REGISTERED NUMBER: 10025507 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

BLACKMEAD ROOFTOP HOLDCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Thames Street Services Limited

D Brooks

REGISTERED OFFICE:

10 Lower Thames Street

London

EC3R 6AF

REGISTERED NUMBER:

10025507 (England and Wales)

FIXED ASSETS

Investments

4

31,060,070

28,278,863

CURRENT ASSETS

Debtors

5

1

1

Cash at bank

-

1,603

1

1,604

CREDITORS

Amounts falling due within one year

6

-

(81,000

)

NET CURRENT ASSETS/(LIABILITIES)

1

(79,396

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,060,071

28,199,467

CREDITORS

Amounts falling due after more than one year

7

(28,151,982

)

(26,303,153

)

NET ASSETS

2,908,089

1,896,314

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

2,908,088

1,896,313

SHAREHOLDERS' FUNDS

2,908,089

1,896,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

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

(b)

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2026 and were signed on its behalf by:

Thames Street Services Limited - Director

1.	STATUTORY INFORMATION

Blackmead Rooftop Holdco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an on-going basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, when, and if, better information is obtained.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included below. Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relates to the following:

Going concern

The directors have adopted the going concern basis in preparing the financial statements. In assessing whether the going concern assumption is appropriate, the directors have taken into account all relevant information about the future.

Investments in subsidiaries

Investments in subsidiary undertakings are held at fair value.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Interest received

Interest received is recognised in the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Reporting period length

These financial statements cover the period from 01/10/2024 to 30/09/2025. The previous financial statements covered the 6 months to 30/09/2024, therefore, the comparatives are not entirely comparable.

Debtors and creditors

Short-term debtors are measured at transaction price, less any impairment.

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Direct subsidiary undertakings

The following were direct subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Class of share

Holding

Blackmead Rooftop 1 Limited

England

Holding company

Ordinary

100%

SPC Acquisitions Limited

England

Holding company

Ordinary

100%

Additional information is as follows:

30 September 2025

30 September 2024

as restated

£

£

Fair value at the start of the period

28,278,863

25,107,342

Disposals in period

(71,188)

-

Loans advanced to subsidiaries

1,665,355

906,338

Unrealised gain on investments at FVTPL

1,187,041

2,265,183

Fair value at the end of the period

31,060,071

28,278,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/25

30/9/24

as restated

£

£

Other debtors

1

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/25

30/9/24

as restated

£

£

Trade creditors

-

81,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/25

30/9/24

as restated

£

£

Amounts owed to group undertakings

28,151,982

26,303,153

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/25

30/9/24

value:

as restated

£

£

1

Ordinary

1

1

1

9.

RESERVES

Retained

earnings

£

At 1 October 2024

1,896,313

Profit for the year

1,011,775

At 30 September 2025

2,908,088

10.	RELATED PARTY DISCLOSURES

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.

11.	ULTIMATE CONTROLLING PARTY

The Company's ultimate parent and controlling entity is Bagnall Energy Limited, a company incorporated in England and Wales. The financial statements of Bagnall Energy Limited, can be obtained from that company's registered office: 10 Lower Thames Street, London, England, EC3R 6AF.