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REGISTERED NUMBER: 14405078 (England and Wales)

Rey Energy Ltd

Unaudited Financial Statements for the Year Ended 31 December 2024

Rey Energy Ltd (Registered number: 14405078)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

Rey Energy Ltd

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | R Caldow

| O Eroglu

| A M Munro

| T Yildiz

| REGISTERED OFFICE: | Unit 3 Spartan Close

| Warwick

| CV34 6NG

| REGISTERED NUMBER: | 14405078 (England and Wales)

| ACCOUNTANTS: | Gibson McKerrell Burrows Limited

| 28 Rutland Square

| Edinburgh

| EH1 2BW

Rey Energy Ltd (Registered number: 14405078)

Statement of Financial Position

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 386 |  | - |  |

CURRENT ASSETS

Debtors | 5 | 1,529,902 |  | 500 |  |

Cash at bank | 2,727 |  | - |  |

1,532,629 |  | 500 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,510,955 |  | 42,240 |  |

NET CURRENT ASSETS/(LIABILITIES) | 21,674 |  | (41,740 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 22,060 |  | (41,740 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 21,960 |  | (41,840 | ) |

22,060 |  | (41,740 | ) |

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2026 and were signed on its behalf by:

A M Munro - Director

Rey Energy Ltd (Registered number: 14405078)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Rey Energy Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

| Depreciation

| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Computer equipment - 33% straight line

| Impairment of fixed assets

| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

| Financial instruments

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Rey Energy Ltd (Registered number: 14405078)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2023 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| Additions | 579 |  |

| At 31 December 2024 | 579 |  |

| DEPRECIATION

| Charge for year | 193 |  |

| At 31 December 2024 | 193 |  |

| NET BOOK VALUE

| At 31 December 2024 | 386 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts owed by

| group undertakings | 1,527,351 |  | - |  |

| VAT | 2,551 |  | 400 |  |

| Called up share capital not paid | - |  | 100 |  |

1,529,902 |  | 500 |  |

Rey Energy Ltd (Registered number: 14405078)

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 | 113,300 |  | - |  |

| Corporation tax | 5,061 |  | - |  |

| Social security and other taxes | 6,515 |  | 3,904 |  |

| Amounts owed to

| group undertakings | 367,720 |  | 6,400 |  |

| Accruals and deferred income | 1,018,359 |  | 31,936 |  |

1,510,955 |  | 42,240 |  |

7. | RELATED PARTY DISCLOSURES

| The company was under the control of Ryse Energy (UK) Limited and Yeo Teknoloji Enerji ve Endustri A.S. throughout the period. Both parties hold 50% of the issued share capital.

| At 31 December 2024, the company owed Ryse Energy (UK) Limited £46,803 (2023 - £6,400). This amount is interest free with no specific terms of repayment.

| At 31 December 2024, Yeo Teknoloji Enerji ve Endustri A.S. owed the company £1,527,351 (2023 - £Nil). This amount is interest free with no specific terms of repayment.

| At 31 December 2024, the company owed Yeo Contracting LLC £320,917 (2023 - £Nil). This amount is interest free with no specific terms of repayment. Yeo Contracting LLC is a 100% owned subsidiary of Yeo Teknoloji Enerji ve Endustri A.S.

| At 31 December 2024, the company owed Ryse Energy International Limited £7,828 (2023 - £Nil). This amount is interest free with no specific terms of repayment. Mr A M Munro is a director of Ryse Energy International Limited.