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REGISTERED NUMBER: 06643355 (England and Wales)

| Jones Lighting Limited |

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 March 2026 |

Jones Lighting Limited (Registered number: 06643355)

Contents of the Financial Statements

for the year ended 31 March 2026

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

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 |

Jones Lighting Limited

Company Information

for the year ended 31 March 2026

| DIRECTORS: | DS Jones

| WDC Jones

| NP Armstrong

| L Anderson

| O Pugholm

| REGISTERED OFFICE: | Suite 5

| Farington House

| Lancashire Business Park

| Leyland

| Lancashire

| PR26 6TW

| REGISTERED NUMBER: | 06643355 (England and Wales)

| AUDITORS: | McMillan & Co LLP

| Chartered Accountants and

| Statutory Auditor

| 28 Eaton Avenue

| Matrix Office Park

| Buckshaw Village

| Chorley

| Lancashire

| PR7 7NA

Jones Lighting Limited (Registered number: 06643355)

Strategic Report

for the year ended 31 March 2026

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

The company has been part of the United Infrastructure Group since March 2025 and reference should also be made to the group financial statements.

The company is focused on maintaining and building upon its' reputation as one of the leading street and infrastructure lighting contractors in the UK, together with offering project management and maintenance services. We are committed to developing and training our staff and to delivering a very high standard of workmanship in everything that we do. The long term objective of the Group is to continue to grow the business, both in our traditional markets as well as looking for new opportunities, whilst at the same time ensuring that any new work only adds to the profitability of the company. This will be done whilst retaining our core values.

We continue to build upon the organisational and procedural changes and efficiencies as part of a much larger group and we have enjoyed another record-breaking profitable year. Turnover for the year ended 31 March 2026 was £15.2m (2025: £12.3m) and profit before tax was £3.5m (2025: £2.8m).

The directors and management would like to thank the whole workforce for these good results.

KEY PERFORMANCE INDICATORS

The directors monitor the performance of the company on the following Key Performance Indicators ("KPI's");

| Year ended |  | Year ended |  |

| 31 March 2026 |  | 31 March 2025 |  |

Gross profit margin |  | 33.5% |  | 31.7% |  |

Operating profit margin |  | 23.1% |  | 22.1% |  |

EBITDA |  | £3,691k |  | £2,908k |  |

Jones Lighting Limited (Registered number: 06643355)

Strategic Report

for the year ended 31 March 2026

PRINCIPAL RISKS AND UNCERTAINTIES

The companies operations expose it to a variety of business and financial risks.

Safety, health and environment & quality - Safety, Health, Environment & Quality (SHEQ) is a top priority within the company. The new parent has embedded its Zero Harm strategy which is proactively

focussed on preventing incidents and harm, enhancing the environment for future generations and creating high quality, sustainable infrastructure and places to live. The company has established and maintains SHEQ management systems and uses leading KPI's such as Close Call reporting and Action management to ensure the highest standards are met and continual improvement is achieved.

Competition risk - The company partners with local authorities via mid to long term contractual agreements. These contracts are subject to periodic competitive tender processes. The company mitigates downside risk by working close ly with its clients to deliver an excellent service, whilst actively seeking opportunities to grow and diversify th e customer base both organically and through acquisition.

Regulatory risk - The company operates within highly regulated industries and as such is committed to continuous inve stment in compliance and governance structures. Our approach focuses our obligations on quality of serv ice to customers, ensures the safe operation of maintenance activities and that we carry out our activities in a n efficient,responsible manner, without compromise to compliance. We continue to review our systems and pro cesses working alongside our clients to enable us to anticipate and react to future changes in regulatory envi ronments.

Liquidity risk - The company monitors cash flow as part of its day-to-day procedures and the board regularly considers cash flow projections and ensures the company maintains a prudent level of liquid assets and appropriate fa cilities are available to be drawn on as necessary. The company maintains strong cash balances and a ctively monitors cash flows to ensure appropriate liquidity levels.

ON BEHALF OF THE BOARD:

DS Jones - Director

12 August 2026

Jones Lighting Limited (Registered number: 06643355)

Report of the Directors

for the year ended 31 March 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of installing and maintaining specialist street lighting.

DIVIDENDS

During the year the company paid a dividend of £nil (2025: £500,000) to the parent undertaking.

