IRIS Accounts Production v26.1.10.61 11563035 director 1.4.25 31.3.26 31.3.26 Medium entities Plumbing, heat and air-conditioning installation true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 11563035 2025-03-31 11563035 2026-03-31 11563035 2025-04-01 2026-03-31 11563035 2024-03-31 11563035 2024-04-01 2025-03-31 11563035 2025-03-31 11563035 ns15:EnglandWales 2025-04-01 2026-03-31 11563035 ns14:PoundSterling 2025-04-01 2026-03-31 11563035 ns10:Director1 2025-04-01 2026-03-31 11563035 ns10:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 11563035 ns10:MediumEntities 2025-04-01 2026-03-31 11563035 ns10:Audited 2025-04-01 2026-03-31 11563035 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-04-01 2026-03-31 11563035 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-04-01 2026-03-31 11563035 ns10:FullAccounts 2025-04-01 2026-03-31 11563035 1 2025-04-01 2026-03-31 11563035 ns10:OrdinaryShareClass1 2025-04-01 2026-03-31 11563035 ns10:RegisteredOffice 2025-04-01 2026-03-31 11563035 ns10:Director2 2025-04-01 2026-03-31 11563035 ns5:CurrentFinancialInstruments 2026-03-31 11563035 ns5:CurrentFinancialInstruments 2025-03-31 11563035 ns5:Non-currentFinancialInstruments 2026-03-31 11563035 ns5:Non-currentFinancialInstruments 2025-03-31 11563035 ns5:ShareCapital 2026-03-31 11563035 ns5:ShareCapital 2025-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2026-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 11563035 ns5:ShareCapital 2024-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2025-04-01 2026-03-31 11563035 ns5:IntangibleAssetsOtherThanGoodwill 2025-04-01 2026-03-31 11563035 ns5:ComputerSoftware 2025-04-01 2026-03-31 11563035 ns5:PlantMachinery 2025-04-01 2026-03-31 11563035 ns5:FurnitureFittings 2025-04-01 2026-03-31 11563035 ns5:MotorVehicles 2025-04-01 2026-03-31 11563035 ns5:OwnedAssets 2025-04-01 2026-03-31 11563035 ns5:OwnedAssets 2024-04-01 2025-03-31 11563035 11 2025-04-01 2026-03-31 11563035 11 2024-04-01 2025-03-31 11563035 ns5:HirePurchaseContracts 2025-04-01 2026-03-31 11563035 ns5:HirePurchaseContracts 2024-04-01 2025-03-31 11563035 ns5:ComputerSoftware 2025-03-31 11563035 ns5:ComputerSoftware 2026-03-31 11563035 ns5:ComputerSoftware 2025-03-31 11563035 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-03-31 11563035 ns5:PlantMachinery 2025-03-31 11563035 ns5:FurnitureFittings 2025-03-31 11563035 ns5:MotorVehicles 2025-03-31 11563035 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-04-01 2026-03-31 11563035 ns5:ShortLeaseholdAssets ns5:LandBuildings 2026-03-31 11563035 ns5:PlantMachinery 2026-03-31 11563035 ns5:FurnitureFittings 2026-03-31 11563035 ns5:MotorVehicles 2026-03-31 11563035 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-03-31 11563035 ns5:PlantMachinery 2025-03-31 11563035 ns5:FurnitureFittings 2025-03-31 11563035 ns5:MotorVehicles 2025-03-31 11563035 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2026-03-31 11563035 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 11563035 ns5:CurrentFinancialInstruments 2025-04-01 2026-03-31 11563035 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2026-03-31 11563035 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-03-31 11563035 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2026-03-31 11563035 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2025-03-31 11563035 ns5:HirePurchaseContracts 2026-03-31 11563035 ns5:HirePurchaseContracts 2025-03-31 11563035 ns5:DeferredTaxation 2025-03-31 11563035 ns5:DeferredTaxation 2025-04-01 2026-03-31 11563035 ns5:DeferredTaxation 2026-03-31 11563035 ns10:OrdinaryShareClass1 2026-03-31 11563035 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 11563035 1 2025-04-01 2026-03-31

