REGISTERED NUMBER: SC795782 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Oxane Energy II Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K J Drage

REGISTERED OFFICE:

Third Floor, Suite 2 Ink Building

24 Douglas Street

Glasgow

G2 7NQ

REGISTERED NUMBER:

SC795782 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

8,435,226

8,812,322

CURRENT ASSETS

Debtors

5

574,749

474,505

Cash at bank

372,755

156,214

947,504

630,719

CREDITORS

Amounts falling due within one year

6

(1,337,210

)

(438,047

)

NET CURRENT (LIABILITIES)/ASSETS

(389,706

)

192,672

TOTAL ASSETS LESS CURRENT LIABILITIES

8,045,520

9,004,994

CREDITORS

Amounts falling due after more than one year

7

(8,089,722

)

(8,089,722

)

NET (LIABILITIES)/ASSETS

(44,202

)

915,272

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,632,217

1,632,217

Retained earnings

(1,676,519

)

(717,045

)

(44,202

)

915,272

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 director acknowledges his 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 director and authorised for issue on 30 September 2026 and were signed by:

K J Drage - Director

1.	STATUTORY INFORMATION

Oxane Energy II Limited is a private company, limited by shares , registered in Scotland. 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.

The accounts have been prepared on a going concern basis as the other group companies have agreed to continue to provide financial support for the foreseeable future to enable the company to meet its liabilities as they fall due.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or if held under lease, over the lease term, whichever is the shorter.

Plant and Machinery - Over the useful life of 23 years

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

8,905,870

Additions

10,251

At 31 December 2025

8,916,121

DEPRECIATION

At 1 January 2025

93,548

Charge for year

387,347

At 31 December 2025

480,895

NET BOOK VALUE

At 31 December 2025

8,435,226

At 31 December 2024

8,812,322

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

13,842

381,677

Amounts owed by group undertakings

436,003

8,140

Other debtors

124,904

84,688

574,749

474,505

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

108,047

234,664

Amounts owed to group undertakings

1,137,604

203,383

Taxation and social security

12,231

-

Other creditors

79,328

-

1,337,210

438,047

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Amounts owed to group undertakings

8,089,722

8,089,722

8.	RELATED PARTY DISCLOSURES

Included within creditors:amounts falling due within one year is a loan of £1,137,704 (2024: £200,058).

Included within creditors:amounts falling due after more than one year is a loan of £8,089,722 (2024: £8,089,722).

The loan bears interest at a fixed rate of 11% per annum.

9.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the company has changed its name from Noventa - Helix Heat & Power II Limited to Oxane Energy II Limited on 10 March 2026.

10.	ULTIMATE CONTROLLING PARTY

The entire share capital of the company is owned by Oxane Energy Holdings Limited (formerly Noventa Helix Holdings Limited), which is incorporated in Scotland.

The ultimate parent undertaking is Ancala Infrastructure Fund, a fund incorporated in Luxembourg.

A copy of the consolidated financial statements can be obtained from the registered office:

46A Avenue John F. Kennedy

Luxembourg

L-1855