the balance sheet date £100 was due to Storelectric Limited and this is disclosed in debtors

Storelectric Projects Limited

During the year the company sold its shares in Storelectric Teesside Limited, for £100 and Storelectric Fleetwood Limited, for £100 to Storelectric Projects Limited, a company with mutual directors. At the balance sheet date £200 was owed to Storelectric Limited and this is disclosed in debtors

Storelectric Cheshire Limited

At 31st March 2025 Storelectric Limited was owed £2,066 (31.03.2024: £2,066) by a company owned by a related party. There was no movement during the year. This balance has been disclosed in debtors.

Storelectric Fleetwood Limited

At 31st March 2025 Storelectric Limited was owed £2,927 (31.03.2024: £2,927) by Storelectric Fleetwood Limited, a wholly owned subsidiary until sold during the year to Storelectric Projects Limited. There was no movement during the year. This balance has been disclosed in debtors.

Tes Caes Technology Limited

At 31st March 2025 Storelectric Limited was owed £45,360 (31.03.2024: £42,844) by Tes Caes Technology Limited which was a wholly owned subsidiary until sold during the year to Storelectric Technology Limited. During the year £2,516 was paid out on their behalf, no repayments were made. This balance has been disclosed in debtors.

Storelectric Teesside Limited

At 31st March 2025 Storelectric Limited was owed £3,208,768 (31.03.2024;£2,313,591) by Storelectric Teesside Limiited a wholly owned subsidiary until sold during the year to Storelectric Projects Limited. During the period the company charged management charges of £ nil (31.03.2024 £412,797). £760,000 was also loaned to Storelectric Teesside Limited duiring the year, no repayments were made. Interest of £135,175 was also charged on the total loan to Storelectric Teesside Limited. This balance has been disclosed in debtors.

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Storelectric Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our accountants to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. Audit Information

The auditor's report on the accounts of Storelectric Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Robert Pearl BEng, BSC, ACA (Senior Statutory Auditor) for and on behalf of Xeinadin Audit Limited , Statutory Auditor.

Xeinadin Audit Limited

First Floor

The Foundation, Herons Way

Chester Business Partk

Chester

CH4 9GB

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		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		8,492		9,869
Tangible Assets	5		1,037		2,761
Investments	6		100		195,750

			9,629		208,380
CURRENT ASSETS
Debtors	7	3,817,675		2,779,159
Cash at bank and in hand		1,417,306		1,872,136

		5,234,981		4,651,295
Creditors: Amounts Falling Due Within One Year	8	(57,794 )		(67,638 )

NET CURRENT ASSETS (LIABILITIES)			5,177,187		4,583,657

TOTAL ASSETS LESS CURRENT LIABILITIES			5,186,816		4,792,037

NET ASSETS			5,186,816		4,792,037

CAPITAL AND RESERVES
Called up share capital	9		3,369		3,243
Share premium account			7,106,891		5,646,033
Other reserves			105,067		105,067
Profit and Loss Account			(2,028,511 )		(962,306 )

SHAREHOLDERS' FUNDS			5,186,816		4,792,037