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REGISTERED NUMBER: 10480982 (England and Wales)

| Financial Statements |

| for the Year Ended 30 November 2025 |

| for |

| Advanced Electric Machines |

| Research Limited |

| Advanced Electric Machines |

| Research Limited (Registered number: 10480982) |

Contents of the Financial Statements

for the Year Ended 30 November 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Advanced Electric Machines |

| Research Limited |

Company Information

for the Year Ended 30 November 2025

| DIRECTORS: | M N O'Neill

| J Widmer

| REGISTERED OFFICE: | Teal House

| 10 Teal Farm Way

| Washington

| Tyne and Wear

| NE38 8BG

| REGISTERED NUMBER: | 10480982 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Kevin Shotton BA BFP FCA

| AUDITORS: | Clive Owen LLP

| Chartered Accountants

| & Statutory Auditors

| 140 Coniscliffe Road

| Darlington

| County Durham

| DL3 7RT

| Advanced Electric Machines |

| Research Limited (Registered number: 10480982) |

Balance Sheet

30 November 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Cash at bank | 604 |  | 861 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 604 |  | 861 |  |

CAPITAL AND RESERVES

Called up share capital | 4 | 12 |  | 12 |  |

Retained earnings | 592 |  | 849 |  |

SHAREHOLDERS' FUNDS | 604 |  | 861 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

J Widmer - Director

| Advanced Electric Machines |

| Research Limited (Registered number: 10480982) |

Notes to the Financial Statements

for the Year Ended 30 November 2025

1. | STATUTORY INFORMATION

| Advanced Electric Machines Research 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| There were no material departures from that standard.

| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

| Going concern

| On 31 March 2021, the company transferred its trade and related assets to Advanced Electric Machines Limited and has not traded since that date. Notwithstanding this, the directors consider that it is appropriate to adopt the going concern basis of preparation. This is due to the potential for future trading activity and the continued financial support of the parent undertaking, Advanced Electric Machines Group Limited, which has confirmed its intention to provide adequate financial support to enable the company to meet its liabilities as they fall due.

| Accordingly, the financial statements have been prepared on a going concern basis.

| 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.

| Financial instruments

| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| Advanced Electric Machines |

| Research Limited (Registered number: 10480982) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

4. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1,222 | Ordinary | £0.01 | 12 |  | 12 |  |

5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Kevin Shotton BA BFP FCA (Senior Statutory Auditor)

| for and on behalf of Clive Owen LLP

6. | ULTIMATE PARENT COMPANY

| The ultimate parent company and the smallest group to consolidate these financial statements is Advanced Electric Machines Group Ltd. The registered office is Teal House, 10 Teal Farm Way, Washington, Tyne and Wear, United Kingdom, NE38 8BG.