REGISTERED NUMBER: 15923822 (England and Wales)

HOMER RENEWABLES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2025

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

Thames Street Services Limited

Ms D L Brooks

REGISTERED OFFICE:

10 Lower Thames Street

London

EC3R 6AF

REGISTERED NUMBER:

15923822 (England and Wales)

AUDITORS:

Berringers LLP

Chartered Accountants

and Statutory Auditors

3rd Floor, Imperial House

21 - 25 North Street

Bromley

Kent

BR1 1SD

FIXED ASSETS

Investments

4

6,349,933

402,763

CURRENT ASSETS

Debtors

5

57,381

7,001,941

Cash at bank

132,859

-

190,240

7,001,941

CREDITORS

Amounts falling due within one year

6

7,527,964

7,357,816

NET CURRENT LIABILITIES

(7,337,724

)

(355,875

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(987,791

)

46,888

RESERVES

Retained earnings

7

(987,791

)

46,888

SHAREHOLDERS' FUNDS

(987,791

)

46,888

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2026 and were signed on its behalf by:

Thames Street Services Limited - Director

1.	STATUTORY INFORMATION

Homer Renewables 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 (£).

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources, and support from the group, to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Homer Renewables Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Human Capability Foundation, Silverdale Industrial Estate, Silverdale Road, Hayes, London, United Kingdom, UB3 3BL.

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 above.

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.

Turnover

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

Investments in subsidiaries

Investments in subsidiary undertakings are initially recognised at cost, being the fair value of the consideration given, including the carrying value of intercompany loans capitalised through a debt-to-equity conversion.

The directors assess whether the carrying amount of the investment continues to be supported by the underlying value of the subsidiary. Where subsequent transactions, including capital reductions, distributions or other returns of value, indicate that the recoverable amount of the investment is lower than its carrying value, the investment is written down accordingly.

Investments in subsidiary undertakings are subsequently measured at cost less accumulated impairment losses. At each reporting date the company assesses whether there is evidence that an investment is impaired. Where indicators of impairment exist, the recoverable amount of the investment is estimated and the carrying value is reduced to the recoverable amount. Any impairment loss is recognised immediately in profit or loss.

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, loans from fellow group companies and preference

shares that are classified as debt, 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 Statement of Income and Retained Earnings, 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.

Cash and cash equivalents

Cash is represented by deposits with financial intuitions repayable without penalty on notice of more than 24

hours, Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors

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

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

402,763

Additions

6,968,170

Impairments

(1,021,000

)

At 31 December 2025

6,349,933

NET BOOK VALUE

At 31 December 2025

6,349,933

At 31 December 2024

402,763

During the year, the company and it's subsidiaries undertook a loan to equity conversion, followed by a share capital reduction. The resulting investment has been revalued to reflect the distributions made to the ultimate parent.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

-

6,944,736

VAT

-

57,205

Accrued income

57,381

-

57,381

7,001,941

Balances with subsidiary undertakings are repayable on demand, with interest charged at 4% on outstanding balances.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

40,500

-

Amounts owed to group undertakings

7,359,587

7,357,816

VAT

67,139

-

Accrued expenses

60,738

-

7,527,964

7,357,816

Balances with the immediate parent company are repayable on demand and no interest is charged on outstanding balances.

7.

RESERVES

Retained

earnings

£

At 1 January 2025

46,888

Deficit for the year

(1,034,679

)

At 31 December 2025

(987,791

)

CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

2025

2024

Number:

Class:

£

£

1

Ordinary

0.01

0.01

The issued share capital comprises one ordinary share of 1p, fully paid.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Paul Allan BSocSc FCA (Senior Statutory Auditor)

for and on behalf of Berringers LLP

9.	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.

10.	ULTIMATE CONTROLLING PARTY

The Company's ultimate parent and controlling entity is Human Capability Foundation, a company incorporated in England and Wales. The financial statements of Human Capability Foundation, can be obtained from the Company's registered office: Natco Cash & Carry Silverdale Industrial Estate, Silverdale Road, Hayes, London, United Kingdom, UB3 3BL.