ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: 09377661

SOLARPORT SYSTEMS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

SOLARPORT SYSTEMS LIMITED

COMPANY INFORMATION

Directors	Gemma Buckley
	Mark Noel
	Christy Tattershall
	David Tattershall
	Jade Tattershall
	Liam Tattershall
	Louise Tattershall


Registered number	09377661


Registered office	Unit 3 The Core
	Gore Cross Business Park
	Bridport
	Dorset
	DT6 3FH

SOLARPORT SYSTEMS LIMITED

CONTENTS

	Page
Strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 8
Statement of income and retained earnings	9
Statement of financial position	10 - 11
Statement of cash flows	12 - 13
Analysis of net debt	14
Notes to the financial statements	15 - 36

SOLARPORT SYSTEMS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

Introduction

Solarport Systems Limited is the leading UK solar infrastructure partner, designer and manufacturer of solar mounting systems. The company delivers critical components for their projects, from high profile utility-scale solar generation to commercial and domestic installations.

Business review

The directors are pleased to present the review of the business for the year ended 31 January 2026 and of the position of the company at the end of the year. The intention is to portray balanced and comprehensive summary of the development and performance of the company consistent with the size of and relatively uncomplicated nature of the business against the background of any risks and uncertainties that may exist. In doing so, the directors have taken into account only such facts and circumstances of which they are aware at the date of this report.

There has been no change in the principal activity of the company.

The company operates out of three sites. The Head Quarters based in Bridport, and an R&D and training facility in Yeovil. A new manufacturing facility is also being set up in Halesowen.

In the year to 31 January 2026 total revenues fell by 10% versus the previous year. This was driven by delays in the UK market caused by Gate 2 grid reform. This reform carried over into Financial Year 31 January 2027, however the Directors are confident that this will be an expanding market in the UK as the country strives to increase electricity generation from renewable sources, in line with the policy of striving for Net Zero by 2035, and also by the company increasing its domestic market share.

Principal risks and uncertainties

The main risks and uncertainties for the business relate to:

• The political risk caused by the government changing direction on driving the country towards renewable energy and achieving Net Zero within a given timeframe;
• The volatility of material prices which form a significant part of total costs of the mounting systems; and
• Tariff, quota and CBAM regulations that impact both the supply and cost of steel.

The company undertakes regular reviews of the principle risks facing the business and, whenever possible, processes are put in place to monitor and minimise such risks.

The Directors give the highest priority to the safety and welfare of our colleagues and the public. We continue to strive for a reduction in accidents and the severity of those accidents through promotion of safe working practices and awareness.

The company continues to hold relevant quality, environmental and health and safety standards of ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018.

Efforts continue across company to reduce its environmental impact. During the year, the company continued innovating its designs to reduce the level of embedded carbon in the company’s products. The company is also working with those key partners for a further decarbonisation on a global scale.

Page 1

SOLARPORT SYSTEMS LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Financial key performance indicators

The key objectives of the company are to achieve growth in operating profit, through focus on Gross Margin expansion and improved cost control. The company is committed to delivering the highest standards of customer service and to continuous improvement in all aspects of the business. The relevant key financial performance indicators are turnover and operating profit.

   2026 2025

Turnover 40,068,779 44,308,974

Operating Profit 1,660,710 3,169,107

Other key performance indicators

The company also considers the amount of delivered system Megawatts (MW) as a key driver of future turnover. As the market expands rapidly, individual projects are also expanding quickly. To be able to highlight an increasing installed base is critical, giving the final Key Performance Indicator as MW delivered

2026 2025

MW Delivered 834 925

This report was approved by the board and signed on its behalf.

Liam Tattershall

Director

Date: 29 October 2026

Page 2

SOLARPORT SYSTEMS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

The directors present their report and the financial statements for the year ended 31 January 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,564,677 (2025 - £2,467,125).

The total distribution of dividends for the year ended 31 January 2026 was £100,020.

Directors

The directors who served during the year were:

Gemma Buckley

Mark Noel

Christy Tattershall

David Tattershall

Jade Tattershall

Liam Tattershall

Louise Tattershall

Page 3

SOLARPORT SYSTEMS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Future developments

The directors are optimistic that, following the conclusion of the Gate 2 grid reform, the market for solar mounting will continue to grow rapidly and that the company will share in that growth and the directors are optimistic about the company’s future prospects.

Following the year end the company took a majority share in SPS PowerBuild Limited. This new subsidiary operates in an adjacent market, providing installation of solar mounting systems.