REGISTERED NUMBER: 11563035 (England and Wales)

| COTSWOLD ENERGY GROUP LTD |

| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2026 |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Cash Flow Statement | 13 |

| Notes to the Cash Flow Statement | 14 |

| Notes to the Financial Statements | 15 |

| COTSWOLD ENERGY GROUP LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTOR: | S A H Bones

| REGISTERED OFFICE: | 7/8 Avon Reach

| Monkton Hill

| Chippenham

| Wiltshire

| SN15 1EE

| REGISTERED NUMBER: | 11563035 (England and Wales)

| AUDITORS: | MC Audit Limited

| Statutory Auditors

| Lake House

| 2 Port Way

| Port Solent

| Portsmouth

| Hampshire

| PO6 4TY

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Cotswold Energy Group Limited is a UK-based provider of renewable energy solutions, delivering sustainable technologies for homes and businesses. The company focuses on solar PV, heat pumps, and insulation, alongside EV charging infrastructure. The company's core mission is to help reduce carbon emissions and energy bills through customized energy-saving installations.

PRINCIPAL ACTIVITIES

The entity specializes in:

1 |  | Solar Photovoltaic (PV) Systems: Installation of solar panels for homes and businesses to generate clean energy. |

2 |  | Heat Pumps: Offering both ground and air-source heat pumps for sustainable heating. |

3 |  | Insulation Upgrades: Improving energy efficiency through insulation solutions. |

4 |  | EV Charging: Supporting electric vehicle infrastructure with dedicated home and commercial chargers. |

These services aim to enhance energy independence, lower costs, and reduce carbon emissions.

BUSINESS MODEL

The company operates on a project-based model, generating revenue primarily through:

1 |  | Residential Installations: Home energy upgrades that include solar PV, heat pumps, and insulation on both a funded and able-to-pay basis. |

2 |  | Commercial Projects: Tailored energy solutions for businesses seeking to reduce operational costs and achieve sustaina bility goals. |

3 |  | Consulting and Design Services: Providing detailed feasibility assessments and energy-saving project designs. |

Cotswold Energy also offers long-term support, including maintenance and servicing of installed systems, ensuring optimal performance.

Key Performance Indicators (KPIs)

The company evaluates success using the following KPIs:

1. Profit growth: Sustained increase in profitability through sales growth and enhanced cost effectiveness

2. Carbon Reduction: Measured by tonnes of CO2 saved through installed systems, projecting over 30,000 tonnes of savings over 20 years.

3. Customer Satisfaction: High customer ratings for service quality, supported by positive testimonials on timely installations and professional service.

PRINCIPAL RISK AND UNCERTAINTIES

1 |  | Technological Advances: Rapid changes in renewable technology necessitate constant innovation. |

2 |  | Market Competition: Increasing number of entrants in the renewable energy space. |

3 |  | Regulatory Risks: Dependency on government grants and incentives for customer affordability. |

4 |  | Supply Chain Risks: Potential delays or disruptions in sourcing components for installations. |

To mitigate these risks, Cotswold Energy diversifies its product offerings and segments targeted and stays aligned with government energy policies.

FINANCIAL PERFORMANCE

For the financial year ending 31 March 2026, the company reported robust growth, supported by strong demand for renewable energy services:

Revenue: |  | £21.4mil, representing a 1.4% increase compared to the previous year. |

Gross profit: |  | £5.2mil, driven by cost-efficient project execution and growing market demand. |

The company maintained turnover and improved gross profitability, supported by robust demand for its services and then given its improvement in pre-exceptional profitability and strong demand pipeline, Cotswold Energy Group Limited is well-positioned as a going concern.

