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Registered number: 14891365 DRAGONS LANE BATTERY STORAGE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
DRAGONS LANE BATTERY STORAGE LIMITED COMPANY INFORMATION
Directors | P E Dias
| D R Goodwin
Registered number | 14891365
Registered office | Uk House
| 5th Floor, 164-182, Oxford Street
| London
| W1D 1NN
Independent auditors | Wilder Coe Ltd
| Chartered Accountants and Statutory Auditors
| 1st Floor Sackville House
| 143-149 Fenchurch Street
| London
| EC3M 6BL
DRAGONS LANE BATTERY STORAGE LIMITED CONTENTS
| Page
Balance Sheet | 1
Statement of Changes in Equity | 2
Notes to the Financial Statements | 3 - 8
DRAGONS LANE BATTERY STORAGE LIMITED REGISTERED NUMBER: 14891365 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | As restated 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 4,663,824 |  | 15,244
Current assets |  |  |  |  |
Debtors | 5 | 740,120 |  | 192,283 |
Cash at bank and in hand |  | 158,144 |  | - |
|  | 898,264 |  | 192,283 |
Creditors: amounts falling due within one year | 6 | (5,843,715) |  | (224,189) |
Net current liabilities |  |  | (4,945,451) |  | (31,906)
Net liabilities |  |  | (281,627) |  | (16,662)
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital |  |  | 1 |  | 1
Retained losses |  |  | (281,628) |  | (16,663)
Equity shareholder's deficit |  |  | (281,627) |  | (16,662)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 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 Directors' Report and the Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies' regime, under section 444 of the Companies Act 2006. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2026.
P E Dias
Director
The notes on pages 3 to 8 form part of these financial statements. Page 1
DRAGONS LANE BATTERY STORAGE LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
Loss for the period | - | (16,663) | (16,663)
Shares issued during the period | 1 | - | 1
At 31 March 2024 and 1 April 2024 | 1 | (16,663) | (16,662)
Loss for the year | - | (264,965) | (264,965)
At 31 March 2025 | 1 | (281,628) | (281,627)
| The notes on pages 3 to 8 form part of these financial statements.
Page 2
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Dragons Lane Battery Storage Limited (Company number: 14891365) is a private company, limited by shares, incorporated and domiciled in England. The address of the company's registered office and principal place of business is UK House, 5th Floor, 164-182, Oxford Street, London, England, W1D 1NN. The principal activity of the company during the period under review was the distribution of electricity using solar technology, although the plant is in the under construction phase and no activity was carried out during the period. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Statement of cash flows
The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.
| 2.3 | Going concern
As at 31 March 2025, the Company has net liabilities of £281,627 (period ended 31 March 2024: £16,662) and generated a loss of £264,965 during the year ended 31 March 2025 (period ended 31 March 2024: £16,663). The financial statements have been prepared on a going concern basis as the parent company has committed to providing financial funding support for at least the next twelve months from the date of the signing of these financial statements. The parent will not require repayment until the Company is able to do so without jeopardising the continuation of its trading operations.
| 2.4 | Finance costs
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 3
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Taxation
Tax is recognised in the Statement of Comprehensive Income. The current corporation 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. 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; and ∙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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
| 2.6 | Assets under construction policy
During the financial year, the company has continued the development of the photovoltaic project, capitalising costs directly attributable to the construction and commissioning of the facility. The capitalised costs include: ∙Project Management Fees ∙Grid Connection ∙Development Costs The capitalised amounts have been recorded and will be reclassified to the corresponding fixed asset accounts once the plant becomes operational. This accounting policy has been applied to appropriately reflect the investment made and ensure that the financial statements faithfully represent the company's financial position. Depreciation charged on the asset commences when the asset is ready for its intended use. The residual values, if not insignificant, and remaining useful lives are reassessed at each reporting date. When parts of an item of tangible fixed have different useful lives, those components are accounted for as separate items of tangible fixed assets. An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds received with the carrying amount and are recognised within other income/(expenditure) in the Statement of Comprehensive Income.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 4
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Financial instruments
The Company has chosen to apply Sections 11 and 12 of FRS 102 in respect of all of its financial instruments. The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties. Financial assets Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets’ original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income. 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 the Statement of Comprehensive Income. Financial assets are derecognised when (i) the contractual rights to the cash flows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (iii) 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. Page 5
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Financial liabilities Basic financial liabilities, including trade and other payables and loans from related parties, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Assets under construction
|  | £
| Cost |
| At 1 April 2024 | 15,244
| Additions | 4,648,580
| At 31 March 2025 | 4,663,824
| Net book value |
| At 31 March 2025 | 4,663,824
| At 31 March 2024 as restated | 15,244
Page 6
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within One Year |  |
| Amounts owed by group undertakings | - | 188,432
| Other debtors | 688,405 | 3,851
| Prepayments and accrued income | 51,715 | -
|  | 740,120 | 192,283
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | As restated 2024
|  |  |  |  | £ | £
| Trade creditors | 100 | 216,039
| Amounts owed to group undertakings | 5,829,905 | -
| Accruals and deferred income | 13,710 | 8,150
|  | 5,843,715 | 224,189
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1.00 | 1 | 1
8. | Restatement
The prior period comparatives have been restated to derecognise loan draw downs and related assets and income which had been incorrectly recorded in the prior period financial statements. The loan at year end is appropriately valued. The effect of this on the primary statements is a £570,655 decrease of creditors, a £1,040 increase in debtors and a £571,695 decrease in fixed assets. There is no impact on the profit and loss as a result of the restatement.
9. | Related party transactions
| The Company has taken advantage of the exemption available in accordance with Section 33 of Financial Reporting Standard 102, not to disclose transactions entered into between two or more members of the group, as the Company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.
Page 7
DRAGONS LANE BATTERY STORAGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Controlling party
The immediate parent company is Sky Battery Holdings Limited; a company incorporated in England and Wales. The registered office of Sky Battery Holdings Limited is UK House 5th Floor, 164-182, Oxford Street, London, England, W1D 1NN. The Company's ultimate parent undertaking is Octopus Renewables Infrastructure ScSp, a company incorporated in Luxembourg.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 12 March 2026 by Caryl King BSc ACA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.
Page 8