The company is also outfitting its new Halesowen production facility to undertake roll-forming of product. From October 2026 this will enable an improvement in margin, and a reduction in emissions.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Liam Tattershall

Director

Date: 29 October 2026

Page 4

SOLARPORT SYSTEMS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLARPORT SYSTEMS LIMITED

Opinion

We have audited the financial statements of Solarport Systems Limited (the 'Company') for the year ended 31 January 2026, which comprise the Statement of income and retained earnings, the Analysis of net debt, the Statement of financial position, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 January 2026 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 5

SOLARPORT SYSTEMS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLARPORT SYSTEMS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

SOLARPORT SYSTEMS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLARPORT SYSTEMS LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the risk of material misstatement due to non-compliance with laws and regulations and fraud by obtaining an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the determination of material amounts and disclosures in the financial statements such as the UK reporting framework, UK company law and UK tax legislation. Other laws and regulations that are fundamental to the operating aspects of the business include employment law, data protection, contract law and health and safety legislation;

Specifically in respect of fraud we discussed with management and those charged with governance areas in which the entity was susceptible to fraud and whether there were any instances of known, suspected or alleged fraud. We also assessed the ability of internal controls to mitigate the risk of fraud.

We assessed the risk of non-compliance with laws and regulations by:

- Making enquiries of management and those charged with governance concerning actual and potential litigation or claims;

- Reading meeting minutes for evidence of discussions which may indicate potential litigation and claims;

- Reviewing the company's records for evidence of legal costs which may indicate non-compliance with laws and regulations; and

- Considering the effectiveness of internal controls to mitigate such risks.

We assessed the risk of material misstatement in respect of irregularities and fraud as follows:

- Enquiring of management concerning actual and potential instances of fraud, as well assessing areas in the financial statements that are at risk of material misstatement due to fraud;

- Assessing the risk of management override of controls via a review of accounting entries, estimates and the testing of journal entries;

- Seeking explanations and evidence for any significant transactions outside the normal course of business;

- Performing analytical procedures to identify any unusual relationships that may indicate risks of material misstatement due to fraud;

- Testing fraud risk of revenue recognition by testing revenue to source documentation; and

- Maintaining professional scepticism and challenging explanations provided by management.

Page 7

SOLARPORT SYSTEMS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLARPORT SYSTEMS LIMITED (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Cattermole BA FCA (Senior statutory auditor)

for and on behalf of

Xeinadin Audit Limited

Chartered Accountants

Statutory Auditors

Wadebridge House

16 Wadebridge Square

Dorchester

Dorset

DT1 3AQ

29 October 2026

Page 8

SOLARPORT SYSTEMS LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 JANUARY 2026

	2026	2025
Note	£	£


Turnover	4	40,068,779	44,308,974
Cost of sales		(30,934,386)	(35,461,056)
Gross profit		9,134,393	8,847,918
Distribution costs		(1,182,470)	(903,598)
Administrative expenses		(6,238,075)	(4,772,978)
Other operating charges		(53,138)	(2,235)
Operating profit	5	1,660,710	3,169,107
Interest receivable and similar income		116,647	46,749
Interest payable and similar expenses	10	(44,286)	(85,561)
Profit before tax		1,733,071	3,130,295
Tax on profit	11	(168,394)	(663,170)
Profit after tax		1,564,677	2,467,125



Retained earnings at the beginning of the year	3,407,992	1,250,247
	3,407,992	1,250,247
Profit for the year	1,564,677	2,467,125
Dividends declared and paid	(100,020)	(309,380)
Retained earnings at the end of the year	4,872,649	3,407,992

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of income and retained earnings.

The notes on pages 15 to 36 form part of these financial statements.

Page 9

SOLARPORT SYSTEMS LIMITED

REGISTERED NUMBER: 09377661

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	13		420,013		42,619
Tangible assets	14		2,157,593		1,829,804
			2,577,606		1,872,423
Current assets
Stocks	15	8,933,919		4,285,446
Debtors: amounts falling due after more than one year	16	-		641,432
Debtors: amounts falling due within one year	16	3,294,256		2,911,555
Cash at bank and in hand	17	1,427,760		3,796,442
		13,655,935		11,634,875
Creditors: amounts falling due within one year	18	(9,930,075)		(8,775,020)
Net current assets			3,725,860		2,859,855
Total assets less current liabilities			6,303,466		4,732,278
Creditors: amounts falling due after more than one year	19		(158,811)		(396,745)
Provisions for liabilities
Deferred tax	22	(504,817)		(360,594)
Other provisions	23	(767,089)		(566,847)
			(1,271,906)		(927,441)
Net assets			4,872,749		3,408,092

Capital and reserves
Called up share capital	24	100	100
Profit and loss account	25	4,872,649	3,407,992
		4,872,749	3,408,092

Page 10

SOLARPORT SYSTEMS LIMITED

REGISTERED NUMBER: 09377661

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JANUARY 2026

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Liam Tattershall

Director

Date: 29 October 2026

The notes on pages 15 to 36 form part of these financial statements.

