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Registered number: 14393968
IDUNA EVCI ASSET CO 1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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IDUNA EVCI ASSET CO 1 LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report with the financial statements of the company for the year ended 31 December 2025.
The principal activity of the company is the development, ownership, operation and maintenance of a nationwide network of electric vehicle (EV) charging infrastructure for public use, supporting the United Kingdom’s transition to electrified transport.
2025 saw the Group continue with its vision of becoming the EV driver’s number one CPO of choice with strong customer growth and the launch of a number of customer centric products and developments. Be.EV was ranked #2 Medium sized network in the annual ZapMap survey, as voted by drivers, improving on a rank of 4th in 2024, testament to the customer centric approach adopted by the Group. 2025 was also a year of strong organic network growth, driven by continued investment in the rollout of EV charging infrastructure and the execution of its core strategy.
During the year, the company expanded its network through the development and energisation of new sites across the UK, progressing a robust pipeline and increasing its operational footprint in line with plan. This growth has been underpinned by disciplined capital deployment, a focus on high-quality locations, and continued emphasis on customer experience and network reliability.
A key driver of performance during the year has been the successful introduction and growth of the Company’s subscription offering, including its market-leading 39p/kWh pricing proposition. This initiative has been well received by customers, supporting increased utilisation across the network and strengthening customer loyalty. The competitive and transparent pricing model has enabled the company to differentiate itself in a crowded market, contributing to an increase in market share and reinforcing its position as a leading provider of accessible and reliable public EV charging infrastructure in the UK.
Funding and capital structure
The company remains well capitalised to support its growth ambitions. The £55 million debt facility secured from NatWest and KfW IPEX-Bank continues to provide long-term funding for infrastructure rollout, supplemented by ongoing equity support from the company’s ultimate parent.
Operational performance
Network utilisation has continued to grow exponentially in line with management expectations, reflecting:
•Increasing EV adoption across the UK
•Improved network scale and geographic coverage
•A continued focus on customer experience, reliability and pricing transparency
The company’s strategy remains centred on delivering a high-quality, customer-first charging network, supported by targeted marketing and strong brand positioning.
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IDUNA EVCI ASSET CO 1 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Sustainability and community impact
The company is committed to supporting the UK’s decarbonisation objectives by enabling the transition to electric mobility.
In delivering its infrastructure programme, the company:
Works with UK-based suppliers and contractors
•Seeks to create long-term, sustainable infrastructure within the communities it serves
Going concern and financial support
The Directors have an expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The Company has received confirmation that its parent will provide financial support for a period of at least 12 months from the date of approval of these financial statements, if required.
EV market growth
The UK electric vehicle (EV) market continued to grow during 2025, despite ongoing macroeconomic uncertainty, cost of living pressures and evolving government policy.
Battery electric vehicle (BEV) adoption has remained on an upward trajectory, supported by both regulatory drivers and increasing consumer acceptance. During the year, BEVs accounted for approximately 20%–25% of new car registrations, with full year penetration remaining materially ahead of prior periods. This reflects continued momentum in the transition away from internal combustion engine vehicles.
The regulatory backdrop remains a key driver of growth. The UK Government’s Zero Emission Vehicle (ZEV) mandate, which requires manufacturers to meet minimum zero-emission sales thresholds, continues to provide a clear framework supporting long-term electrification. Whilst the deferral of the ban on new petrol and diesel vehicles from 2030 to 2035 introduced some short-term uncertainty, this has not materially altered the long-term direction of travel.
The public charging infrastructure network has also expanded significantly. As at the end of 2025, the UK had in excess of 75,000 public charging points, representing continued year-on-year growth of over 30%. This expansion is critical in supporting increasing EV adoption, particularly for drivers without access to home charging.
