Clenergy EV Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10932260 (England and Wales)

CLENERGY EV LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr. J P Fleming

Mr. W J E David

REGISTERED OFFICE:

The Mill House Erw Hir

Llantrisant

Pontyclun

CF72 8BY

REGISTERED NUMBER:

10932260 (England and Wales)

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Intangible assets

4

881,729

1,031,294

Tangible assets

5

5,310

38,889

887,039

1,070,183

CURRENT ASSETS

Stocks

16,372

18,647

Debtors

6

266,525

147,318

Cash at bank

140,081

496,420

422,978

662,385

CREDITORS

Amounts falling due within one year

7

535,763

1,220,446

NET CURRENT LIABILITIES

(112,785

)

(558,061

)

TOTAL ASSETS LESS CURRENT LIABILITIES

774,254

512,122

CREDITORS

Amounts falling due after more than one year

8

387,922

2,027,611

NET ASSETS/(LIABILITIES)

386,332

(1,515,489

)

CAPITAL AND RESERVES

Called up share capital

10

291

135

Share premium

4,318,873

1,999,976

Retained earnings

(3,932,832

)

(3,515,600

)

SHAREHOLDERS' FUNDS

386,332

(1,515,489

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 27th July 2026 and were signed on its behalf by:

Mr. W J E David - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

33.33% straight line on cost

Plant and machinery

-

33.33% straight line on cost

Motor vehicles

-

25% straight line on cost

Equipment

-

33.33% straight line on cost

Government grants

Grants are recognised over the period for which the grant is intended to compensate. Grants that are receivable as compensation for expenses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Stocks

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

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 statement of financial position date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Website

Development

design

costs

Totals

£

COST

At 1st January 2025

6,150

1,628,181

1,634,331

Additions

-

201,508

At 31st December 2025

6,150

1,829,689

1,835,839

AMORTISATION

At 1st January 2025

6,150

596,887

603,037

Amortisation for year

-

351,073

At 31st December 2025

6,150

947,960

954,110

NET BOOK VALUE

At 31st December 2025

-

881,729

At 31st December 2024

-

1,031,294

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Equipment

Totals

£

COST

At 1st January 2025

22,998

6,745

27,000

63,167

119,910

Additions

-

1,406

Disposals

-

(27,000

)

-

(27,000

)

At 31st December 2025

22,998

6,745

-

64,573

94,316

DEPRECIATION

At 1st January 2025

15,960

4,506

14,363

46,192

81,021

Charge for year

7,032

1,485

-

13,831

22,348

Eliminated on disposal

-

(14,363

)

-

(14,363

)

At 31st December 2025

22,992

5,991

-

60,023

89,006

NET BOOK VALUE

At 31st December 2025

6

754

-

4,550

5,310

At 31st December 2024

7,038

2,239

12,637

16,975

38,889

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

125,575

106,150

Other debtors

140,950

41,168

266,525

147,318

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

5,002

5,000

Trade creditors

69,369

51,576

Taxation and social security

(44,262

)

177,805

Other creditors

505,654

986,065

535,763

1,220,446

Other creditors includes £350,143 (2024 - £405,513) of deferred income. This represents amounts billed to customers but not yet recognised in the Profit and Loss. Income will be recognised over the licence period, £337,303 of which falls within the next year.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

21,693

27,611

Other creditors

366,229

2,000,000

387,922

2,027,611

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

10,936

16,932

Between one and five years

15,493

-

26,429

16,932

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

2,912,231

Ordinary

£0.0001

291

135

On 9 April 2025, Clenergy EV Ltd converted loans of £2,247,000 into equity. The conversion resulted in the issuance of 1,565,031 ordinary shares of £0.0001 each.

The directors remain confident that the Company continues to be a going concern following the above conversion.

11.	RELATED PARTY DISCLOSURES

As at the year end, Clenergy EV Ltd owed £353,389 (2024 - £2,373,226) to shareholders and companies controlled by the directors. The lenders have undertaken not to seek or demand repayment before 1 January 2027, and the amounts are accordingly classified as falling due after more than one year.