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

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

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 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 sustainability 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

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

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

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.

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.

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.

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

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

)

LOSS FOR THE YEAR

(1,428,272

)

(568,511

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(1,428,272

)

(568,511

)

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

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

)

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

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

)

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.

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.

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.

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

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

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