REGISTERED NUMBER: 09828399 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

JLEAG Solar 1 Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

5

6,889,556

7,511,855

CURRENT ASSETS

Debtors

6

1,118,455

757,493

Cash at bank

2,260,101

3,339,548

3,378,556

4,097,041

CREDITORS

Amounts falling due within one year

7

(16,101,390

)

(20,423,633

)

NET CURRENT LIABILITIES

(12,722,834

)

(16,326,592

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,833,278

)

(8,814,737

)

PROVISIONS FOR LIABILITIES

-

(289,637

)

NET LIABILITIES

(5,833,278

)

(9,104,374

)

CAPITAL AND RESERVES

Called up share capital

3

3

Share premium

8

7,184,997

7,184,997

Retained earnings

8

(13,018,278

)

(16,289,374

)

SHAREHOLDERS' FUNDS

(5,833,278

)

(9,104,374

)

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

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

The directors acknowledge their responsibilities for:

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

(b)

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2026 and were signed on its behalf by:

Mr G R Bell - Director

1.	STATUTORY INFORMATION

JLEAG Solar 1 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09828399

Registered office:

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

2.	STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "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 previous reporting period was shortened to 9 months to align with a restructure of the business. Due to this change, the prior year comparatives are not entirely comparable.

Going concern

The company's forecasts and projections show that the company expects to be able to continue to operate.

The directors, at the time of approving the financial statements, are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future, a period of not less that 12 months from the date of this report. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Turnover is measured based on electricity generation in the period and applicable tariffs. Turnover is recognised as and when confirmed by the renewable energy FiT Licensee on a quarterly basis and includes an accrual for the revenue due for the period from the last agreed quarter end to the end of the accounting period.

Tangible fixed assets

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

Plant and machinery

-

4% on cost

Taxation

Taxation for the year comprises current 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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2025

15,429,114

Disposals

(10,978

)

At 31 December 2025

15,418,136

DEPRECIATION

At 1 January 2025

7,917,259

Charge for year

616,860

Eliminated on disposal

(5,539

)

At 31 December 2025

8,528,580

NET BOOK VALUE

At 31 December 2025

6,889,556

At 31 December 2024

7,511,855

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

2,072

714,341

Other debtors

1,116,383

43,152

1,118,455

757,493

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

8,275

60,305

Amounts owed to group undertakings

15,983,255

20,176,225

Taxation and social security

490

76,871

Other creditors

109,370

110,232

16,101,390

20,423,633

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2025

(16,289,374

)

7,184,997

(9,104,377

)

Profit for the year

3,271,096

3,271,096

At 31 December 2025

(13,018,278

)

7,184,997

(5,833,281

)

9.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is MGMT Investments Ltd, a limited company incorporated in England. The registered office address of the company is Westminster House, 10 Westminster Road, Macclesfield, Cheshire, United Kingdom, SK10 1BX.

The ultimate parent undertaking is MGMT Holdings SA. It's registered office is Rue Jean L'Aveugle 16, 1148 Luxembourg, Luxembourg.