FUTURE DEVELOPMENTS

Following the acquisition of the company by the United Infrastructure Group, the directors are looking to expand their offering to DNO customers. They continue to be committed to training talent and to deliver a resilient infrastructure fit for the future.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

DS Jones

WDC Jones

NP Armstrong

L Anderson

O Pugholm

Other changes in directors holding office are as follows:

DM Rooney - resigned 5 September 2025

EMPLOYEES

Details of the number of employees and related costs are included within the notes to the financial statements.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of an employee becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training and support is given. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees. The company has policies and practices to keep employees informed on matters relevant to them as employees through regular meetings and other communications. Employee representatives are consulted regularly on a wide range of matters affecting their interests.

ENVIRONMENTAL

The company recognises the importance of its environmental responsibilities, monitors its impact on the environment and designs and implements policies to reduce any damage that might be caused by the company's activities. Such initiatives include the use of low emission vehicles where practicable, the recycling of as much material and other items as practically possible and reducing energy consumption.

Jones Lighting Limited (Registered number: 06643355)

Report of the Directors

for the year ended 31 March 2026

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, 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;

- | 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.

AUDITORS

The auditors, McMillan & Co LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

DS Jones - Director

12 August 2026

Report of the Independent Auditors to the Members of

Jones Lighting Limited

Opinion

We have audited the financial statements of Jones Lighting Limited (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 profit 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 Strategic Report and 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 Strategic Report and the Report of the Directors 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 Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Jones Lighting Limited

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 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 five, 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.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- |  | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |

- |  | we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; |

- |  | we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; |

- |  | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |

- |  | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |

Report of the Independent Auditors to the Members of

Jones Lighting Limited

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- |  | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |

- |  | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |

To address the risk of fraud through management bias and override of controls, we:

- |  | performed analytical procedures to identify any unusual or unexpected relationships; |

- |  | tested journal entries to identify unusual transactions, |

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation; |

- |  | reading the minutes of meetings of those charged with governance; |

- |  | enquiring of management as to actual and potential litigation and claims; and |

- |  | reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors. |

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

Andrea Gerring FCA (Senior Statutory Auditor)

for and on behalf of McMillan & Co LLP

Chartered Accountants and

Statutory Auditor

12 August 2026

Jones Lighting Limited (Registered number: 06643355)

Income Statement

for the year ended 31 March 2026

2026 | 2025 |

| Notes | £ | £

TURNOVER | 15,185,865 |  | 12,286,113 |  |

Cost of sales | 10,092,132 |  | 8,392,313 |  |

GROSS PROFIT | 5,093,733 |  | 3,893,800 |  |

Administrative expenses | 1,587,342 |  | 1,177,049 |  |

OPERATING PROFIT | 5 | 3,506,391 |  | 2,716,751 |  |

Interest receivable and similar income | 10,191 |  | 52,744 |  |

3,516,582 |  | 2,769,495 |  |

Interest payable and similar expenses | 6 | 25,849 |  | 1,611 |  |

PROFIT BEFORE TAXATION | 3,490,733 |  | 2,767,884 |  |

Tax on profit | 7 | 831,107 |  | 691,971 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,659,626 |  | 2,075,913 |  |

Jones Lighting Limited (Registered number: 06643355)

Other Comprehensive Income

for the year ended 31 March 2026

2026 | 2025 |

| Notes | £ | £

PROFIT FOR THE YEAR | 2,659,626 |  | 2,075,913 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,659,626 |  | 2,075,913 |  |

Jones Lighting Limited (Registered number: 06643355)

Balance Sheet

31 March 2026

2026 | 2025 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 521,115 |  | 658,751 |  |

521,115 |  | 658,751 |  |

CURRENT ASSETS

Stocks | 11 | 624,972 |  | 758,986 |  |

Debtors | 12 | 9,154,720 |  | 6,810,563 |  |

Cash at bank and in hand | 2,193,161 |  | 751,026 |  |

11,972,853 |  | 8,320,575 |  |

CREDITORS

Amounts falling due within one year | 13 | 5,211,297 |  | 4,321,079 |  |

NET CURRENT ASSETS | 6,761,556 |  | 3,999,496 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,282,671 |  | 4,658,247 |  |

PROVISIONS FOR LIABILITIES | 15 | 124,256 |  | 159,458 |  |

NET ASSETS | 7,158,415 |  | 4,498,789 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 100 |  | 100 |  |

Retained earnings | 17 | 7,158,315 |  | 4,498,689 |  |

SHAREHOLDERS' FUNDS | 7,158,415 |  | 4,498,789 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2026 and were signed on its behalf by:

