REGISTERED NUMBER: 15448763 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

ELECTRONET CONSULTING UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Williams

S Merriman

H Croft

A Brantley

T Bateman

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

15448763 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Intangible assets

4

10,884

-

Tangible assets

5

3,771

3,117

14,655

3,117

CURRENT ASSETS

Debtors

6

80,853

22,947

Cash at bank

36,017

-

116,870

22,947

CREDITORS

Amounts falling due within one year

7

769,153

250,077

NET CURRENT LIABILITIES

(652,283

)

(227,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(637,628

)

(224,013

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(637,728

)

(224,113

)

SHAREHOLDERS' FUNDS

(637,628

)

(224,013

)

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 21 May 2026 and were signed on its behalf by:

S Merriman - Director

1.	STATUTORY INFORMATION

Electronet Consulting UK 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.

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.

The financial statements have been prepared on a going concern basis as Mitton ElectroNet Limited, the immediate parent company, will continue to support the company as required for a period in excess of 12 months and one day from the signing of the audit report.

Related party exemption

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.

Turnover

Turnover for the year comprises both intercompany revenue and external revenue.

Intercompany revenue represents amounts invoiced to the parent company in respect of time incurred on contracts undertaken in the name of the parent entity and is recognised when the related services have been performed.

External revenue arises from the provision of consultancy services within the energy sector and is recognised over time as services are delivered, measured by reference to time incurred in accordance with agreed contractual rates.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated life of 3 years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment - 3 year straight line basis

Financial instruments

Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2025 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

12,640

At 31 March 2026

12,640

AMORTISATION

Charge for year

1,756

At 31 March 2026

1,756

NET BOOK VALUE

At 31 March 2026

10,884

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

3,273

Additions

2,467

At 31 March 2026

5,740

DEPRECIATION

At 1 April 2025

156

Charge for year

1,813

At 31 March 2026

1,969

NET BOOK VALUE

At 31 March 2026

3,771

At 31 March 2025

3,117

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Amounts owed by group undertakings

24,105

-

Other debtors

56,748

22,947

80,853

22,947

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

4,094

45,637

Amounts owed to group undertakings

696,618

171,785

Taxation and social security

24,861

9,830

Other creditors & accruals

43,580

22,825

769,153

250,077

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

100

Ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Zara Porter (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

10.	ULTIMATE PARENT COMPANY

The immediate parent company is Mitton ElectroNet Limited, an entity registered in New Zealand and the ultimate parent company is Westpower Limited, incorporated in New Zealand with the registered office 146 Tainui Street, Greymouth 7805, New Zealand. The consolidated accounts can be found on the company's website: https://westpower.co.nz/disclosures/annual-reports.