FUTURE OUTLOOK

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

The outlook remains positive as demand for renewable energy continues to grow and government policy continues to favour renewables:

Cotswold Energy Group Limited is a key player in the UK's renewable energy sector, with strong financial performance and a clear strategy for growth. Its customer-centric approach, combined with innovative technologies, positions it for continued success in helping homes and businesses reduce their carbon footprints. Management remains focused on maintaining operational efficiency, driving growth, and delivering long-term sustainability.

ON BEHALF OF THE BOARD:

S A H Bones - Director

1 July 2026

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 MARCH 2026

The director presents his report with the financial statements of the company for the year ended 31 March 2026.

DIVIDENDS

No dividends were disbursed in the 2026 year.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

N M I Gillanders held office from 1 April 2025 until after 31 March 2026 but prior to the date of this report.

S A H Bones was appointed as a director after 31 March 2026 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, MC Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S A H Bones - Director

1 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

COTSWOLD ENERGY GROUP LTD

Opinion

We have audited the financial statements of Cotswold Energy Group Ltd (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Emphasis of Matter

We draw attention to the going concern disclosure in Note 20 to the financial statements. As described in that note, at the balance sheet date the Company had limited cash reserves, was subject to a material third-party charge and was associated with a group in which certain entities had entered administration. Subsequent to the year end, the Company was acquired by Genous Limited and received additional funding support from its new owner.

Our opinion is not modified in respect of this matter.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

COTSWOLD ENERGY GROUP LTD

Other matter

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

COTSWOLD ENERGY GROUP LTD

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern.

Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues, management override concerning the size of the organisation.

We set financial statement materiality level based on the level of profit. As a trading company, profit is its primary focus which is why profit was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level.

Substantive audit tests were designed after assessing and testing systems and controls. The systems and controls which have been designed to act as a preventative measure against fraud and error were operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested.

Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override.

The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation.

Management assessed there is no going concern risk. The audit undertook a review of budgets and management accounts and came to the same conclusion as management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

COTSWOLD ENERGY GROUP LTD

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Underwood (Senior Statutory Auditor)

for and on behalf of MC Audit Limited

Statutory Auditors

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

1 July 2026

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

TURNOVER | 21,422,469 |  | 21,138,846 |  |

Cost of sales | 16,183,534 |  | 16,702,913 |  |

GROSS PROFIT | 5,238,935 |  | 4,435,933 |  |

Distribution costs | 742,602 |  | 559,821 |  |

Administrative expenses | 4,395,275 |  | 4,584,736 |  |

|  |  | 5,137,877 |  |  |  |  | 5,144,557 |  |

OPERATING PROFIT/(LOSS) | 4 | 101,058 |  | (708,624 | ) |

Exceptional items | 5 | 1,452,495 |  | - |  |

(1,351,437 | ) | (708,624 | ) |

Interest payable and similar expenses | 6 | 123,919 |  | 79,803 |  |

LOSS BEFORE TAXATION | (1,475,356 | ) | (788,427 | ) |

Tax on loss | 7 | (47,084 | ) | (219,916 | ) |

LOSS FOR THE FINANCIAL YEAR | (1,428,272 | ) | (568,511 | ) |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

LOSS FOR THE YEAR | (1,428,272 | ) | (568,511 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (1,428,272 | ) | (568,511 | ) |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

BALANCE SHEET

31 MARCH 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | - |  | 104,499 |  |

Tangible assets | 9 | 1,070,971 |  | 1,332,464 |  |

1,070,971 |  | 1,436,963 |  |

CURRENT ASSETS

Stocks | 10 | 303,125 |  | 504,226 |  |

Debtors | 11 | 6,277,552 |  | 6,019,045 |  |

Cash at bank | 11,749 |  | 106,052 |  |

6,592,426 |  | 6,629,323 |  |

CREDITORS

Amounts falling due within one year | 12 | 7,868,738 |  | 6,643,690 |  |

NET CURRENT LIABILITIES | (1,276,312 | ) | (14,367 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (205,341 | ) | 1,422,596 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (562,082 | ) | (714,663 | ) |

