Company No: 10129647 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	M A Campbell
	W Dryer
	C Troughton

REGISTERED OFFICE	Buffalo Energy Limited
	83 Marylebone High Street
	London
	W1U 4QW
	United Kingdom

COMPANY NUMBER

10129647 (England and Wales)

	Note	2026		2025
		£		£
Fixed assets
Investments	3	11		63
		11		63
Current assets
Debtors	4	825,699		926,930
Cash at bank and in hand	5	135,269		3,771
		960,968		930,701
Creditors: amounts falling due within one year	6	( 1,178,602)		( 763,224)
Net current (liabilities)/assets		(217,634)		167,477
Total assets less current liabilities		(217,623)		167,540
Creditors: amounts falling due after more than one year	7	( 1,201,020)		( 1,240,807)
Net liabilities		( 1,418,643)		( 1,073,267)
Capital and reserves
Called-up share capital	8	50		50
Share premium account		160,188		160,188
Profit and loss account		( 1,578,881 )		( 1,233,505 )
Total shareholders' deficit		( 1,418,643)		( 1,073,267)

For the financial year ending 29 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Buffalo Energy Limited (registered number: 10129647) were approved and authorised for issue by the Board of Directors on 08 September 2026. They were signed on its behalf by:

C Troughton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Buffalo Energy Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Buffalo Energy Limited, 83 Marylebone High Street, London, W1U 4QW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments in subsidiaries and associates are recognised initially at cost, and subsequently assessed for indicators of impairment. Other investments are recognised at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Fixed asset investments

	2026		2025
	£		£
Participating interests	11		11
Other investments and loans	0		52
	11		63

Investments in subsidiaries

	2026
	£
Cost
At 30 April 2025	1,215
At 29 April 2026	1,215
Provisions for impairment
At 30 April 2025	1,215
At 29 April 2026	1,215
Carrying value at 29 April 2026	0
Carrying value at 29 April 2025	0

	Investments in associates		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 30 April 2025	11		52		63
Disposals	0		( 52)		( 52)
At 29 April 2026	11		0		11
Carrying value at 29 April 2026	11		0		11
Carrying value at 29 April 2025	11		52		63

4. Debtors

	2026		2025
	£		£
Amounts owed by associates	816,529		925,370
Prepayments	2,072		1,560
Other debtors	7,098		0
	825,699		926,930

5. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	135,269		3,771

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to joint ventures	64,305		0
Amounts owed to directors	184,428		140,984
Other loans	905,934		603,501
Accruals	5,832		614
Other taxation and social security	17,052		17,052
Other creditors	1,051		1,073
	1,178,602		763,224

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Other loans (secured)	1,201,020		1,240,807

There is an loan of £1,201,020 (2025 - £1,240,807) secured on the shares, assets and related rights of Buffalo Energy Limited in its wholly owned subsidiary Buffalo Solar Limited, to a maximum of £1,200,000. Interest accrues at 12%, compounded quarterly. The loan principal and accrued interest are repayable on 31 December 2028.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 0.01 each	50		50

9. Contingencies

Contingent liabilities

	2026		2025
	£		£
Total contingent liabilities	2,231,074		160,424

Amounts totalling £160,424 previously disclosed as contingent liabilities in 2025 have been included in amounts recognised as creditors in 2026.

Buffalo Energy Limited has guaranteed a loan provided to an associate company, Kwama Energy Limited, in favour of a third party. The outstanding loan value was equivalent to £2,231,074 (2025 - £Nil). The loan charge contains fixed and floating charges on the shares, assets and related rights of Buffalo Energy Limited, including its shares in its wholly owned subsidiary Buffalo Solar Limited, associate Kwama Energy Limited and associate Unika One Wind Farm Limited. The loan principal is guaranteed up to $2,900,000 (£2,131,300). Interest accrues at CME Term SOFR plus 10% per annum. The loan principal and accrued interest are repayable on 24 December 2027.

10. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the company since the financial year.