Mr R T Callaghan 0 0 0 31 October 2025 0.00 0.00 0 2 0 1 November 2024 0 Ordinary shares of 20 166877 5000 537 45019 72744 43577 112638 112638 62 453 515 62 453 515 979 4177 5156 979 4177 5156 2 The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown as accruals in the Statement of financial position. The assets of the scheme are held separately from the Company in independently administered funds.Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of the amounts expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is charged to profit or loss.Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.Subsequently, tangible fixed assets are measured using the cost model . Under the cost model, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Where they relate to timing differences in respect of interests in subsidiaries, joint ventures and associated undertaking and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.The Company's functional and presentational currency is the Pound Sterling.The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.The principal activity of the company during the period was the provision of consultancy services to the energy industry.20 111643 111663 20 106084 106064 20 20 106084 106084 217727 217727 217727 5 February 2026 The Company has opted not to file the Single statement of comprehensive income in accordance with the provisions applicable to companies subject to the small companies regime.The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.The Director acknowledges his 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 in accordance with section 476 of the Companies Act 2006.For the period ending 31 October 2025, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006.1161 162422 4641 31 October 2025 Financial Statements HNDC Ltd 15709646 Financials UK FRS 102 2025.11.0+67892 Revenue from a contract to provide services is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the transaction;the stage of completion of the contract at the end of the reporting period can be measured reliably; andthe costs incurred or to be incurred in respect of the transaction can be measured reliably.217727 15709646 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 15709646 core:OwnedOrFreeholdAssets 2024-11-01 2025-10-31 15709646 bus:OrdinaryShareClass1 2025-10-31 15709646 core:RetainedEarningsAccumulatedLosses 2025-10-31 15709646 core:OfficeEquipment 2025-10-31 15709646 core:RetainedEarningsAccumulatedLosses 2024-11-01 2025-10-31 15709646 core:OtherPropertyPlantEquipment 2024-11-01 2025-10-31 15709646 bus:Director1 2024-11-01 2025-10-31 15709646 core:OwnedOrFreeholdAssets core:OtherPropertyPlantEquipment 2024-11-01 2025-10-31 15709646 core:ShareCapital 2025-10-31 15709646 core:ShareCapital 2024-11-01 2025-10-31 15709646 core:CurrentFinancialInstruments 2025-10-31 15709646 bus:FullAccounts 2024-11-01 2025-10-31 15709646 curr:PoundSterling 2024-11-01 2025-10-31 15709646 core:OwnedOrFreeholdAssets core:OfficeEquipment 2024-11-01 2025-10-31 15709646 core:OfficeEquipment 2024-11-01 2025-10-31 15709646 core:OtherPropertyPlantEquipment 2025-10-31 15709646 bus:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 15709646 2024-11-01 15709646 bus:OrdinaryShareClass1 2024-11-01 2025-10-31 15709646 bus:CompanyLimitedByGuarantee 2024-11-01 2025-10-31 15709646 bus:FRS102 2024-11-01 2025-10-31 15709646 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 15709646 2025-10-31 15709646 2023-11-01 2024-10-31 15709646 2024-11-01 2025-10-31 xbrli:pure xbrli:pure xbrli:shares xbrli:pure iso4217:GBP iso4217:GBP

Registered number: 15709646 # HNDC Ltd ​​​​​ #### #### Unaudited #### ​​Financial Statements #### Information For Filing With The Registrar #### For the period ended 31 October 2025
### HNDC Ltd Registered number: 15709646​ Statement of financial position​ As at 31 October 2025
| Note | 2025 £
--- | --- | ---
Fixed assets |  |
Tangible fixed assets | 5 | 4,641
|  | 4,641
Current assets |  |
Debtors: amounts falling due within one year | 6 | 112,638
Cash at bank and in hand |  | 162,422
|  | 275,060
Creditors: amounts falling due within one year | 7 | (166,877)
Net current assets |  | 108,183
Total assets less current liabilities |  | 112,824
|  | 112,824
Provisions for liabilities |  |
Deferred taxation |  | (1,161)
|  | (1,161)
Net assets |  | 111,663
Capital and reserves |  |
Called up share capital | 8 | 20
Profit and loss account |  | 111,643
Total capital and reserves |  | 111,663
For the period​ ending 31 October 2025, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the Company to obtain an audit in accordance with section 476 of the Companies Act 2006. The Director acknowledges his​ responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the Single statement of comprehensive income in accordance with the provisions applicable to companies subject to the small companies regime.
### HNDC Ltd Registered number: 15709646​ Statement of financial position​ As at 31 October 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf: _______________
Mr R T Callaghan​​​​​ | ​​
Director | ​​​
Date: 5 February 2026 The notes on pages 5 to 9 form part of these financial statements.

