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REGISTERED NUMBER: 08104799 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Riverside Bio Limited

| Riverside Bio Limited (Registered number: 08104799) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 4 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Statement of Financial Position | 10 |

| Statement of Changes in Equity | 11 |

| Notes to the Financial Statements | 12 |

| Riverside Bio Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | S J Matthews

| S J A Blackburn

| REGISTERED OFFICE: | 10 Osier Way

| Mitcham

| Surrey

| CR4 4NF

| REGISTERED NUMBER: | 08104799 (England and Wales)

| AUDITORS: | Hardcastle Burton LLP

| Lake House

| Market Hill

| Royston

| Hertfordshire

| SG8 9JN

| Riverside Bio Limited (Registered number: 08104799) |

Report of the Directors

for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of producing electricity.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors who have held office during the period from 1 April 2024 to the date of this report are as follows:

S J Matthews - appointed 20 July 2024

C Gregory - resigned 20 December 2024

C Holmes - resigned 19 July 2024

S J A Blackburn was appointed as a director after 31 March 2025 but prior to the date of this report.

J B Williams and S Trivellato ceased to be directors after 31 March 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

| Riverside Bio Limited (Registered number: 08104799) |

Report of the Directors

for the Year Ended 31 March 2025

AUDITORS

The auditors, Hardcastle Burton LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S J Matthews - Director

21 May 2026

Report of the Independent Auditors to the Members of

Riverside Bio Limited

Opinion

We have audited the financial statements of Riverside Bio Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Riverside Bio Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Riverside Bio Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach was as follows:-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that related to the reporting framework (FRS 102 and Companies Act 2006) and the relevant tax compliance regulations in the jurisdictions that the company operates.

In addition, we concluded that there are certain significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements being those relating to the environment and occupational health and safety.

We obtained an understanding to how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of Board minutes and any correspondence received from regulatory bodies.

We assessed the susceptivity of the company's financial statements to material misstatement, including how fraud might occur by meeting with management from various parts of the business to understand the systems and controls of the company.

In assessing the risks of irregularities due to fraud, we considered the areas in which such risks were most likely to arise. We identified management override of controls as a presumed fraud risk and the valuation of tangible assets as the area most susceptible to material misstatement due to its inherent estimation uncertainty and the level of judgement involved.

Our audit procedures in response included:

- evaluating the methodologies, key assumptions and inputs used by management in the valuation of the tangible assets;

- assessing the reasonableness of significant estimates;

- considering indicators of management bias in the formulation of these estimates; and

- performing targeted journal entry testing.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Riverside Bio Limited

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.

Kristi Johnson ACA CTA (Senior Statutory Auditor)

for and on behalf of Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

22 May 2026

| Riverside Bio Limited (Registered number: 08104799) |

Income Statement

for the Year Ended 31 March 2025

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

| Notes | £ | £ |

TURNOVER | 3 | 7,431,922 |  | 14,143,482 |  |

Cost of sales | 9,358,383 |  | 12,936,777 |  |

GROSS (LOSS)/PROFIT | (1,926,461 | ) | 1,206,705 |  |

Administrative expenses | 93,698 |  | 92,879 |  |

(2,020,159 | ) | 1,113,826 |  |

Other operating income | - |  | 12,278 |  |

OPERATING (LOSS)/PROFIT | 5 | (2,020,159 | ) | 1,126,104 |  |

Interest receivable and similar income | - |  | 10,488 |  |

(2,020,159 | ) | 1,136,592 |  |

Interest payable and similar expenses | 6 | 341,332 |  | 570,298 |  |

(LOSS)/PROFIT BEFORE TAXATION | (2,361,491 | ) | 566,294 |  |

Tax on (loss)/profit | 7 | (565,644 | ) | 29,026 |  |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (1,795,847 | ) | 537,268 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Other Comprehensive Income

for the Year Ended 31 March 2025

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

| Notes | £ | £ |

(LOSS)/PROFIT FOR THE YEAR | (1,795,847 | ) | 537,268 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (1,795,847 | ) | 537,268 |  |

| Note

Prior year adjustment | 9 | (328,910 | ) | (203,216 | ) |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | (2,124,757 | ) | 334,052 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Statement of Financial Position