DS Jones - Director

Jones Lighting Limited (Registered number: 06643355)

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 | 100 |  | 2,922,776 |  | 2,922,876 |  |

Changes in equity

Dividends | - |  | (500,000 | ) | (500,000 | ) |

Total comprehensive income | - |  | 2,075,913 |  | 2,075,913 |  |

Balance at 31 March 2025 | 100 |  | 4,498,689 |  | 4,498,789 |  |

Changes in equity

Total comprehensive income | - |  | 2,659,626 |  | 2,659,626 |  |

Balance at 31 March 2026 | 100 |  | 7,158,315 |  | 7,158,415 |  |

Jones Lighting Limited (Registered number: 06643355)

Cash Flow Statement

for the year ended 31 March 2026

2026 | 2025 |

| Notes | £ | £

Cash flows from operating activities

Cash generated from operations | 1 | 3,570,352 |  | 2,662,633 |  |

Interest paid | (25,849 | ) | - |  |

Interest element of hire purchase or finance lease rental payments paid | - |  | (1,611 | ) |

Tax paid | (2,247,515 | ) | (567,185 | ) |

Net cash from operating activities | 1,296,988 |  | 2,093,837 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (66,717 | ) | (253,168 | ) |

Sale of tangible fixed assets | 19,919 |  | 58,413 |  |

Interest received | 10,191 |  | 52,744 |  |

Net cash from investing activities | (36,607 | ) | (142,011 | ) |

Cash flows from financing activities

Capital repayments in year | - |  | (148,655 | ) |

Movement in group financing | 181,754 |  | (2,750,000 | ) |

Equity dividends paid | - |  | (500,000 | ) |

Net cash from financing activities | 181,754 |  | (3,398,655 | ) |

Increase/(decrease) in cash and cash equivalents | 1,442,135 |  | (1,446,829 | ) |

Cash and cash equivalents at beginning of year | 2 | 751,026 |  | 2,197,855 |  |

Cash and cash equivalents at end of year | 2 | 2,193,161 |  | 751,026 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Cash Flow Statement

for the year ended 31 March 2026

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

2026 | 2025 |

| £ | £

| Profit before taxation | 3,490,733 |  | 2,767,884 |  |

| Depreciation charges | 175,702 |  | 192,299 |  |

| Loss/(profit) on disposal of fixed assets | 8,732 |  | (1,294 | ) |

| Finance costs | 25,849 |  | 1,611 |  |

| Finance income | (10,191 | ) | (52,744 | ) |

3,690,825 |  | 2,907,756 |  |

| Decrease in stocks | 134,014 |  | 59,347 |  |

| Increase in trade and other debtors | (285,332 | ) | (678,025 | ) |

| Increase in trade and other creditors | 30,845 |  | 373,555 |  |

| Cash generated from operations | 3,570,352 |  | 2,662,633 |  |

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 | 2,193,161 |  | 751,026 |  |

| Year ended 31 March 2025

| 31/3/25 |  | 1/4/24

| £ | £

| Cash and cash equivalents | 751,026 |  | 2,197,855 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/4/25 | Cash flow | At 31/3/26

| £ | £ | £

| Net cash |

| Cash at bank and in hand | 751,026 |  | 1,442,135 |  | 2,193,161 |  |

751,026 |  | 1,442,135 |  | 2,193,161 |  |

| Total | 751,026 |  | 1,442,135 |  | 2,193,161 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements

for the year ended 31 March 2026

1. | STATUTORY INFORMATION

| Jones Lighting 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 (£) and the amounts in the financial statements have been rounded to the nearest £1.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The company has performed well in the year, with profit before tax of £3.5m (2025: £2.8m). It has on-going framework contracts and a strong pipeline of work.

| United Infrastructure Limited, of which the company is now part, and which undertakes the treasury function, continues to meet its day to day working capital requirements and at the balance sheet date the Group had a cash balance of £81.1m (2025: £70.2m).

| In their assessment of going concern the directors have prepared cashflow forecasts for the company and the wider Group for the period to March 2027 and beyond, showing a base case and a sensitised case reflecting a severe but plausible downside scenario.

| The company continues to present a strong cash position and the Group's cash flow forecast support the directors' expectations that the business will be able to meet its obligations as they fall due. As a result, at the time of approving these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements, and for the foreseeable future thereafter.

| Consequently, they have continued to adopt the going concern basis of accounting in preparing these financial statements.

| 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.

| Significant judgements and estimates

| In preparing the financial statements the directors have made judgement, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenditure. The estimates and assumptions are based on historic experiences, future predictions and various other factors that are believed to be appropriate and reasonable under the circumstances. The judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying value of assets and liabilities are the valuation of stocks and bad and doubtful debts.

