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REGISTERED NUMBER: 12709278 (England and Wales)

Financial Statements for the Year Ended 30 June 2025

for

H.Evason Ltd

H.Evason Ltd (Registered number: 12709278)

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

H.Evason Ltd

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | A F Moss

| L S Talbot

| M Evason

| REGISTERED OFFICE: | Site 7, Meriden Park Cornets End Lane

| Meriden

| Coventry

| CV7 7LG

| REGISTERED NUMBER: | 12709278 (England and Wales)

| AUDITORS: | Thornton Springer LLP

| Chartered Accountants and

| Statutory Auditor

| 67 Westow Street

| London

| SE19 3RW

H.Evason Ltd (Registered number: 12709278)

Balance Sheet

30 June 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 35,597 |  | 39,468 |  |

CURRENT ASSETS

Stocks | 141,206 |  | - |  |

Debtors | 6 | 835,395 |  | 901,528 |  |

Cash at bank and in hand | 17,300 |  | 47,275 |  |

993,901 |  | 948,803 |  |

CREDITORS

Amounts falling due within one year | 7 | (1,450,279 | ) | (1,080,939 | ) |

NET CURRENT LIABILITIES | (456,378 | ) | (132,136 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (420,781 | ) | (92,668 | ) |

CREDITORS

Amounts falling due after more than one year | 8 | (36,090 | ) | (93,638 | ) |

NET LIABILITIES | (456,871 | ) | (186,306 | ) |

CAPITAL AND RESERVES

Called up share capital | 10 | 1 |  | 1 |  |

Retained earnings | (456,872 | ) | (186,307 | ) |

SHAREHOLDERS' FUNDS | (456,871 | ) | (186,306 | ) |

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2026 and were signed on its behalf by:

L S Talbot - Director

H.Evason Ltd (Registered number: 12709278)

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| H.Evason 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

| 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

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 20% on cost and 15% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

H.Evason Ltd (Registered number: 12709278)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

3. | ACCOUNTING POLICIES - continued

| Going concern

| The financial accounts have been prepared on a going concern basis; the company recognises there is an in-year loss in 24/25 but a healthy 12 month forecast of PowerX group has been reviewed by the directors for 2026. The Management Team continue to be cost efficient by careful consideration of overheads. The Management Team have a scheduled review on a monthly basis and utilise this time to review past performance, refine forecast for upcoming months and to review current projects. The industry the company operates within has been fortunate enough to continue operating in these challenging times due to environmental factors. The directors also believe the company is a going concern as the entity will continue to meet all financial obligations as they fall due and group support will be available if needed. With the increased business within the quarry sector and the comfort of group support, the directors consider the company to be going concern.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 1 ) .

5. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |

| property |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024 | 13,895 |  | 26,318 |  | 2,146 |  | 42,359 |  |

| Additions | - |  | 1,830 |  | 2,046 |  | 3,876 |  |

| At 30 June 2025 | 13,895 |  | 28,148 |  | 4,192 |  | 46,235 |  |

| DEPRECIATION

| At 1 July 2024 | 993 |  | 1,419 |  | 479 |  | 2,891 |  |

| Charge for year | 1,985 |  | 5,063 |  | 699 |  | 7,747 |  |

| At 30 June 2025 | 2,978 |  | 6,482 |  | 1,178 |  | 10,638 |  |

| NET BOOK VALUE

| At 30 June 2025 | 10,917 |  | 21,666 |  | 3,014 |  | 35,597 |  |

| At 30 June 2024 | 12,902 |  | 24,899 |  | 1,667 |  | 39,468 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | 190,898 |  | 262,197 |  |

| Amounts owed by group undertakings | 533,711 |  | 534,103 |  |

| Other debtors | 110,786 |  | 105,228 |  |

835,395 |  | 901,528 |  |

H.Evason Ltd (Registered number: 12709278)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Hire purchase contracts | 57,549 |  | 48,670 |  |

| Trade creditors | 55,007 |  | 72,010 |  |

| Amounts owed to group undertakings | 742,725 |  | 332,437 |  |

| Taxation and social security | 393,892 |  | 415,824 |  |

| Other creditors | 201,106 |  | 211,998 |  |

1,450,279 |  | 1,080,939 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Hire purchase contracts | 36,090 |  | 93,638 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.6.25 |  | 30.6.24

£ | £ |

| Hire purchase contracts | 93,639 |  | 142,308 |  |

| Hire purchase contracts are secured against the related assets.

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Zahid Saleem FCCA ACA (Senior Statutory Auditor)

| for and on behalf of Thornton Springer LLP

12. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

H.Evason Ltd (Registered number: 12709278)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

13. | ULTIMATE PARENT COMPANY

| The parent company during the financial year is Evason Environmental Holdings Limited, a company incorporated in England and Wales.

| These financial statements have been consolidated in the financial statements of PowerX Holdings Limited (Ultimate parent company). The consolidated financial statements can be obtained from Site 7, Meriden Park, Cornets End lane, Coventry, CV7 7LG.

| Mr. A Moss and Mr. L Talbot are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.