31 March 2025

| 31.3.25 | 31.3.24 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 5,706,764 |  | 5,750,125 |  |

CURRENT ASSETS

Stocks | 11 | 55,126 |  | 55,126 |  |

Debtors | 12 | 2,519,225 |  | 3,169,830 |  |

Cash at bank | 669,899 |  | 246,399 |  |

3,244,250 |  | 3,471,355 |  |

CREDITORS

Amounts falling due within one year | 13 | 1,910,833 |  | 1,807,151 |  |

NET CURRENT ASSETS | 1,333,417 |  | 1,664,204 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,040,181 |  | 7,414,329 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (5,131,654 | ) | (3,229,606 | ) |

PROVISIONS FOR LIABILITIES | 17 | (1,071,594 | ) | (1,551,943 | ) |

NET ASSETS | 836,933 |  | 2,632,780 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 45,000 |  | 45,000 |  |

Retained earnings | 19 | 791,933 |  | 2,587,780 |  |

SHAREHOLDERS' FUNDS | 836,933 |  | 2,632,780 |  |

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 J Matthews - Director

| Riverside Bio Limited (Registered number: 08104799) |

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2022 | 45,000 |  | 2,653,728 |  | 2,698,728 |  |

Prior year adjustment | - |  | (203,216 | ) | (203,216 | ) |

As restated | 45,000 |  | 2,450,512 |  | 2,495,512 |  |

Changes in equity

Dividends | - |  | (400,000 | ) | (400,000 | ) |

Total comprehensive income | - |  | 866,178 |  | 866,178 |  |

Balance at 31 March 2024 | 45,000 |  | 2,916,690 |  | 2,961,690 |  |

Prior year adjustment | - |  | (328,910 | ) | (328,910 | ) |

As restated | 45,000 |  | 2,587,780 |  | 2,632,780 |  |

Changes in equity

Total comprehensive income | - |  | (1,795,847 | ) | (1,795,847 | ) |

Balance at 31 March 2025 | 45,000 |  | 791,933 |  | 836,933 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Riverside Bio Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements for the year ended 31 March 2025 have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 33.7.

| Significant judgements and estimates

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Critical judgements

| The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

| Tangible fixed assets

| Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.

| Stock provisions

| Spare parts equipment is carried as stock and recognised in the profit and loss as consumed where these arc not categorised as major spare parts. Where spare parts are considered to be major and expected to be used during more than one financial period they are accounted for as tangible fixed assets.

| Decommissioning provision

| As part of the measurement and recognition of assets and liabilities in the period, the company has recognised a provision for the decommissioning obligations associated with the anaerobic digestion plant. In determining the present value of the provision, assumptions and estimates are made in relation to the discount rates, the expected cost to dismantle and remove the plant from the site and the expected timing of these costs, and this data is compared to industry available data. The discount rate applied was 5.13%.

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Government schemes including the Non-Domestic Renewable Heat Incentive and Feed-in Tariff are received as part of the company's principal activity of producing renewable energy. This is recognised as turnover when there is reasonable assurance that the conditions have been met and the income will be received.

| 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 |  | - Straight line over 5 - 20 years |  |

| - 15% reducing balance |  |

| Decommissioning provision |  | - in accordance with the lease term |  |

| Assets under construction are not depreciated until the asset is brought in to use, at which point it is transferred to the appropriate category of assets.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| Impairment of fixed assets

| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally 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.

| Basic financial assets

| Basic financial assets, which include trade debtors, amounts owed by group undertakings, other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| 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 statement of financial position date.

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

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

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Comparatives

| The comparative period figures relate to the 18-month period ended 31 March 2024 and are therefore not directly comparable with the current period.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. | TURNOVER

| The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Production of renewable energy | 7,431,922 |  | 14,143,482 |  |

7,431,922 |  | 14,143,482 |  |

| Turnover is attributable to alternative energy production and waste management, and all arises in the United Kingdom. Turnover is the total amount receivable in the ordinary course of business from customers for goods supplied as a principal and for services provided.

