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REGISTERED NUMBER: SC356464 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| ECOCEL LTD. |

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| ECOCEL LTD. |

COMPANY INFORMATION

for the year ended 31 DECEMBER 2025

| DIRECTORS: | A W Wiseman

| Mrs M Wiseman

| S D M McCall

| REGISTERED OFFICE: | Cadzow House High Parks Farm

| Barncluith Road

| Hamilton

| ML3 7UQ

| REGISTERED NUMBER: | SC356464 (Scotland)

| ACCOUNTANTS: | Thomas Barrie & Co LLP

| 4th Floor, Atlantic House

| 1a Cadogan Street

| Glasgow

| G2 6QE

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 662,528 |  | 722,758 |  |

CURRENT ASSETS

Debtors | 5 | 14,300 |  | 19,324 |  |

Cash at bank | 26,459 |  | 98,391 |  |

40,759 |  | 117,715 |  |

CREDITORS

Amounts falling due within one year | 6 | (23,889 | ) | (107,964 | ) |

NET CURRENT ASSETS | 16,870 |  | 9,751 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 679,398 |  | 732,509 |  |

PROVISIONS FOR LIABILITIES | (83,304 | ) | (84,727 | ) |

NET ASSETS | 596,094 |  | 647,782 |  |

CAPITAL AND RESERVES

Called up share capital | 900,000 |  | 900,000 |  |

Retained earnings | (303,906 | ) | (252,218 | ) |

596,094 |  | 647,782 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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.

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

STATEMENT OF FINANCIAL POSITION - continued

31 DECEMBER 2025

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 5 June 2026 and were signed on its behalf by:

A W Wiseman - Director

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Ecocel Ltd is a private company, limited by shares, registered in Scotland, registration number SC356464. The registered office is Cadzow House High Parks Farm, Barncluith Road, Hamilton, Scotland, ML3 7UQ.

| The principal activity of the company is renewable energy.

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 presentation currency of the financial statements is Pounds Sterling (£).

| Going concern

| These financial statements have been prepared on the going concern basis despite the fact that Statement of Financial Position is showing a net current liability position of the Company. The key driver for this are loans provided to the Company by the directors/shareholders and associated companies, which are all repayable on demand with no fixed terms of repayment. The directors do not intend to recall the loans within the next 12 months, hence going concern basis of the Company is considered to be appropriate.

| 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 where any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

| Significant judgements and estimates

| In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

| Plant and equipment

| The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes.

| Turnover

| Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

| Production of electricity

| Income is recognised in the period in which the electricity has been generated.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant and machinery etc | - | 5% on cost

| The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable.

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash balances.

| Creditors

| Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| Provisions

| Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance 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 statement of financial position date.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

| ECOCEL LTD. (REGISTERED NUMBER: SC356464) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,204,593 |  |

| DEPRECIATION

| At 1 January 2025 | 481,835 |  |

| Charge for year | 60,230 |  |

| At 31 December 2025 | 542,065 |  |

| NET BOOK VALUE

| At 31 December 2025 | 662,528 |  |

| At 31 December 2024 | 722,758 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 14,000 |  |

| Other debtors | 14,300 |  | 5,324 |  |

14,300 |  | 19,324 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | - |  | 100,000 |  |

| Taxation and social security | - |  | 5,213 |  |

| Other creditors | 23,889 |  | 2,751 |  |

23,889 |  | 107,964 |  |

7. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of Alan Energy Ltd, registered office at Cadzow House High Parks Farm, Barncluith Road, Hamilton, Lanarkshire, Scotland, ML3 7UQ.