REGISTERED NUMBER: 12560932 (England and Wales)

North Farm Solar Extension Limited

Report of the Directors and

Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

R Davis

A P Kyriacou

REGISTERED OFFICE:

C/O Skyspecs Limited

167-169 Great Portland Street

5th Floor

London

W1W 5PF

REGISTERED NUMBER:

12560932 (England and Wales)

AUDITORS:

S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of generating and supplying electricity through the management of a solar farm.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

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.

DIRECTORS

R Davis and A P Kyriacou were appointed as directors after 31 December 2025 but prior to the date of this report.

N Papapetrou and E Pliakos ceased to be directors after 31 December 2025 but prior to the date of this report.

GOING CONCERN

As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Consequently, the directors have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation the Company remains to have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and therefore has prepared the financial statements on a going concern basis.

Financial risk management

The company is exposed to financial risks and the directors regularly reviews its financial exposure and seeks to limit the adverse effects on its financial performance by monitoring these risks.

The company seeks to manage liquidity risks to ensure sufficient liquidity is available to meet foreseeable needs which includes placing reliance on other group entities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director 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.

ON BEHALF OF THE BOARD:

R Davis - Director

7 July 2026

Opinion

We have audited the financial statements of North Farm Solar Extension Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 101 'Reduced Disclosure Framework' (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 December 2025 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, 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.

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Report of the Directors has 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 Report of the Directors.

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 directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity's policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's industry and regulations.

We understand that the company complies with the framework through outsourcing accounts preparation and tax compliance to external experts.

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the company's ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company:

- The Companies Act 2006 and FRS 101 in respect of the preparation and presentation of the financial statements; and

- UK taxation law.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement including how fraud might occur. The areas identified in this discussion were:

-manipulation of financial statements via fraudulent journal entries; and

-manipulation of the assumptions within the recoverable amount assessment for the plant and machinery balance.

The procedures we carried out to gain evidence in the above areas included:

-Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations;

- Understanding and challenging the assumptions made by management in their significant accounting estimates to assess if there is any evidence that they may be impaired; and

- Assessing the extent of compliance with relevant laws and regulations.

Overall, the senior statutory auditor was satisfied the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Antony Sassen FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

10 July 2026

TURNOVER

610,738

-

Administrative expenses

390,437

47,712

OPERATING PROFIT/(LOSS)

220,301

(47,712

)

Interest receivable and similar income

7,866

-

228,167

(47,712

)

Interest payable and similar expenses

4

487,726

68,731

LOSS BEFORE TAXATION

5

(259,559

)

(116,443

)

Tax on loss

6

-

-

LOSS FOR THE FINANCIAL YEAR

(259,559

)

(116,443

)

LOSS FOR THE YEAR

(259,559

)

(116,443

)

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(259,559

)

(116,443

)

FIXED ASSETS

Owned

Tangible assets

7

14,618,616

13,722,687

Right-of-use

Tangible assets

7, 11

1,094,652

1,080,516

15,713,268

14,803,203

CURRENT ASSETS

Debtors

8

452,738

348,526

Cash at bank

1,024,842

135,863

1,477,580

484,389

CREDITORS

Amounts falling due within one year

9

16,092,169

14,260,343

NET CURRENT LIABILITIES

(14,614,589

)

(13,775,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,098,679

1,027,249

CREDITORS

Amounts falling due after more than one year

10

1,059,144

1,028,155

NET ASSETS/(LIABILITIES)

39,535

(906

)

CAPITAL AND RESERVES

Called up share capital

12

300,003

3

Capital contribution reserve

13

203,798

203,798

Retained earnings

13

(464,266

)

(204,707

)

SHAREHOLDERS' FUNDS

39,535

(906

)

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2026 and were signed on its behalf by:

R Davis - Director

Called up

Capital

share

Retained

contribution

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

3

(88,264

)

203,798

115,537

Changes in equity

Total comprehensive income

-

(116,443

)

-

(116,443

)

Balance at 31 December 2024

3

(204,707

)

203,798

(906

)

Changes in equity

Issue of share capital

300,000

-

-

300,000

Total comprehensive income

-

(259,559

)