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| Turnover

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

| Revenue is recognised, in respect of contracts where the company's contractual obligations are performed gradually over time, as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

| Goodwill

| Goodwill arising on the acquisition of a business acquired in 2015 was amortised over 3 years.

| 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.

| Plant and machinery | - | 25% on reducing balance

| Fixtures & fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on reducing balance

| 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 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.

| 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.

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

4. | EMPLOYEES AND DIRECTORS

2026 | 2025 |

| £ | £

| Wages and salaries | 3,327,865 |  | 2,845,084 |  |

| Social security costs | 391,941 |  | 275,594 |  |

| Other pension costs | 137,871 |  | 136,361 |  |

3,857,677 |  | 3,257,039 |  |

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

2026 | 2025 |

| Operatives and installers | 75 |  | 74 |  |

| Management and administration | 12 |  | 12 |  |

87 |  | 86 |  |

2026 | 2025 |

| £ | £

| Directors' remuneration | 177,171 |  | 28,497 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 3 |  |

5. | OPERATING PROFIT

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

2026 | 2025 |

| £ | £

| Depreciation - owned assets | 175,702 |  | 192,299 |  |

| Loss/(profit) on disposal of fixed assets | 8,732 |  | (1,294 | ) |

| Auditors' remuneration | 5,500 |  | 5,000 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

2026 | 2025 |

| £ | £

| Interest on late paid tax | 25,849 |  | - |  |

| Hire purchase | - |  | 1,611 |  |

25,849 |  | 1,611 |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

2026 | 2025 |

| £ | £

| Current tax:

| UK corporation tax | - |  | 679,667 |  |

| Group relief | 866,309 |  | - |  |

| Prior years corporation tax

| adjustments | - |  | 16,596 |  |

| Total current tax | 866,309 |  | 696,263 |  |

| Deferred tax | (35,202 | ) | (4,292 | ) |

| Tax on profit | 831,107 |  | 691,971 |  |

| UK corporation tax has been charged at 25% (2025 - 25%).

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2026 | 2025 |

| £ | £

| Profit before tax | 3,490,733 |  | 2,767,884 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | 872,683 |  | 691,971 |  |

| Effects of:

| Expenses not deductible for tax purposes | 10,104 |  | - |  |

| tax and deferred tax |

| allowances legislation |

| RDEC claims | (54,683 | ) | - |  |

| Other timing differences | 3,003 |  | - |  |

| Total tax charge | 831,107 |  | 691,971 |  |

8. | DIVIDENDS

2026 | 2025 |

| £ | £

| Ordinary shares of £1 each |

| Dividends paid | - |  | 500,000 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

9. | INTANGIBLE FIXED ASSETS

Goodwill |

| £

| COST

| At 1 April 2025

| and 31 March 2026 | 6,000 |  |

| AMORTISATION

| At 1 April 2025

| and 31 March 2026 | 6,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

| At 31 March 2025 | - |  |

10. | TANGIBLE FIXED ASSETS

Plant and | Fixtures & | Motor | Computer |  |

machinery | fittings | vehicles | equipment | Totals |

| £ | £ | £ | £ | £

| COST

| At 1 April 2025 | 135,676 |  | 28,787 |  | 954,797 |  | 119,655 |  | 1,238,915 |  |

| Additions | 23,468 |  | - |  | 43,249 |  | - |  | 66,717 |  |

| Disposals | (18,195 | ) | (28,787 | ) | (109,051 | ) | (106,695 | ) | (262,728 | ) |

| At 31 March 2026 | 140,949 |  | - |  | 888,995 |  | 12,960 |  | 1,042,904 |  |

| DEPRECIATION

| At 1 April 2025 | 75,025 |  | 25,255 |  | 371,942 |  | 107,942 |  | 580,164 |  |

| Charge for year | 20,989 |  | - |  | 151,985 |  | 2,728 |  | 175,702 |  |

| Eliminated on disposal | (16,091 | ) | (25,255 | ) | (90,885 | ) | (101,846 | ) | (234,077 | ) |

| At 31 March 2026 | 79,923 |  | - |  | 433,042 |  | 8,824 |  | 521,789 |  |

| NET BOOK VALUE

| At 31 March 2026 | 61,026 |  | - |  | 455,953 |  | 4,136 |  | 521,115 |  |

| At 31 March 2025 | 60,651 |  | 3,532 |  | 582,855 |  | 11,713 |  | 658,751 |  |