PROVISIONS FOR LIABILITIES | 15 | (184,426 | ) | (231,510 | ) |

NET (LIABILITIES)/ASSETS | (951,849 | ) | 476,423 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 78 |  | 78 |  |

Retained earnings | 17 | (951,927 | ) | 476,345 |  |

SHAREHOLDERS' FUNDS | (951,849 | ) | 476,423 |  |

The financial statements were approved by the director and authorised for issue on 1 July 2026 and were signed by:

S A H Bones - Director

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2024 | 78 |  | 1,044,856 |  | 1,044,934 |  |

Changes in equity

Total comprehensive income | - |  | (568,511 | ) | (568,511 | ) |

Balance at 31 March 2025 | 78 |  | 476,345 |  | 476,423 |  |

Changes in equity

Total comprehensive income | - |  | (1,428,272 | ) | (1,428,272 | ) |

Balance at 31 March 2026 | 78 |  | (951,927 | ) | (951,849 | ) |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 621,475 |  | 520,308 |  |

Interest paid | (3,648 | ) | - |  |

Interest element of hire purchase payments paid | (120,271 | ) | (79,803 | ) |

Tax paid | (118,550 | ) | (42,318 | ) |

Net cash from operating activities | 379,006 |  | 398,187 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | - |  | (56,329 | ) |

Purchase of tangible fixed assets | (420,830 | ) | (578,106 | ) |

Sale of tangible fixed assets | 11,296 |  | 19,533 |  |

Net cash from investing activities | (409,534 | ) | (614,902 | ) |

Cash flows from financing activities

Capital repayments in year | (63,775 | ) | (198,621 | ) |

Net cash from financing activities | (63,775 | ) | (198,621 | ) |

Decrease in cash and cash equivalents | (94,303 | ) | (415,336 | ) |

Cash and cash equivalents at beginning of year | 2 | 106,052 |  | 521,388 |  |

Cash and cash equivalents at end of year | 2 | 11,749 |  | 106,052 |  |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2026 |  | 2025

£ | £ |

| Loss before taxation | (1,475,356 | ) | (788,427 | ) |

| Depreciation charges | 627,627 |  | 559,821 |  |

| Loss on disposal of fixed assets | 32,924 |  | 5,109 |  |

| Non cash adjustment - Bad debts | 1,733,266 |  | 26,789 |  |

| Impairment loss | 114,974 |  | - |  |

| Non cash adjustment - HP Leases | (340,810 | ) | 185,406 |  |

| Finance costs | 123,919 |  | 79,803 |  |

816,544 |  | 68,501 |  |

| Decrease/(increase) in stocks | 201,101 |  | (149,872 | ) |

| Increase in trade and other debtors | (1,741,861 | ) | (3,281,078 | ) |

| Increase in trade and other creditors | 1,345,691 |  | 3,882,757 |  |

| Cash generated from operations | 621,475 |  | 520,308 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2026

| 31.3.26 |  | 1.4.25

£ | £ |

| Cash and cash equivalents | 11,749 |  | 106,052 |  |

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 106,052 |  | 521,388 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.4.25 | Cash flow | At 31.3.26

£ | £ | £ |

| Net cash |

| Cash at bank | 106,052 |  | (94,303 | ) | 11,749 |  |

106,052 |  | (94,303 | ) | 11,749 |  |

| Debt

| Finance leases | (1,175,773 | ) | 63,775 |  | (1,111,998 | ) |

(1,175,773 | ) | 63,775 |  | (1,111,998 | ) |

| Total | (1,069,721 | ) | (30,528 | ) | (1,100,249 | ) |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Cotswold Energy Group Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| 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.