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | EMPLOYEES AND DIRECTORS

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Wages and salaries | 1,405,838 |  | 2,358,416 |  |

| Social security costs | 140,618 |  | 259,234 |  |

| Other pension costs | 24,308 |  | 69,103 |  |

1,570,764 |  | 2,686,753 |  |

| The average number of employees during the year was as follows:

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

| Admin | - |  | 2 |  |

| Operations | 28 |  | 30 |  |

28 |  | 32 |  |

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Directors' remuneration | - |  | - |  |

5. | OPERATING (LOSS)/PROFIT

| The operating loss (2024 - operating profit) is stated after charging:

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Depreciation - owned assets | 498,518 |  | 661,968 |  |

| Depreciation - assets on hire purchase contracts | 17,499 |  | 5,441 |  |

| Auditors' remuneration | 33,940 |  | 14,475 |  |

| Hire of plant and machinery | 50,918 |  | 49,487 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Interest payable | 296,587 |  | 477,605 |  |

| Finance cost on discounted provision | 26,401 |  | 34,984 |  |

| Other interest payable | 9,169 |  | - |  |

| Hire purchase | 9,175 |  | 57,709 |  |

341,332 |  | 570,298 |  |

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the loss for the year was as follows:

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 34,246 |  | (23,689 | ) |

| Deferred tax | (599,890 | ) | 52,715 |  |

| Tax on (loss)/profit | (565,644 | ) | 29,026 |  |

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| (Loss)/profit before tax | (2,361,491 | ) | 566,294 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | (590,373 | ) | 141,574 |  |

| Effects of:

| Expenses not deductible for tax purposes | 40,817 |  | 1,410 |  |

| Income not taxable for tax purposes | (16,088 | ) | (36,957 | ) |

| Group relief | - |  | (77,001 | ) |

| Total tax (credit)/charge | (565,644 | ) | 29,026 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | DIVIDENDS

| Period

| 1.10.22

| Year Ended |  | to

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Ordinary shares of £1 each

| Final | - |  | 400,000 |  |

9. | PRIOR YEAR ADJUSTMENT

| The comparative financial statements have been restated to correct a prior-period error. The financial statements for the year ended 31 March 2024 were previously prepared under FRS 102 Section 1A. The directors have since concluded that the company did not qualify as a small entity for that period and therefore should have applied full FRS 102. The error has been corrected retrospectively and comparative figures have been restated to conform with the presentation and disclosure requirements of full FRS 102.

| The transition from Section 1A to full FRS 102 did not impact the recognition or measurement of assets, liabilities, income or expenses.

| A prior year adjustment of £58,966 has been made to the comparative figures to include an accrual for wages which was omitted in the prior year.

| A prior year adjustment of £269,941 has been made to include a provision for decommissioning the AD plant at the end of the current lease in accordance with the requirements in the lease agreement. As a result, the following adjustments have been made to the comparative figures:

| - Plant and machinery net book value increased by £244,694

| - Provisions increased by £514,635

| - Accruals increased by £58,966

| - Retained earnings decreased by £328,907

10. | TANGIBLE FIXED ASSETS

| Assets |

| under |  | Plant and |

| construction |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 345,876 |  | 8,752,895 |  | 9,098,771 |  |

| Additions | 57,643 |  | 415,013 |  | 472,656 |  |

| Reclassification/transfer | (403,519 | ) | 403,519 |  | - |  |

| At 31 March 2025 | - |  | 9,571,427 |  | 9,571,427 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 3,348,646 |  | 3,348,646 |  |

| Charge for year | - |  | 516,017 |  | 516,017 |  |

| At 31 March 2025 | - |  | 3,864,663 |  | 3,864,663 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 5,706,764 |  | 5,706,764 |  |

| At 31 March 2024 | 345,876 |  | 5,404,249 |  | 5,750,125 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | TANGIBLE FIXED ASSETS - continued

| Plant and machinery includes a decommissioning provision (see note 16) with a net book value of £311,558 (2024 as restated: £244,691).

| Included in the above amounts are assets held under hire purchase agreements with a net book value of £198,297 (2024: £95,220). Depreciation of £17,499 (2024: £5,441) was charged on these assets during the period.