In parallel, structural market developments are supporting demand, including:
•Increased availability of EV models across all vehicle segments
•Growth in fleet electrification, particularly among corporate and public sector users
•Development of a maturing second-hand EV market, improving affordability for consumers
Whilst inflationary pressures and energy price volatility remain considerations for the sector, the underlying fundamentals of EV adoption remain strong.
The Directors therefore expect the continued growth in EV adoption to drive sustained and increasing demand for reliable, high-quality public charging infrastructure over the medium to long term.
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IDUNA EVCI ASSET CO 1 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties
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The principal risks that affect the business are reviewed and monitored by senior management. The key risks that the company face include:
Health and safety:
The risk of site-related and workplace injuries and environmental incidents exist which could result in:
•Significant injury or death of staff, contractors, or customer.
•Claims against the company
•Investigations and enforcement from statutory bodies (e.g. Health and Safety Executive) which could include improvement actions, fines and suspension of operations.
•Reputational damage.
The business operates a full Health, Safety, Environmental and Quality (HSEQ) management system with training, inspections and monitoring programmes in place to minimise the risk of incidents occurring. The management of HSEQ features prominently in discussions at quarterly board and monthly senior leadership meetings.
Political and regulatory risk
Government policy on phasing out petrol and diesel engines as well as tackling the climate crisis could impact the uptake of electric vehicles.
The UK government has mandated that the public electric vehicle (EV) charging network, specifically for rapid and ultra-rapid chargers, must maintain 99% reliability to boost driver confidence and accelerate EV adoption.
Management continually monitors government policy and retain flexibility in the business model to enable an appropriate response should there be policy changes that impact the business.
We are an active member of the industry body ChargeUK, contributing to policy discussions and decisions.
Economic:
The business is reliant upon the growth in EV adoption by both private and commercial owners who then utilise the network. Government policies support and encourage this at present and whilst EV adoption remains a smaller part of the market today, the segment is growing rapidly. OEMs are promoting their lines of EVs in consideration of the 2035 deadline and with more fleets electrifying, an increasing second-hand market for EVs will present itself and help consumers overcome the affordability risk that will be short term.
Additionally, cost inflation has become an important factor for businesses to manage, in particular energy prices that are a significant category of expenditure for Iduna and its subsidiaries.
Competition:
Be.EV has sought to differentiate itself from its competition by focusing on the end user, its bespoke charging solutions and by putting the communities it serves at the heart of its site selection. In support of the company’s strategy to deliver this, the business is well capitalised to fund the roll-out of the network quickly to secure market share.
Be.EV recognises that price competitiveness is important, but the business prioritises value for money, which centres on great locations, scale, ease of use and reliability. Energy costs have stabilised in recent years and Be-EV continue to explore ways in which to offer value for money to customers.
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IDUNA EVCI ASSET CO 1 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Technology:
Most major vehicle manufacturers are investing in the electrification of transport as the clean alternative to fossil fuels, so the risk of electric vehicle technology being redundant in the foreseeable future is regarded as negligible.
As the industry develops, it is expected that the charging capability of EVs will increase and support faster charging to reduce waiting times. However, this will be limited to the expected dwell times of the location. The business continually monitors alternative hardware solutions in the market to ensure it offers the best solutions to drivers.
Management maintains strong relationships at the highest levels of its supply chain and ensures that the business is not dominated by one supplier.
Cyber security risk
The company relies on digital systems to operate its charging network, including payment platforms and customer interfaces, and is therefore exposed to cyber security threats.
A cyber incident could result in operational disruption, data loss, financial penalties and reputational damage.
The company maintains appropriate controls, including system security measures, monitoring and incident response processes, use of secure third-party providers, and regular staff training to reduce exposure to cyber risks.
Financial
The board has responsibility for monitoring financial risks and its policies are implemented by senior management. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company as described below:
1.Asset Utilisation
The long-term business model is based on an increasing rate of usage at sites once they go live. The usage expectation increases as the national adoption of electric vehicles grows. Work has been done with industry leading advisors on the forward demand profiles and achieving these demand curves remains the priority for the company.