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company, the revenue can be reliably measured and the revenue can be matched in the same period the service was rendered to the customer. Revenue is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Contract Income and Installation Services

| The entity undertakes installation-based contracts including solar, air source heat pumps and commercial works. Revenue from these contracts is recognised over time as the customer simultaneously receives and consumes the benefits of the services, or where the asset is created on the customer’s premises with no alternative use to the entity and the entity has an enforceable right to payment for work performed to date.

| The stage of completion is measured by reference to costs incurred relative to total estimated costs or certified work performed.

| Solar Installations

| Revenue is recognised over time based on stage of completion. Customer billing typically consists of a 25% deposit and 75% on completion. Revenue is recognised in line with work performed rather than invoice timing.

| Air Source Heat Pump (ASHP) Installations

| Revenue is recognised over time as installation progresses. Billing is staged (deposit, goods ordered, completion invoice), however revenue is recognised based on stage of completion of the installation works.

| Commercial Contracts

| Revenue is recognised over time using the percentage of completion method. Monthly Applications for Payment (AFP) are prepared based on certified work completed and revenue is recognised accordingly.

| Accrued and Deferred Income

| At each reporting date, revenue is adjusted to ensure appropriate matching of income and costs. Accrued income is recognised where revenue has been earned but not invoiced. Deferred income is recognised where payment has been received in advance of performance

| Expenses

| Expenses are recognised when it is probable that an outflow of resources embodying economic benefits will result from the settlement of a present obligation and the amount of the expense can be measured reliably.

| 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.

| An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

| Computer software is being amortised evenly over its estimated useful life of five years.

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| 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 | - | 33% on cost

| Fixtures and fittings | - | 33% on cost

| Motor vehicles | - | 25% on cost

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

| Impairment of fixed assets

| At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

| Stocks

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

| 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 and loans to related parties and investments in non-puttable ordinary shares.

| Trade and other debtors

| 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.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

| Trade and other creditors

| Short term trade 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.

| Long term loans

| Long-term loans requires that they be initially recognized at the transaction price, which is typically the amount of cash received or the fair value of other consideration given. Subsequently, long-term loans are measured at amortized cost using the effective interest rate method. This approach involves recognizing interest expense in profit or loss over the period of the loan in such a way that the interest rate is constant over the term of the loan.

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Right of use assets

| A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

| Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

| Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

| Operating lease payments are recognised as an expense on a straight line basis over the lease term.

3. | EMPLOYEES AND DIRECTORS

| 2026 |  | 2025

£ | £ |

| Wages and salaries | 5,337,246 |  | 4,804,826 |  |

| Social security costs | 344,833 |  | 480,974 |  |

| Other pension costs | 102,834 |  | 138,192 |  |

5,784,913 |  | 5,423,992 |  |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

3. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2026 |  | 2025

| Employees | 115 |  | 119 |  |

| 2026 |  | 2025

£ | £ |

| Director's remuneration | - |  | - |  |

4. | OPERATING PROFIT/(LOSS)

| The operating profit (2025 - operating loss) is stated after charging/(crediting):

| 2026 |  | 2025

£ | £ |

| Other operating leases | 88,591 |  | 72,719 |  |

| Depreciation - owned assets | 627,627 |  | 559,821 |  |

| (Profit)/loss on disposal of fixed assets | (11,614 | ) | 5,109 |  |

| Auditors' remuneration for non audit work | 1,500 |  | 2,350 |  |

| Auditors' remuneration | 7,300 |  | 6,200 |  |

| Exceptional item (sister company bad debt) | 1,452,495 |  | - |  |

5. | EXCEPTIONAL ITEMS

| 2026 |  | 2025

£ | £ |

| Exceptional items | (1,452,495 | ) | - |  |

| During the year (in February 2026), South Coast Insulation Services Limited (a subsidiary of Cotswold Energy Group Ltd's parent company with whom the Company had a material trading relationship) entered administration prior to the reporting date. As a result, management assessed the recoverability of the outstanding trade receivable due from the company and concluded that the balance was irrecoverable. The outstanding balance at the reporting date amounted to £1,452,495, given the Company's material work as a subcontractor for South Coast Insulation Services Limited. All works associated with this balance were completed in full.

| Accordingly, the receivable has been written off as a bad debt and recognised as an exceptional item within the profit and loss account.