11. | STOCKS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Stocks | 55,126 |  | 55,126 |  |

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Trade debtors | 845,180 |  | 1,734,484 |  |

| Amounts owed by group undertakings | 569,691 |  | - |  |

| Other debtors | 347,092 |  | 73,313 |  |

| Tax | 54,036 |  | 88,382 |  |

| Prepayments and accrued income | 703,226 |  | 1,273,651 |  |

2,519,225 |  | 3,169,830 |  |

| Included in trade debtors is an invoice financing facility amounting to £731,139 (2024: £1,348,223).

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Other loans (see note 15) | 248,950 |  | - |  |

| Hire purchase contracts (see note 16) | 42,005 |  | 19,324 |  |

| Trade creditors | 1,090,059 |  | 1,141,119 |  |

| Amounts owed to group undertakings | - |  | 384,581 |  |

| Social security and other taxes | 28,276 |  | 30,727 |  |

| Other creditors | 3,831 |  | 5,385 |  |

| Accruals and deferred income | 497,712 |  | 226,015 |  |

1,910,833 |  | 1,807,151 |  |

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Hire purchase contracts (see note 16) | 113,408 |  | 46,236 |  |

| Amounts owed to group undertakings | 5,018,246 |  | 3,183,370 |  |

5,131,654 |  | 3,229,606 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

15. | LOANS

| An analysis of the maturity of loans is given below:

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Amounts falling due within one year or on demand:

| Other loans | 248,950 |  | - |  |

| Other loans include £248,950 (2024: £Nil) owed as part of an invoice factoring facility. Invoice finance is secured by a fixed and floating charge over the company's assets, and interest is charged at 6.75% on amounts owed.

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.3.25 |  | 31.3.24 |

| as restated |

£ | £ |

| Net obligations repayable:

| Within one year | 42,005 |  | 19,324 |  |

| Between one and five years | 113,408 |  | 46,236 |  |

155,413 |  | 65,560 |  |

| Non-cancellable |

| operating leases |

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Within one year | 280,098 |  | 262,599 |  |

| Between one and five years | 1,209,324 |  | 1,165,140 |  |

| In more than five years | 1,341,868 |  | 2,000,320 |  |

2,831,290 |  | 3,428,059 |  |

17. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 1,070,781 |  | 1,037,308 |  |

| Tax losses carried forward | (632,368 | ) | - |  |

| Other timing differences | (995 | ) | - |  |

| Decommissioning provision | 634,176 |  | 514,635 |  |

1,071,594 |  | 1,551,943 |  |

| Riverside Bio Limited (Registered number: 08104799) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

17. | PROVISIONS FOR LIABILITIES - continued

| Deferred |  | Other |

| tax |  | provisions |

£ | £ |

| Balance at 1 April 2024 | 1,037,308 |  | 514,635 |  |

| Provided during year | 33,473 |  | 93,140 |  |

| Unwinding of discounted amount | - |  | 26,401 |  |

| Credit to Income Statement during year | (633,363 | ) | - |  |

| Balance at 31 March 2025 | 437,418 |  | 634,176 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: |  | as restated |

£ | £ |

| 45,000 | Ordinary | £1 | 45,000 |  | 45,000 |  |

19. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 2,916,690 |  |

| Prior year adjustment | (328,910 | ) |

2,587,780 |  |

| Deficit for the year | (1,795,847 | ) |

| At 31 March 2025 | 791,933 |  |

20. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Foresight Environmental Infrastructure (UK) Limited, incorporated in England and Wales.

| The company's immediate parent is Bio Collectors Holdings Limited, incorporated in England and Wales.

| The ultimate parent is Foresight Environmental Infrastructure Limited, incorporated in Guernsey, Channel Islands.

| The parent of the smallest group in which these financial statements are consolidated is Bio Collectors Holdings Limited, incorporated in England and Wales. The address of Bio Collectors Holdings Limited is: 10 Osier Way, Mitcham, Surrey, CR4 4NF.