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

The principal activity of the Company during the year was the provision of advisory services and administrative support to other members of the CFP Energy Group. The Company also acts as agent, acquiring UK Allowances (UKAs) at auction on behalf of the Group.

During the financial period under review the Company registered a loss before tax of £19,012,302 (2025: £11,716,644), the reduction is due to a general decline in European energy consumption, which has contributed to lower profits in the energy risk management group. To mitigate the loss, the company’s parent injected £25.0m of share capital into the company during the year.

The results are considered satisfactory by the directors who expect profitability in the foreseeable future.

Key performance indicators

FY2026 FY2025

Analysis of development and performance

The company has a strong balance sheet with net assets of £13.9m (2025: £3.0m) and views its expanding local presence, superior client service and extensive expertise pivotal to its continued growth and success.

Liquidity risk

This is the risk of the company failing to meet its financial obligations because of insufficient cash being available. This risk comes from unexpected cash outflows or expected inflows that may not materialise. The company monitors its cash position regularly and employs forecasting to ensure it has sufficient cash to meet its operational requirements.

Group risk

Group risk is the risk that the financial position of the company may be adversely impacted by its relationships with other entities in the Group or by risks that may affect the financial position of the whole group. As a member of the group, the company faces the risk that decisions made by the group, or circumstances impacting the group, may either directly or indirectly impact the company. These could include strategic mergers or acquisitions, financial distress, reputational matters or decisions regarding the provision of services made by the company to the group.

Group risk is mitigated by the company's senior management being represented in the group's decision-making body, and by the company having documented contractual arrangements for services with group companies.

Credit risk

In the course of the company's business, trade and other receivables, and other financial assets at amortised cost are exposed to the credit risk of its counterparties, which primarily are group companies.

Given that the company's trade receivables are intercompany receivables from group companies, the credit risk is considered low given the group's financial position and liquidity.

The Company is part of a group headed by CFP Energy Group Ltd. and as such the following statements represent those of the Group as a whole.

The Group has provided environmental solutions to its customers for over 19 years, during which time it has invested in emission reduction projects and products with far-reaching social and economic impacts worldwide, in accordance with UN Sustainable Development Goals (“SDG”s). Since 2019, the Group has engaged in emissions accounting conducted by an independent third party and has continued to maintain a net-zero status for scope 1 emissions.

The Companies (Miscellaneous Reporting) Regulations 2018 ('2018 MRR') require directors to explain how they considered the interests of key stakeholders and the broader matters set out in section 172(1) (A) to (F) of the Companies Act 2006 ('S172') when performing their duty to promote the Company’s success under S172. This S172 statement explains how the directors:

•    engaged with employees, suppliers, customers and others; and

•    took into account its employees’ interests, the need to foster the Company's business relationships with     suppliers, customers and others, and the effect of such consideration, including its impact on the principal     decisions made by the Company during the financial year.

When making decisions, each director ensures that they act in a manner they deem to be, in good faith, and would most likely promote the Company's success for the benefit of its members as a whole, taking into account, among other matters:

S1720) (A) "The likely consequences of any decision in the long term"

Our mission is to enable our customers’ transitions to a sustainable future. At the heart of our decisions and product offerings lies the realisation of the fundamental role we play in securing a viable low-carbon future.

The Group consistently strives to improve sustainability management performance and drive impact. The Group has been awarded the EcoVadis Bronze sustainability awards as a result of its commitment to sustainability.

S1720) (B) "The interests of the Company's employees"

The Group is committed to creating an environment that will attract, retain and motivate the best talent.

The leadership team recognises that their employees are fundamental and core to their business, and the delivery of their ambitions. We are a responsible and inclusive employer, committed to providing a workplace that values differences, where all employees and applicants are entitled to equal employment opportunities within the Group.

The Group upholds responsible and inclusive employment practices across recruitment, hiring, training and compensation, ensuring equal opportunities for all employees and applicant, regardless of any legally protected characteristics. The leadership team regularly updates employees of changes to the business and engages in open forum discussions about how business changes will impact their roles. There is a formalised process of appraisal and review to ensure colleagues feel secure and have opportunities to develop.

S172(1) (C) "The need to foster the Company's business relationships with suppliers, customers and others"

The Group maintains an open conversation and considers new ideas, processes and certifications.

As a Group, we are committed to actively collaborating, engaging, and, when necessary, leading the energy transition dialogue with key industry stakeholders and customers. We maintain regular engagement with regulators and government bodies on policy and regulatory issues, while also educating and informing customers, suppliers, and the broader market through webinars, conferences and key industry events across Europe. These platforms allow us to share insights and provide guidance on best practices for the energy transition.

S1720) (D) "The impact of the Company's operations on the community and the environment"

We have installed a battery for energy storage in our head office to replace the use of a traditional fossil fuel generator in case of a power outage. We invest in or develop carbon projects with specific SDGs which demonstrate social benefits, biodiversity, job opportunities, gender equality and water protection. These projects are created on behalf of our customers with specific ESG and SDG targets and commitments. Our strategy is to develop more projects to control and manage our ESG impact. Furthermore, our participation in EcoVardis serves as a testament to our environmental commitment to our customers.