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2026 |  | 2025

£ | £ |

| Interest payable | 3,648 |  | - |  |

| Hire purchase interest | 120,271 |  | 79,803 |  |

123,919 |  | 79,803 |  |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

7. | TAXATION

| Analysis of the tax credit

| The tax credit on the loss for the year was as follows:

| 2026 |  | 2025

£ | £ |

| Current tax:

| UK corporation tax | - |  | (149,660 | ) |

| Deferred tax | (47,084 | ) | (70,256 | ) |

| Tax on loss | (47,084 | ) | (219,916 | ) |

8. | INTANGIBLE FIXED ASSETS

| Computer

| software

£ |

| COST

| At 1 April 2025 | 104,499 |  |

| Impairments | (104,499 | ) |

| At 31 March 2026 | - |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

| At 31 March 2025 | 104,499 |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| Right of |  | Plant and |  | and |  | Motor |

| Use asset |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2025 | 690,938 |  | 147,495 |  | 175,168 |  | 1,351,517 |  | 2,365,118 |  |

| Additions | 395,259 |  | 20,403 |  | 2,821 |  | 2,347 |  | 420,830 |  |

| Disposals | (70,041 | ) | (38,250 | ) | (9,884 | ) | (94,199 | ) | (212,374 | ) |

| At 31 March 2026 | 1,016,156 |  | 129,648 |  | 168,105 |  | 1,259,665 |  | 2,573,574 |  |

| DEPRECIATION

| At 1 April 2025 | 245,765 |  | 69,262 |  | 58,498 |  | 659,129 |  | 1,032,654 |  |

| Charge for year | 208,696 |  | 47,218 |  | 68,915 |  | 302,798 |  | 627,627 |  |

| Eliminated on disposal | (42,221 | ) | (38,250 | ) | (9,884 | ) | (77,799 | ) | (168,154 | ) |

| Impairments | - |  | - |  | 10,476 |  | - |  | 10,476 |  |

| At 31 March 2026 | 412,240 |  | 78,230 |  | 128,005 |  | 884,128 |  | 1,502,603 |  |

| NET BOOK VALUE

| At 31 March 2026 | 603,916 |  | 51,418 |  | 40,100 |  | 375,537 |  | 1,070,971 |  |

| At 31 March 2025 | 445,173 |  | 78,233 |  | 116,670 |  | 692,388 |  | 1,332,464 |  |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

9. | TANGIBLE FIXED ASSETS - continued

| Assets included within Motor Vehicles with a net book value of £672,884 were held under hire purchase contracts.

| The Company recognizes right-of-use assets for property leases within tangible fixed assets. These assets are recognized at the present value of the lease payments over the lease term.

| As of 31 March 2026, the Company has recognized right-of-use assets for the following leased properties:

| Warehouse: The recognized right-of-use asset pertains to a warehouse lease, which is utilized for our storage and logistics operations.

| Office Spaces: The recognized right-of-use assets pertain to three office space leases, which are used for our administrative and executive activities.

10. | STOCKS

2026 | 2025 |

£ | £ |

| Stocks | 303,125 |  | 504,226 |  |

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

2026 | 2025 |

£ | £ |

| Trade debtors | 5,188,109 |  | 1,839,775 |  |

| Amounts owed by group undertakings | 5,000 |  | 1,660,472 |  |

| Other debtors | 946,498 |  | 1,921,268 |  |

| Corporation tax recoverable | 137,945 |  | 19,395 |  |

| VAT | - |  | 578,135 |  |

6,277,552 |  | 6,019,045 |  |

| Amounts owed by group companies are unsecured, bear no interest, and have no fixed repayment terms.