-

(259,559

)

Balance at 31 December 2025

300,003

(464,266

)

203,798

39,535

1.	STATUTORY INFORMATION

North Farm Solar Extension Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1; and

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Going Concern

As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Consequently, the directors have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation the Company remains to have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and therefore has prepared the financial statements on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements,estimates and assumptions about the impairments of fixed assets under construction. The estimates and underlying assumptions are reviewed on an ongoing basis and any adjustments felt necessary to the value of assets shown are recognised at the relevant reporting date.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course or business, net of discounts, VAT and other sales-related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Plant and machinery: 40 years on a straight-line basis.

Right-of-use: Over the life of the lease

Tangible assets with finite useful lives are carried at cost less accumulated depreciation and accumulated impairment losses.

Plant and machinery previously related to costs incurred for the asset under construction which was reclassified in the year following completion of the asset.

Taxation

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Leases are recognised as finance leases. The lease liability is initially recognised at the present value of the lease payments which have not yet been made and subsequently measured under the amortised cost method. The initial cost of the right-of-use asset comprises the amount of the initial measurement of the lease liability, lease payments made prior to the lease commencement date, initial direct costs and the estimated costs of removing or dismantling the underlying asset per the conditions of the contract.

Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-use asset is depreciated over the asset’s remaining useful life. If ownership of the right-of-use asset does not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the useful life of the right-of-use asset and the lease term.

Financial instruments

Debtors

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

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash 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 cash with insignificant risk of change in value.

Borrowing costs

The borrowing costs incurred on the loans from fellow group companies are directly attributable to the fixed asset under construction and therefore 100% of the borrowing costs are capitalised to the asset.

Decommissioning provision

At the end of the term, the Company is required to reinstate the Landlord's property to its original state. No provision has been included in the financial statements due to the uncertainty surrounding future costs of dismantling the asset.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2025 nor for the year ended 31 December 2024.

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

31.12.25

31.12.24

£

£

Directors' remuneration

-

-

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Interest Paid

415,967

-

IFRS16 interest

71,759

68,731

487,726

68,731

5.	LOSS BEFORE TAXATION

The loss before taxation is stated after charging:

31.12.25

31.12.24

£

£

Depreciation - owned assets

240,281

-

Depreciation - assets on hire purchase contracts or finance leases

30,564

20,181

Auditors' remuneration

6,950

6,925

6.

TAXATION

No liability to UK corporation tax arose for the period ended 31 December 2025 nor for the year ended 31 December 2024. At the year end date tax losses totalled £223,984 (2024: £204,707).

7.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 January 2025

1,129,480

13,722,687

14,852,167

Additions

44,700

1,136,210

1,180,910

At 31 December 2025

1,174,180

14,858,897

16,033,077

DEPRECIATION

At 1 January 2025

48,964

-

48,964

Charge for year

30,564

240,281

270,845

At 31 December 2025

79,528

240,281

319,809

NET BOOK VALUE

At 31 December 2025

1,094,652

14,618,616

15,713,268

At 31 December 2024

1,080,516

13,722,687

14,803,203

Plant and machinery relates to the costs incurred for the asset under construction which includes £415,005 (2024: £738,470) of borrowing costs capitalised in the year. The borrowing costs have been capitalised up until the point construction is complete.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

67,919

-

Amounts owed by group undertakings

-

187,703

Deferred consideration

63,412

63,412

VAT

86,807

78,957

Accrued income

51,675

-

Prepayments

182,925

18,454

452,738

348,526

Other debtors relate to deposits owed back to the company which will be received once construction has finished and the projects are complete.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

14,005

780,371

Amounts owed to group undertakings

15,963,278

12,739,785

Other creditors

-

8,413

IFRS16 liability < 1 year

65,697

69,639

Accrued expenses

49,189

662,135

16,092,169

14,260,343

The amounts owed to group undertakings are interest bearing and payable on demand.

