| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Zero Petroleum Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Zero Petroleum Limited |
| Zero Petroleum Limited (Registered number: 11911847) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Zero Petroleum Limited |
| Company Information |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1st Floor |
| One Suffolk Way |
| Sevenoaks |
| Kent |
| TN13 1YL |
| Zero Petroleum Limited (Registered number: 11911847) |
| Balance Sheet |
| 31 March 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Share premium | 13 |
| Advanced Share Subscriptions | 13 |
| Other Reserves | 13 |
| Retained earnings | 13 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Zero Petroleum Limited (Registered number: 11911847) |
| Balance Sheet - continued |
| 31 March 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Zero Petroleum Limited (Registered number: 11911847) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| Zero Petroleum Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes recognised in line with milestone completions. |
| 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. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| 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. |
| Zero Petroleum Limited (Registered number: 11911847) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Going concern |
| The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts. |
| Significant judgements and estimates |
| In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and | Development | Computer |
| licences | costs | software | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 |
| AMORTISATION |
| At 1 April 2025 |
| Amortisation for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Zero Petroleum Limited (Registered number: 11911847) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2025 |
| Additions |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 | 730,371 |
| NET BOOK VALUE |
| At 31 March 2026 | 730,371 |
| At 31 March 2025 | 730,371 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: 100 Wilshire Blvd, Santa Monica, CA 90401, United States of America |
| Nature of business: |
| % |
| Class of shares: | holding |
| Associated company |
| Registered office: 4 Broad Street, Kirkwall, Scotland, KW15 1NX |
| Nature of business: |
| % |
| Class of shares: | holding |
| Zero Petroleum Limited (Registered number: 11911847) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 7. | DEBTORS |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Other debtors |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Other creditors |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2026 | 2025 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | PROVISIONS FOR LIABILITIES |
| 2026 | 2025 |
| £ | £ |
| Deferred tax | 673,340 | 759,614 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2025 |
| Provided during year | ( |
) |
| Balance at 31 March 2026 |
| Zero Petroleum Limited (Registered number: 11911847) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2026 | 2025 |
| value: | £ | £ |
| Ordinary | 0.000 | 1 | 177 | 127 |
| 13. | RESERVES |
| Advanced |
| Retained | Share | Share | Other |
| earnings | premium | Subscriptions | Reserves | Totals |
| £ | £ | £ | £ | £ |
| At 1 April 2025 | ( |
) | 4,955,427 |
| Deficit for the year | ( |
) | ( |
) |
| Share issue |
| Advanced Share Subscriptions | - | - | 250,000 | - | 250,000 |
| At 31 March 2026 | ( |
) | 6,542,336 |
| Other Reserves is in relation to consideration for shares received within the financial year, not written up until after the year end. They have been reflected within capital and reserves, as ultimately, they are equity in nature. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is P A Lowe. |
| 15. | SHARE BASED PAYMENTS |
| The company operates an employee share option scheme. Since the initial grant date, movements in the scheme have resulted in a valuation that is considered immaterial in nature. Management has assessed the impact of the scheme and concluded that recognition in the annual financial statements is not required, as no economic benefit would arise. |