S172(1) (E) "The desirability of the Company maintaining a reputation for high standards of business conduct"

Throughout the Company’s growth, investments have been made in its employees, operational processes, and support systems. Regular training on financial compliance, anti-bribery and ethics are integral to maintaining the Company’s high standards of business conduct.

The Group boasts a leadership team with a wealth of experience in finance, structuring, risk, legal and regulatory affairs. This ensures that the Group upholds ethical standards and adheres to all relevant laws and regulations.

S172(1) (F) "The need to act fairly as between members of the Company"

The Group has a written diversity and inclusion policy statement in place and provides training on discrimination and diversity laws across all management levels. The Group’s efforts include raising awareness of institutional inequalities and biases, and fostering a culture which recognises the benefits of a diverse and inclusive workforce. Critical assessment of existing culture, recruitment processes, and ad-hoc initiatives, are in place to improve diversity and inclusion.

Section 172 – Stakeholder Engagement

In an increasingly volatile energy market, the board remains deeply committed to ensuring all stakeholders are supported. Our solutions are not just for today but innovate for the future. The board strongly believes that the Group will only prosper by working collaboratively with customers, governments, business partners, investors and other stakeholders to achieve a viable low-carbon future. Working together is critical for the future and stakeholder needs are at the heart of all our decision making.

This strategic report is made by the directors in good faith based on the information available to them up to the time of their approval of this report. Such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the company's contractual and other legal obligations.

As the Company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• 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.

We have audited the financial statements of CFP Energy (UK) Ltd. (the 'company') for the year ended 31 March 2026 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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 March 2026 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 directors' report.

We have nothing to report in respect of the following matters in relation to which 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.

As explained more fully in the directors' responsibilities statement, 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 is 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.

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 an auditor's report 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.

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.

• 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 financial services 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 Financial Conduct Authority (FCA), Companies Act 2006, taxation legislation, anti-bribery, and anti-money-laundering 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.

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;

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

• understanding the design of the company’s remuneration policies.

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;

• assessed whether judgements and assumptions made in determining the accounting estimates as set out in note 2 were indicative of potential bias; and

• investigated the rationale behind significant or 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 FCA and reviewing the company’s compliance monitoring procedures and findings.

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. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s member 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 member, those matters we are required to state to the member in an auditor's report 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 member, for our audit work, for this report, or for the opinions we have formed.

CFP Energy (UK) Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 245 Hammersmith Road, London, United Kingdom, W6 8PW. The company's principal activities and nature of its operations are disclosed in the directors' report.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

• inclusion of an explicit and unreserved statement of compliance with IFRS;

• presentation of a statement of cash flows and related notes;

• disclosure of the objectives, policies and processes for managing capital;

• disclosure of key management personnel compensation;

• disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;

• the effect of financial instruments on the statement of comprehensive income;

• disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;

• comparative narrative information and;

• related party disclosures for transactions with the parent or wholly owned members of the group.

Where required, equivalent disclosures are given in the group accounts of CFP Energy Group Ltd. The group accounts of CFP Energy Group Ltd. are available to the public and can be obtained as set out in note 26.

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents the amounts receivable.

Revenue is derived from group companies for the provision of administrative and advisory services, under a transfer pricing policy, incorporating contractual cost-plus pricing agreements.

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents 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.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

Financial assets are written off against the expected credit losses when the Company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof.

The company considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that financial assets that meet either of the following criteria are generally not recoverable:

• When there is a breach of financial covenants by the debtor

• Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including companies in the group in full.

The company writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over one year past due, whichever occurs sooner. Any recoveries made are recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event and it is probable that the company will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently adjusted for remeasurements of the lease liability and applies the relevant cost model, fair value model or revaluation model as set out within the accounting policies for the applicable asset class. Where the cost model is applied, the asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, and is periodically reduced by impairment losses, if any.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is reassessed at each financial period end to reflect lease modifications and any changes to the factors considered at initial measurement, as set out above. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

Any contract entered into, which contains an identified asset, whose use the company has the right to direct throughout the period of the lease, and the right to obtain substantially all the economic benefits from, is accounted for as a lease.

At the lease commencement date, the company recognises a right-of-use asset and a lease liability on the statement of financial position. The lease liability is measured at the present value of the total lease payments due, discounted using the interest rate implicit in the lease if readily available, or at the company's incremental borrowing rate. The right-of-use asset is measured at cost, being the lease liability, plus any initial direct costs incurred by the company, or lease payments made in advance of the commencement date.

Right-of-use assets are depreciated on a straight-line basis to the end of the lease term. The company assesses the right-of-use asset for impairment when such indicators exist. Lease liabilities are remeasured to reflect any reassessment or modification of the lease - when the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use leased asset, or in the statement of comprehensive income if the asset is already reduced to zero.