2.Supply chain Risk
The company is exposed to changes in the market price for its materials which impacts the cost of each charging station installation. To manage this the company has developed a broad and competitive supply base including framework agreements with key suppliers to ensure price stability for the installation of its chargers as well as engagement with potential suppliers in the market.
3.Energy Price Risk
The company is exposed to energy price fluctuations from its energy suppliers which impacts gross margin. This can be partly offset, up or down, by the tariff charged to end users for charging as most competitors will also have similar exposure.
4.Foreign exchange risk
The company makes purchases, and receives payment in sterling, which limits its exposure to exchange rate risk. The company's hardware suppliers whilst UK companies and who invoice in sterling source supply from oversees manufacturers and the business is subject to fluctuation in exchange rates. If any future contracts require an agreement with an oversees supplier, the company will seek to denominate process in sterling.
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IDUNA EVCI ASSET CO 1 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Other key performance indicators
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In addition to the financial information presented to the board throughout the year management monitors the following key performance indicators:
- Health & Safety performance
- Site pipeline
- Capital deployed
- No of charge points energised
- Network availability and reliability
- Brand awareness
- Utilisation/revenue
- EBITDA Margin
- Capital expenditure cost per bay
- Product gross margin
- customer satisfaction
This report was approved by the board and signed on its behalf.
A J Fielden-Gray
Director
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IDUNA EVCI ASSET CO 1 LIMITED
REGISTERED NUMBER: 14393968
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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Creditors: amounts falling due after more than one year
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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 on 20 May 2026.
The notes on pages 7 to 17 form part of these financial statements.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Iduna EVCI Asset Co 1 Limited (company number 14393968) is a private company limited by shares, incorporated in England and Wales and domiciled in the United Kingdom. Its registered office and principal place of business is C/O Indigo Governance, 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 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 EVCI ASSET CO 1 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:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The entity has adopted the amended Section 23 of FRS102 ''Revenue from contracts with customers''. In adopting section 23 of FRS102, there has been no change 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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Leased assets: the Company as lessee
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The company has adopted the revised Section 20 ''Leases'' of FRS 102 from 01/01/2025, 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.
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 EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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:
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over the life of the lease
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Assets under construction
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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.
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.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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.
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.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL)
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Assets under construction
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Transfers between classes
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Recognition of right-of-use asset
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Charge for the year on owned assets
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Charge for the period on right-of-use assets
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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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Information about the right-of-use assets is summarised below:
Net book value
Depreciation charge for the year
Recognition of the right-of-use assets
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Recognition of the right-of-use assets
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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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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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The restatement of the comparative balances is in relation to an intercompany balance identified as a result of a £177,021 stock write off. There has been no changes to the previously stated primary statements.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due 2-5 years
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The balance within bank loans consists of a debenture which is secured by a fixed and floating charge over the assets of the Company.
Included within bank loans is a facility of £55 million issued by Natwest Bank PLC secured over the assets of the group. The facility is repayable by 25 June 2029. Interest is charged at a rate between 3.25% and 4.30% above the SONIA rate.
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The deferred tax balance is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Losses of £17,944,876 have been recognised as a deferred tax asset to offset against any timing differences that may arise. The Company has losses of £8,467,191 in excess of this amount that is not recognised as a deferred tax asset.
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £1.00
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As at 31 December 2025, the Company is party to a cross guarantee arrangement with it's parent company, Iduna Infrastructure Limited, in respect of the bank loan. Under the terms of this arrangement the loan held is secured over the shares held in the Company.
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At 31 December 2025 the Company had capital commitments as follows:
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Contracted for but not provided in these financial statements
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IDUNA EVCI ASSET CO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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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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Later than 1 year and not later than 5 years
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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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Related party transactions
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The Company has taken advantage of the exemption under FRS102 not to disclose transactions with wholly owned group companies.
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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 Governance, 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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