### HNDC Ltd Statement of changes in equity For the period ended 31 October 2025​
| Note | Called up share capital £ | Profit and loss account £ | Total £
--- | --- | --- | --- | ---
At 8 May 2024 |  | - | - | -
Profit for the period |  | - | 217,727 | 217,727
Dividends declared and paid |  | - | (106,084) | (106,084)
Shares issued |  | 20 | - | 20
Total transactions with owners |  | 20 | (106,084) | (106,064)
At 31 October 2025 |  | 20 | 111,643 | 111,663
The notes on pages 5 to 9 form part of these financial statements.

### HNDC Ltd 1. General information HNDC Ltd is a private company limited by shares and is incorporated in England & Wales. The address of its registered office is Printing House​, 66 Lower Road​, Harrow​, HA2 0DH. The principal activity of the company during the period was the provision of consultancy services to the energy industry. 2. Accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all periods presented, unless otherwise stated. a. Basis of preparation of financial statements The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006. The Company's functional and presentational currency is the Pound Sterling. b. Revenue Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. ##### Rendering of services Revenue from a contract to provide services is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
| • | the amount of revenue can be measured reliably;
| • | it is probable that the Company​​​ will receive the consideration due under the transaction;
| • | the stage of completion of the contract at the end of the reporting period can be measured reliably; and
| • | the costs incurred or to be incurred in respect of the transaction can be measured reliably.
c. Taxation The tax expense for the period​ comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company ​​operates​ ​and generates​​ income.
### HNDC Ltd 2. Accounting policies (continued) c. Taxation (continued) Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
| • | The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
| • | Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. d. Tangible fixed assets Tangible fixed assets are initially recognised at cost. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Subsequently, tangible fixed assets are measured using the cost model. Under the cost model, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. All tangible fixed assets are considered to have a finite useful life. Depreciation is calculated to allocate the depreciable amount of tangible fixed assets to their residual values over their estimated useful lives on the following bases​:
Equipment | 25% | straight line
Office building | 10% | straight line
If factors such as a change in how an asset is used, technological advancement, or changes in market prices indicate that the residual value or useful life of an asset has changed since the most recent balance sheet date, the Company reviews its previous estimates and, if current expectations differ, amends the residual value, amortisation method or useful life, accounting for this as a change in an accounting estimate. e. Impairment of fixed assets Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
### HNDC Ltd 2. Accounting policies (continued) f. Provisions Provisions are made where an event has taken place that gives the Company​ a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of the amounts expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is charged to profit or loss. g. Financial instruments ##### Financial assets Financial assets are initially measured at transaction price, including transaction costs, and subsequently held at cost less accumulated impairment, or at amortised cost using the effective interest method in the case of debt instruments meeting the criteria for recognition as basic financial instruments. At each reporting date, financial assets are assessed for objective evidence of impairment with any impairment loss recognised in profit or loss. An impairment loss is calculated as the difference between the carrying amount and the best estimate of the recoverable amount which is an approximation of its sale value at the balance sheet date or, for basic debt instruments, the present value of estimated cash flows discounted at the asset’s original effective interest rate. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Financial assets are derecognised when:
| • | the contractual rights to the cash flows from the asset expire or are settled; or
| • | substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
| • | despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
##### Financial liabilities Basic financial liabilities, unless the arrangement constitutes a financing transaction, are initially measured at transaction price, including transaction costs. A financial liability, where the arrangement constitutes a financing transaction, is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument as determined at initial recognition adjusted for transaction costs. Basic financial liabilities are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when the liability is extinguished, either by way of the contractual obligation having been discharged, cancelled or expired.
### HNDC Ltd 2. Accounting policies (continued) h. Pensions The Company​​​ operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company​​​​ pays fixed contributions into a separate entity. Once the contributions have been paid the Company​​​​ has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown as accruals in the Statement of financial position. The assets of the scheme are held separately from the Company​​​​ in independently administered funds. 3. Employees The average number of employees, including the Director, during the period was as follows:
| 2025
--- | ---
| 2
4. Profit before taxation Profit before taxation is stated after charging:
| 2025 £
--- | ---
Depreciation of tangible assets | 514
5. Tangible fixed assets
| Office equipment £ | Office building £ | Total £
--- | --- | --- | ---
Cost |  |  |
Additions | 979 | 4,177 | 5,156
At 31 October 2025 | 979 | 4,177 | 5,156
Depreciation and impairment |  |  |
Charge for the period on owned assets | (62) | (453) | (515)
At 31 October 2025 | (62) | (453) | (515)
Net book value |  |  |
At 31 October 2025 | 917 | 3,724 | 4,641
### HNDC Ltd 6. Debtors
| 2025 £
--- | ---
Due within one year |
Debtors | 112,638
7. Creditors
| 2025 £
--- | ---
Trade creditors | 43,577
Corporation tax | 72,744
Other taxation and social security | 45,019
Other creditors | 537
Accruals and deferred income | 5,000
| 166,877
8. Share capital
|  | 2025 Number | 2025 £
--- | --- | --- | ---
Ordinary shares of | £1 each | 20 | 20
During the period, 20 Ordinary shares of £1.00 were issued at par to form the capital base of the company.