The lease term is the non-cancellable period of the lease together with periods covered by an option to extend the lease where the company is reasonably certain to exercise that option and periods covered by an option to terminate the lease where the company is reasonably certain not to exercise that option. The company accounts for leases with a lease term of less than 12 months as short term leases.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

The Company makes estimates in determining the recoverable amount of investments in associates based on estimates of the underlying assets in those companies. The estimates used considers the carrying value of the assets held in associates and forecasted cashflows expected to arise over a 5 years from the balance sheet date at the end of each reporting period.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

Property, plant and equipment includes right-of-use assets, designated land & buildings leasehold as follows:

The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

Details of the company's associates at 31 March 2026 are as follows:

The company holds members capital in the above named limited liability partnerships. Under the LLPs deed of adherence the company does not have significant influence over the operating and financial policies of the entities. Accordingly, the investments are not classed as being that of a subsidiary or associate.

The directors consider that the carrying amount of trade and other receivables is approximately equal to their fair value.

The company calculated the expected credit loss of its receivables in accordance with IFRS 9. The company determined provisioning for £423,853 (2025: £359,793) of expected credit loss should be presented in these financial statements.

In determining the recoverability of a receivable, the company considers any change in the credit quality of the receivable from the date credit was initially granted up to the reporting date. 

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

The Company hold two office leases. Payments represent rentals payable by the Company for its head office.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

The deferred tax asset set out above is expected to reverse and relates to temporary timing differences.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

There were no post balance sheet events.

The company has taken advantage of the exemptions provided by Section 8 of FRS 101 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transactions is wholly owned by a member of that group.

At the balance sheet date, the company was owed £970,820 (2025: was owed £1,987,964) by CFP Energy Group Ltd. the ultimate parent company registered in England and Wales. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £1,844,663 (2025: was owed £1,202,878) by CFP Energy RMS Ltd., the Company’s immediate parent company, under common control of the ultimate parent company, registered in England and Wales. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £Nil (2025: owed £2,595) to CF Partners (UK) LLP, an entity, incorporated in England and Wales, under the common control of the directors. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed CFP Energy Limited, a connected company, under common control of the parent company, incorporated and registered in Jersey, a total of £3,210,691 (2025: owed £19,407,009). The amount owed is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed CFP Energy (NL) BV, a connected company, under common control of the parent company, incorporated and registered in Netherlands, a total of £812,713 (2025: owed £266,427). The amount owed is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £17,429,629 (2025: was owed £3,347,476) by CFP Commodities Limited, a connected company, under the control of the parent company, incorporated in Ireland. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £140,904 (2025: was owed £72,784) by CFP Energy (ES) S.L. a connected company, under the control of the parent company, incorporated in Spain. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £91,892 (2025: was owed £58,251) by CFP Energy (IT) S.R.L a connected company, under the control of the parent company, incorporated in Italy. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £490,375 (2025: was owed £490,375) by Canopy Carbon Ltd. a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £Nil (2025: was owed £51,859) by Define Energy GmbH a connected company, under the control of the parent company, incorporated in Switzerland. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £318,813 (2025: was owed £318,813) by CFP Energy International Ltd. a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £358,776 (2025: was owed £258,929) by Centrii (UK) Ltd. a connected company, under the control of the parent company, incorporated in England and Wales. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £1,470,836 (2025: was owed £12,092,043) by CFP Trading Limited, an entity incorporated and registered in Malta and under the control of the ultimate parent. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £Nil (2025: owed £341,711) to CFP Commodities MEA DMCC, an entity incorporated and registered in Dubai and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £810,739 (2025: owed £776,629) to Cleantec Development APC, an entity incorporated and registered in Jersey and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £874,754 (2025: owed £837,950) to Cleantec Development PCC, an entity incorporated and registered in Jersey and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £81,766 (2025: owed £78,326) to Cleantec Development BPC, an entity incorporated and registered in Jersey and under the control of the parent company. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £772,484 (2025: owed £194,467) to CFP Energy (Poland) sp. Z.o.o an entity incorporated in Poland and under the common control of the parent company. The amount is unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £1,623,557 (2025: was owed £1,051,141) by Brook Green Trading Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £3,151,997 (2025: was owed £3,100,420) by Brook Green Supply Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £Nil (2025: was owed £11,507) by BGI Trading Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company was owed £8,850 (2025: was owed £9,134) by BGI Limited, a company incorporated and registered in England & Wales under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £18,924 (2025: owed £Nil) to CFP Energy (PL) sp. Z.o.o., a company incorporated in Poland and under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

At the balance sheet date, the company owed £72,567 (2025: owed £Nil) to CFP Energy Europe B.V, a company incorporated in Netherlands and under common control of the parent company. The amounts are unsecured, interest free and repayable on demand.

The Company's immediate parent company, is CFP Energy RMS Ltd., a company incorporated in England and Wales. The ultimate parent undertaking and controlling party is CFP Energy Group Ltd. ("The Parent"), a company incorporated in England and Wales.

CFP Energy Group Ltd. is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 31 March 2026. The consolidated financial statements of The Parent are available from 245 Hammersmith Road, London, England W6 8PW.

The Company is a guarantor to a group loan facility agreement between The Parent and a third-party totalling €125m (2025: €70m) . The Company has not made any payments under the guarantee.

The directors consider the likelihood of the guarantee being called upon to be remote, and therefore, no provision has been made in these financial statements. The Company has credit insurance to potentially mitigate its risk.