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

2026 | 2025 |

£ | £ |

| Hire purchase contracts (see note 14) | 549,916 |  | 461,110 |  |

| Trade creditors | 3,125,389 |  | 3,440,001 |  |

| Amounts owed to group undertakings | 210,477 |  | 308,314 |  |

| Social security and other taxes | 745,041 |  | 557,748 |  |

| VAT | 21,279 |  | - |  |

| Other creditors | 3,216,636 |  | 1,876,517 |  |

7,868,738 |  | 6,643,690 |  |

| Amounts due to group companies are unsecured, bear no interest, and have no fixed repayment terms.

13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2026 | 2025 |

£ | £ |

| Hire purchase contracts (see note 14) | 562,082 |  | 714,663 |  |

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

14. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2026 | 2025 |

£ | £ |

| Net obligations repayable:

| Within one year | 549,916 |  | 461,110 |  |

| Between one and five years | 562,082 |  | 714,663 |  |

1,111,998 |  | 1,175,773 |  |

15. | PROVISIONS FOR LIABILITIES

2026 | 2025 |

£ | £ |

| Deferred tax | 184,426 |  | 231,510 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2025 | 231,510 |  |

| Provided during year | (47,084 | ) |

| Balance at 31 March 2026 | 184,426 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 78 | Ordinary | 1 | 78 |  | 78 |  |

17. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | 476,345 |  |

| Deficit for the year | (1,428,272 | ) |

| At 31 March 2026 | (951,927 | ) |

18. | ULTIMATE PARENT COMPANY & CONTROLLING PARTY

| At the date of the balance sheet, 31st March 2026, the company was a subsidiary of SCIS Holdings Limited, its immediate parent undertaking.

| The ultimate parent undertaking was Mini & Marble Holdings Limited.

COTSWOLD ENERGY GROUP LTD (REGISTERED NUMBER: 11563035) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

19. | POST BALANCE SHEET EVENTS

| On 2 April 2026, the entire issued share capital of the Company was acquired by Genous Limited. As a result of the transaction, Genous Limited became the Company's immediate and ultimate parent undertaking, as well as its person with significant control.

| As the acquisition took place after the reporting date, it is considered a non-adjusting event. Accordingly, no adjustment has been made to the amounts recognised in these financial statements.

| Subsequent to the reporting date, on 2 April 2026, SCIS Holdings Limited entered administration. South Coast Insulation Services, another subsidiary of SCIS Holdings Limited, had already entered administration on 8 February 2026.

| The administration occurred after the reporting date and therefore does not provide evidence of conditions that existed at that date. Accordingly, it has been treated as a non-adjusting event and no adjustment has been made to the amounts recognised in these financial statements in respect of SCIS Holdings Limited.

| The directors have disclosed this matter due to its significance and will continue to monitor the administration process and assess any potential impact on the recoverability of outstanding balances and the Company's future financial position.

20. | GOING CONCERN

| The director has assessed the Company's ability to continue as a going concern, taking into account its financial position, cash flow forecasts and trading prospects for a period of at least twelve months from the date of approval of these financial statements.

| At the reporting date, there were indicators of potential financial stress, including limited cash reserves, the existence of a material third-party charge over the Company and the administration of certain entities under the same ultimate parent undertaking. These conditions were considered as part of management's going concern assessment.

| Subsequent to the year end, the Company was acquired by Genous Limited, an unrelated party, and is no longer associated with, financially dependent upon or operationally connected to the entities that entered administration. Following the acquisition, the Company received a material working capital loan from its new owner. The director expects this funding to remain available in the normal course of business and considers it to provide adequate liquidity support for the foreseeable future.

| Having considered the Company's forecasts, available financing and post-year-end developments, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on the going concern basis.

| The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern.