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Registered number: 13342675
IDUNA OMA LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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IDUNA OMA LIMITED
REGISTERED NUMBER: 13342675
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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IDUNA OMA LIMITED
REGISTERED NUMBER: 13342675
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 14 form part of these financial statements.
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IDUNA OMA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Shares redeemed during the year
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The notes on pages 4 to 14 form part of these financial statements.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Iduna OMA Limited (company number 13342675) is a private company, limited by shares, incorporated and domiciled in England and Wales with a registered office and principal place of business at C/O Indigo Goverance, Vincent Court, Ground Floor, 853-855 London Road, Westcliff-On-Sea, Essex, United Kingdom, SS0 9SZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The company has early adopted the amendments introduced by FRED 82 (Draft amendments to FRS 102 – Periodic Review 2024) from 01/01/2025, including the revised requirements relating to revenue recognition and leases. These amendments have been applied consistently to all periods presented, except where transitional reliefs permitted by FRS 102 have been elected.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis as the directors believe the company has access to sufficient resources to be able to carry out its activities.
During 2024 the Iduna Infrastructure Group secured a debt facility of up to £55m from Natwest Bank and KfW IPEX-Bank. This was secured by Iduna EVCI Asset Co 1 Limited, which is a fellow subsidiary of the Iduna Infrastructure group. The debt facility includes a mechanism whereby the following year’s commitment is reviewed at the end of each year, to ensure that the group is managed within its financial facilities. This facility is available to be drawn down at the company level. As at 31 December 2025, tranches of £36m of this facility had been drawn down. The full £55m is scheduled to be drawn by 31 December 2026.
During 2025, Iduna Infrastructure Limited, the holding company of the Iduna Infrastructure group (“the Group”), secured funding in the form of loan notes from Sky EV Charging Holdco Limited of up to £16.5m that can be drawn down in tranches. As at the date of this report, £14.0m had been drawn down with one further tranche forecast during October 2026. Beyond this the group is self funded thorough its operations.
Management have considered several factors in their assessment of going concern. These include important factors such as the selling price, utilisation of the network, rate of installation, competitor pricing, electricity price inflation, supply chain inflation, IT requirements, capital expenditure per charger and staff expansion costs.
These factors are also set in the context of the wholesale electricity price volatility, forecasted rates of inflation, further impacts from global conflicts and the Electric vehicle ownership levels. Whilst an extreme movement of one of these factors could result in a change in forecast cash need, the funding currently available would never be exceeded in the next 12 months. The business has performed working capital phasing checks and reasonable worst case scenario sensitivity analysis calculations. This includes reduction to the selling price, increase to the cost of electricity and a reduction in utilization due to a decrease in Electric vehicle ownership growth or increase in competitors.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Going concern (continued)
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An important factor for the business is that its cash requirements are a result of its capital expenditure need for expansion. Should any cash reserves become unpredictably constrained, there is the option for the business to control and slow its expansion to conserve the necessary cash and bridge the shortfall. Management can demonstrate that either enough cash is available to continue, or that there would be a controllable reaction to conserve cash from capital investment to continue funding losses.
All companies within the Iduna Infrastructure group have committed to providing mutual support in allocating working capital across the group to support the operations of each individual group company. The Group's forecasts and projections, taking account of reasonable possible changes in trading performance, show that the Group is dependent on the above finance being made available to the Group by the lenders during the 2026 year.
After making enquiries and based on the financial support confirmed by the lenders, the Directors have a reasonable expectation that the Company and Group have adequate resources to continue in operation existence for the foreseeable future. The Company and Group therefore have concluded that no material uncertainty exists in the current climate in respect of going concern.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
The entity adopted the amended Section 23 "Revenue from contracts with customers". In adopting section 23 of FRS102, there has been no changes to the comparative information.
Revenue is recognised in accordance with Section 23 of FRS 102, Revenue from Contracts with Customers, using a single, principles-based five-step model to account for revenue arising from contracts with customers.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Leased assets: the Company as lessee
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The company has adopted the revised Section 20 "Leases" of FRS 102 from 1 January 2025, which introduces a single on-balance-sheet accounting model for lessees, replacing the previous distinction between operating and finance leases.
Comparative information has not been restated in accordance with the transitional provisions of Section 20.
Recognition
At the commencement date of a lease, the company recognises:
- a right-of-use asset, representing its right to use the underlying leased asset; and
- a lease liability, representing its obligation to make lease payments.
Leases with a lease term of 12 months or less and leases of low-value assets are recognised as an expense on a straight-line basis over the lease term.
Measurement of lease liabilities
The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date. Lease payments include:
- fixed payments (including in-substance fixed payments), less any lease incentives receivable;
- variable lease payments that depend on an index or a rate;
- amounts expected to be payable under residual value guarantees; and
- payments of termination penalties, where the lease term reflects the company exercising that option.
The lease payments are discounted using the interest rate implicit in the lease, or, where this cannot be readily determined, the company’s incremental borrowing rate.
Subsequently, the lease liability is measured at amortised cost, with interest expense recognised in profit or loss and reduced by lease payments made.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
The intangible asset (Brand Development) is considered to have a finite useful life. A 33.33% amortisation charge has been applied to the asset giving this a useful life of 3 years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
In accordance with the adoption of the revised section 20 "Leases" of FRS 102 the Company now recognises leased assets on a control basis.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Measurement of right-of-use assets
Right-of-use assets are initially measured at cost, comprising:
- the initial measurement of the lease liability;
- any lease payments made at or before the commencement date;
- any initial direct costs incurred; and
- an estimate of costs to be incurred in dismantling or restoring the leased asset.
Subsequently, right-of-use assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is charged on a straight-line basis over the shorter of the lease term and the asset’s useful economic life.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits 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 insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and judgements concering the future. The resulting accounting estimates, will be by definition, seldom equal the related actual results.
Lease liabilities and right-of-use assets
Leases and the subsequent right of use assets are recognised on the transition to revised section 20 "Leases" of FRS102.
Lease liabilities are recognised on the basis of the present value of future payment obligations. Lease payments are discounted using the interest rate implicit in the lease, where this rate is not available the company's incramental borrowing rate is used.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The average monthly number of employees, including directors, during the year was 42 (2024 - 32).
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Charge for the year on owned assets
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Recognition of right-of-use assets
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Charge for the year on owned assets
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Charge for the year on right-of-use assets
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The net book value of owned and leased assets included as ''Tangible fixed assets'' in the Statement of financial position is as follows:
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Tangible fixed assets owned
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Right-of-use tangible fixed assets
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Information about the right-of-use assets is summarised below:
Net book value
Depreciation charge for the year
Recognition right-of-use assets
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Recognition right-of-use assets
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Amounts owed by group undertakings
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Prepayments and accrued income
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
7.Debtors (continued)
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For details on the restatment to the 2024 balances, please refer to note 12.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Share premium account
The share premium account represents the amount by which shares have been issued in excess of their nominal value.
Profit and loss account
The profit and loss account is mde up of the accumulated profits and losses of the Company less any distributions.
The comparative figures have been restated to include a write off to stock balances previously stated in another group company. The effect of the restatement is an incease in administrative expenses of £177,021 and an increase in debtors of £177,021.
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IDUNA OMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £135,029 (2024: £155,299). Contributions totalling £8,423 (2024: £12,305) were payable to the fund at the balance sheet date and are included in creditors.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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The company has adopted the revised Section 20 "Leases" of FRS 102 from 1 January 2025, which introduces a single on-balance-sheet accounting model for lessees, replacing the previous distinction between operating and finance leases.
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The Company is wholly owned by its ultimate parent, Iduna Infrastructure Limited, a company incorporated and registered in the United Kingdom. The Company is included within the consolidated financial statements of the ultimate parent, which can be obtained from Companies House or its registered office. Its registered office is located at C/O Indigo Goverance, Vincent Court, Ground Floor, 853-855 London Road, Westcliff-On-Sea, Essex, United Kingdom, SS0 9SZ.
The ultimate controlling party is Octopus Renewables Infrastructure SCSP, due to its majority shareholding of the ultimate parent.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 22 May 2026 by Andrew Malpass BA FCA (Senior statutory auditor) on behalf of WR Partners.
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