11. | STOCKS

2026 | 2025 |

| £ | £

| Stock | 624,972 |  | 758,986 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

12. | DEBTORS

2026 | 2025 |

| £ | £

| Amounts falling due within one year:

| Trade debtors | 3,434,589 |  | 3,642,457 |  |

| Amounts owed by group undertakings | 4,158,825 |  | 3,000,000 |  |

| Other debtors, prepayments and

| accrued income | 326,306 |  | 68,106 |  |

| Taxation | 1,135,000 |  | - |  |

9,054,720 |  | 6,710,563 |  |

| Amounts falling due after more than one year:

| Other debtors | 100,000 |  | 100,000 |  |

| Aggregate amounts | 9,154,720 |  | 6,810,563 |  |

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

2026 | 2025 |

| £ | £

| Payments on account | 7,510 |  | 84,398 |  |

| Trade creditors | 766,650 |  | 1,373,710 |  |

| Amounts owed to group undertakings | 3,097,990 |  | 1,757,411 |  |

| Corporation tax | - |  | 481,206 |  |

| Social security and other taxes | 109,115 |  | 77,125 |  |

| VAT | 707,673 |  | 456,207 |  |

| Other creditors | 3,090 |  | 15,072 |  |

| Accruals and deferred income | 519,269 |  | 75,950 |  |

5,211,297 |  | 4,321,079 |  |

14. | LEASING AGREEMENTS

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

2026 | 2025 |

| £ | £

| Between one and five years | 176,308 |  | 169,678 |  |

| The company currently has an annual operating lease commitments of £149,747 (2025: £149,747) for the various premises from which it operates. The leases, at inception, are typically 3-5 years in duration with break clauses.

15. | PROVISIONS FOR LIABILITIES

2026 | 2025 |

| £ | £

| Deferred tax

| Accelerated capital allowances | 124,256 |  | 159,458 |  |

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued

for the year ended 31 March 2026

15. | PROVISIONS FOR LIABILITIES - continued

Deferred tax |

| £

| Balance at 1 April 2025 | 159,458 |  |

| Credit to Income Statement during year | (35,202 | ) |

| Balance at 31 March 2026 | 124,256 |  |

| Deferred tax has been provided using a rate of 25% (2025: 25%).

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

value: |  | £ | £

| 100 | Ordinary | £1 | 100 |  | 100 |  |

17. | RESERVES

Retained |

earnings |

| £

| At 1 April 2025 | 4,498,689 |  |

| Profit for the year | 2,659,626 |  |

| At 31 March 2026 | 7,158,315 |  |

18. | ULTIMATE PARENT COMPANY

| UI Utility Infrastructure Holdco Limited, incorporated in England and Wales, is the immediate parent company of Andawes Limited and UI TopCo Limited, incorporated in Jersey, is regarded as the ultimate parent company as at 31 March 2026. Andawes Limited remained the immediate parent company of Jones Lighting Limited.

| The smallest and largest group in which the results of Jones Lighting Limited are consolidated is headed by United Infrastructure Limited, a company incorporated in England and Wales. The financial statements of United Infrastructure Limited maybe obtained from Building 4 Clearwater, Lingley Green Avenue, Great Sankey, Warrington, Cheshire WA5 3UZ.

| At the date of approval of these financial statements the Company is ultimately controlled by funds managed by Apollo Impact Mission Fund, L.P. a Delaware Limited Partnership on the basis that it holds a controlling interest in the voting rights of the share capital of UI TopCo Limited.

19. | RELATED PARTY DISCLOSURES

| During the year the company purchased goods and services for £nil (2025: £242,697) from Brandspark Commercials Limited and sold goods and services to Brandspark Commercials Limited for £nil (2025: £75,089 (2024: £nil). A director of this company, Mr DS Jones, is also a director of Brandspark Commercials Limited. At the year end the balances due to / from Brandspark Commercials Limited was £nil (2025: £nil). The amounts charged and paid were the normal market rates for such goods and services.