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Registration number: 12030897

Rainiko Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

Rainiko Ltd

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 7

Rainiko Ltd

(Registration number: 12030897)
Statement of Financial Position as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 8,096,288 | 7,645,288
Current assets |  |  |
Debtors | 5 | 2,185,846 | 1,950,479
Cash at bank and in hand |  | 29,521 | 663,352
|  | 2,215,367 | 2,613,831
Creditors: Amounts falling due within one year | 6 | (5,293) | (65,181)
Net current assets |  | 2,210,074 | 2,548,650
Net assets |  | 10,306,362 | 10,193,938
Capital and reserves |  |  |
Called up share capital | 7 | 110 | 110
Share premium reserve |  | 6,499,990 | 6,499,990
Profit and loss account |  | 3,806,262 | 3,693,838
Shareholders' funds |  | 10,306,362 | 10,193,938

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Rainiko Ltd

(Registration number: 12030897)
Statement of Financial Position as at 31 July 2025 (continued)

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 5 March 2026 and signed on its behalf by:

Dr Marc Jason Thomas Director
Dr Zhenni Wang Director

Rainiko Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4th Floor
The Quadrangle
Imperial Square
Cheltenham
Gloucestershire
GL50 1PZ

Principal activity

The principal activity of the company is the trade of provision of management and technical services relating to the production and sale of electricity.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Rainiko Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)

2 | Accounting policies (continued)

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.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Rainiko Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)

2 | Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 8,096,288 | 7,645,288

Subsidiaries | £
Cost or valuation
At 1 August 2024 | 8,096,288
Provision
Carrying amount
At 31 July 2025 | 8,096,288
At 31 July 2024 | 7,645,288

Rainiko Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)

4 | Investments (continued)

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Noriker Power Limited | England | Ordinary shares | 100% | 55%

5 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 48,000 | -
Amounts owed by related parties | 9 | 2,122,733 | 1,950,187
Other debtors |  | 12,449 | 292
Income tax asset |  | 2,664 | -
|  | 2,185,846 | 1,950,479

Rainiko Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 1,583 | -
Taxation and social security | - | 61,471
Accruals and deferred income | 3,710 | 3,710
| 5,293 | 65,181

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £0.01 each | 11,000 | 110 | 11,000 | 110

8 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

9 | Related party transactions

Transactions with subsidiaries
The company has taken advantage of the exemption provided by FRS 102 s33.1A whereby disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
The total amount due to Rainiko Limited at the balance sheet date from subsidiary undertakings was £2,122,733 (2024: £1,950,187).