Company No: 13321637 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2025		30.04.2025
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	5,785,719		1,193,986
		5,785,719		1,193,986
Current assets
Debtors	5	287,745		184,660
Cash at bank and in hand		43,799		176,591
		331,544		361,251
Creditors: amounts falling due within one year	6	( 9,702)		( 30,496)
Net current assets		321,842		330,755
Total assets less current liabilities		6,107,561		1,524,741
Net assets		6,107,561		1,524,741
Capital and reserves
Called-up share capital	7	6,149,290		1,530,290
Profit and loss account		( 41,729 )		( 5,549 )
Total shareholders' funds		6,107,561		1,524,741

For the financial period ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Falkirk Power Ltd (registered number: 13321637) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Rappaport Director

13 August 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Falkirk Power Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 1 Fore Street Avenue, London, EC2Y 9DT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Reporting period length

The reporting period length has shortened to 8 months.

Prior period adjustment

A prior year adjustment of £1,193,986 was made to reclassify work in progress as a tangible asset due to confirmation that this relates to an asset under construction. There has been no impact on the profit and loss as the tangible asset is still under construction and therefore no depreciation is recorded.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Assets under construction

not depreciated

Tangible fixed assets are reported as assets in the balance sheet if it is likely that there will be future financial benefit for the company and the costs of the asset can be calculated in a reliable manner.

Tangible fixed assets represent the costs of construction battery storage, civil/structural and electrical costs, grid connection, planning and professional fees that are directly attributable to bringing the asset to its location's working condition for its intended use.

Assets under construction are recognised initially at cost and are not depreciated until the asset is available for its intended use.

A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Prior period adjustment

		As previously reported		Adjustment		As restated
Period ended 30 April 2025		£		£		£
Work in progress		1,193,986		(1,193,986)		0
Assets under construction		0		1,193,986		1,193,986

Assets under construction are not depreciated until they are brought into use.

3. Employees

	Period from 01.05.2025 to 31.12.2025		Year ended 30.04.2025
	Number		Number
Monthly average number of persons employed by the company during the period, including directors	5		5

4. Tangible assets

	Assets under construc- tion		Total
	£		£
Cost
At 01 May 2025	1,193,986		1,193,986
Additions	4,591,733		4,591,733
At 31 December 2025	5,785,719		5,785,719
Accumulated depreciation
At 01 May 2025	0		0
At 31 December 2025	0		0
Net book value
At 31 December 2025	5,785,719		5,785,719
At 30 April 2025	1,193,986		1,193,986

5. Debtors

	31.12.2025		30.04.2025
	£		£
Prepayments	9,263		2,100
VAT recoverable	75,817		4,661
Other debtors	202,665		177,899
	287,745		184,660

6. Creditors: amounts falling due within one year

	31.12.2025		30.04.2025
	£		£
Trade creditors	1,872		11,496
Amounts owed to group undertakings	0		19,000
Accruals	7,830		0
	9,702		30,496

7. Called-up share capital

	31.12.2025		30.04.2025
	£		£
Allotted, called-up and fully-paid
6,149,290 Ordinary shares of £ 1.00 each (30.04.2025: 1,530,290 shares of £ 1.00 each)	6,149,290		1,530,290

At the start of the year, the company had 1,530,290 ordinary shares of £1 each in issue. During the year, it issued an additional 4,619,000 ordinary shares of £1 each, bringing the total number of ordinary shares in issue to 6,149,290 as at the balance sheet date. All shares carry equal rights with respect to voting, dividends, and distributions upon winding up.

8. Related party transactions

Where possible, the company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.

9. Securities

The company has granted a fixed charge over certain cash deposits held with HSBC Bank plc as security for banking facilities provided to the company. The company is also subject to a negative pledge which restricts the creation of further security over its assets without the bank’s consent.