There has been a prior year reclassification between the IFRS 16 current liability, IFRS 16 1-5 years liability and the IFRS 16 liability that exceeds 5 years. The current liability has increased by £61,689, the 1-5 year liability has increased by £204,442 and the liability that exceeds 5 years has decreased by £266,132. The reclassification has no impact on profits, retained earnings or net assets

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

IFRS16 liability 1-5 years

227,648

241,307

IFRS16 liability > 5 years

831,496

786,848

1,059,144

1,028,155

There has been a prior year reclassification between the IFRS 16 current liability, IFRS 16 1-5 years liability and the IFRS 16 liability that exceeds 5 years. The current liability has increased by £61,689, the 1-5 year liability has increased by £204,442 and the liability that exceeds 5 years has decreased by £266,132. The reclassification has no impact on profits, retained earnings or net assets

11.

LEASING

Right-of-use assets

Tangible fixed assets

31.12.25

31.12.24

£

£

COST

At 1 January 2025

1,129,480

1,076,021

Additions

44,700

53,459

1,174,180

1,129,480

DEPRECIATION

At 1 January 2025

48,964

28,783

Charge for year

30,564

20,181

79,528

48,964

NET BOOK VALUE

1,094,652

1,080,516

The Company entered into a lease agreement on 1 April 2023 in relation to development of land at North Farm. Rent is payable of £73,818 per annum from April 2023 until March 2063. Total cash outflow of the lease payments will be £2,976,651 and interest is charged at 6%.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

3

Ordinary

£1

300,003

3

13.

RESERVES

Capital

Retained

contribution

earnings

reserve

Totals

£

£

£

At 1 January 2025

(204,707

)

203,798

(909

)

Deficit for the year

(259,559

)

(259,559

)

At 31 December 2025

(464,266

)

203,798

(260,468

)

The capital contribution reserve relates to amounts waived by the Company's previous shareholders on disposal.

14.	ULTIMATE PARENT COMPANY

Metlen Energy & Metals A.E (incorporated in Greece) was previously regarded by the directors as being the company's ultimate parent company.

The immediate parent company was METKA EGN Regener8 Holdings Limited, a company incorporated in the UK.

The company's ultimate parent company was Metlen Energy & Metals A.E by virtue of its indirect interest in 100% of the shares.

Metlen Energy & Metals A.E is listed on the Athens and London Stock Exchanges.

The registered address for Metlen Energy & Metals A.E is:

8 Artemidos Str.

Maroussi

15125 Athens.

The consolidated accounts for Metlen Energy & Metals A.E are publicly available from www.metlengroup.com.

On 29 May 2026, the Company became a wholly owned subsidiary of Bruce Holdco Limited. Bruce Holdco Limited is ultimately owned by Schroders Greencoat Global Renewables+ LTAF, a sub-fund of Schroders Capital Long-Term Asset Funds, through a chain of wholly owned subsidiary undertakings. Legal title to the investment is held by J.P. Morgan Europe Limited (through its nominee company, Praesys One Nominees Limited) in its capacity as depositary of Schroders Greencoat Global Renewables+ LTAF. Accordingly, Schroders Greencoat Global Renewables+ LTAF is considered to be the ultimate controlling party of the Company.

15.	CONTINGENT LIABILITIES

The entity is party to an agreement where the assets of the company are secured by fixed and floating charges. The charge was subsequently satisfied in June 2026.

16.	CAPITAL COMMITMENTS

At the end of the reporting period, the Company had no capital commitments. In the prior year capital commitments amounted to £590,100 relating to the construction of a new solar farm, which was completed during the current year.

17.	EVENTS AFTER THE REPORTING PERIOD

On 29 May 2026, the Company became a wholly owned subsidiary of Bruce Holdco Limited. Bruce Holdco Limited is ultimately owned by Schroders Greencoat Global Renewables+ LTAF, a sub-fund of Schroders Capital Long-Term Asset Funds, through a chain of wholly owned subsidiary undertakings. Legal title to the investment is held by J.P. Morgan Europe Limited (through its nominee company, Praesys One Nominees Limited) in its capacity as depositary of Schroders Greencoat Global Renewables+ LTAF. Accordingly, Schroders Greencoat Global Renewables+ LTAF is considered to be the ultimate controlling party of the Company.