REGISTERED NUMBER: 07444253 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

THE STREET BY STREET SOLAR PROGRAMME

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R M Armour

K W Yu

REGISTERED OFFICE:

1 Benjamin Street

London

EC1M 5QL

REGISTERED NUMBER:

07444253 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

1,683,982

1,942,398

CURRENT ASSETS

Stocks

2,500

5,000

Debtors

5

349,112

88,697

Investments

6

1,358,628

1,065,993

Cash at bank

428,580

672,383

2,138,820

1,832,073

CREDITORS

Amounts falling due within one year

7

928,475

840,739

NET CURRENT ASSETS

1,210,345

991,334

TOTAL ASSETS LESS CURRENT LIABILITIES

2,894,327

2,933,732

CREDITORS

Amounts falling due after more than one year

8

3,706,074

3,849,060

NET LIABILITIES

(811,747

)

(915,328

)

CAPITAL AND RESERVES

Called up share capital

3,334

3,334

Share premium

157

157

Capital redemption reserve

1,667

1,667

Retained earnings

(816,905

)

(920,486

)

(811,747

)

(915,328

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 22 June 2026 and were signed on its behalf by:

K W Yu - Director

1.	STATUTORY INFORMATION

The Street By Street Solar Programme 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The company has net liabilities at the balance sheet date and has made recurring losses over the years. The directors confirm that they still consider that the going concern basis remains appropriate because it is their judgement that the company has the support of its creditors and that this support will continue for the foreseeable future. The company also has access to short term investment balances.

Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

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

Turnover is generated from the feed in tariff ("FiT") government scheme associated with electricity exported to the grid. The income is recognised net of VAT when the electricity is physically exported.

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 etc

-

5% on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Debtors

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

Creditors

Short term creditors are measured at the transaction price

Cash and cash equivalents

Cash is represented by cash in hand with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 December 2024

5,103,414

Disposals

(10,520

)

At 30 November 2025

5,092,894

Depreciation

At 1 December 2024

3,161,016

Charge for year

255,172

Eliminated on disposal

(7,276

)

At 30 November 2025

3,408,912

Net book value

At 30 November 2025

1,683,982

At 30 November 2024

1,942,398

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

306,662

-

Other debtors

42,450

88,697

349,112

88,697

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

1,358,628

1,065,993

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

44,055

5,242

Taxation and social security

1,200

1,050

Other creditors

883,220

834,447

928,475

840,739

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

3,706,074

3,849,060

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

2,637,633

2,877,084

The company issued £5,000,000 loan notes for £3,333,000, a discount of 33.34%. The interest rate payable is 9.5% per annum. The loan notes are repayable in instalments over a period of 20 years, commencing 5 years after the date of issue. The discount is being charged to the profit and loss account on a straight line basis over the 25 year term of the loan stock.

In addition, the company has issued a £200,000 variable rate loan note at par. The interest rate payable is 92% of the company's free cash flow (after interest and capital redemption payments on the discounted loan note) and is charged to the profit and loss account when payments are made. The loan note is repayable by 31 January 2039.

There are also other loans totalling £660,487. These loan notes are repayable over 180 months commencing from the 17th month of draw down and attract interest at 6% per annum.

The loan notes are secured on the assets of the company.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company had loan balances outstanding with its shareholders totalling £3,915,738 (2024: £4,039,739). See note 8 for further details. During the year, the company incurred interest charges of £398,385 (2024: £417,758) and a discounting charge of £66,680 (2024: £66,680) on the shareholder loans.

During the year, the company incurred monitoring fees with Albion Capital Group LLP, a related party, at a cost of £16,412 (2024: £15,585). There were no outstanding balances at the balance sheet date £nil (2024: £nil).