Page 11

SOLARPORT SYSTEMS LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	1,564,677	2,467,125
Adjustments for:
Amortisation of intangible assets	48,087	4,735
Depreciation of tangible assets	279,518	248,646
Loss on disposal of tangible assets	-	14,971
Interest paid	44,286	85,561
Interest received	(116,647)	(46,749)
Taxation charge	168,394	663,170
(Increase) in stocks	(4,648,473)	(2,887,194)
Decrease/(increase) in debtors	510,222	(1,273,370)
Increase in creditors	2,137,572	4,760,862
Increase in provisions	200,242	566,847
Corporation tax (paid)	(834,930)	(118,388)
Net cash generated from operating activities	(647,052)	4,486,216

Page 12

SOLARPORT SYSTEMS LIMITED

STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

		2026	2025
		£	£



Cash flows from investing activities
Purchase of intangible fixed assets	(425,481)	-
Purchase of tangible fixed assets	(607,307)	(953,453)
Sale of tangible fixed assets	-	7,500
Interest received	114,310	46,749
HP interest paid	(30,572)	(43,410)
Net cash from investing activities	(949,050)	(942,614)
Cash flows from financing activities
Repayment of loans	(490,641)	(58,904)
Other new loans	-	400,000
Repayment of/new finance leases	(168,204)	(175,972)
Dividends paid	(100,020)	(309,380)
Interest paid	(13,715)	(14,151)
Net cash used in financing activities	(772,580)	(158,407)
Net (decrease)/increase in cash and cash equivalents	(2,368,682)	3,385,195
Cash and cash equivalents at beginning of year	3,796,442	411,247
Cash and cash equivalents at the end of year	1,427,760	3,796,442

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,427,760	3,796,442
	1,427,760	3,796,442

The notes on pages 15 to 36 form part of these financial statements.

Page 13

SOLARPORT SYSTEMS LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 JANUARY 2026


At 1 February 2025	Cash flows	Other non-cash changes	At 31 January 2026
£	£	£	£

Cash at bank and in hand	3,796,442	(2,368,682)	-	1,427,760
Debt due after 1 year	(114,831)	-	63,336	(51,495)
Debt due within 1 year	(587,097)	587,097	(82,919)	(82,919)
Finance leases	(450,120)	168,204	-	(281,916)
	2,644,394	(1,613,381)	(19,583)	1,011,430

The notes on pages 15 to 36 form part of these financial statements.

Page 14

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	General information

Solarport Systems Limited is a private company limited by shares incorporated in England and Wales. It has a company number of 09377661 and a registered address of Unit 3 The Core, Gore Cross Business Park, Bridport, Dorset, United Kingdom, DT6 3FH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have made due enquiries (including a detailed review of working capital requirements and near term future contract awards) and conclude that there is a reasonable expectation that the company has adequate resources and backing to continue into the foreseeable future. The Directors consider that there are no material uncertainties that may cast doubt on its ability to operate as a going concern.

Page 15

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.3

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

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.

Page 16

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 17

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Patents	-	10	years
Computer software	-	10	years (Technical wind data)
Computer software	-	3	years (Other)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short-term leasehold property	-	straight line over 10 years
Plant and machinery	-	straight line over 5 to 10 years
Motor vehicles	-	20% reducing balance
Fixtures and fittings	-	straight line over 7 to 10 years
Office equipment	-	straight line over 3 to 7 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 18

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.13

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.

2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not 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.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

2.15

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.

2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 19

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit or loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and

Page 20

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.17

Financial instruments (continued)

loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The Company classifies financial liabilities from its supplier finance arrangements as trade creditors as the arrangements have not substantively changed the payment dates and other contractual terms compared to the underlying trade creditors. The related cash flows are included in operating activities in the cash flow statement

Derecognised assets/liabilities

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Offsetting

Financial assets and liabilities are offset and the net amount presented in the statement of financial position only when the Company has a legally enforceable right to set off the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 21

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgments
The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Valuation of stock
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Costs included apportioned labour and overhead in bringing the stock to its present location and condition.

Key sources of estimation uncertainty

Provision for stock
Stock is reviewed on an ongoing basis and a provision is made where the directors are of an opinion that specific items are slow moving and require write down. As at the year end the directors have no material concerns over the recoverability of the company’s stock balance in note 15.

Tangible fixed assets and depreciation
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing lives, all relevant known factors are taken into account but there is inherent uncertainty in making this assessment.

Provision for warranty
The company offers a 25-year warranty as standard. The warranty expense experience of the company is monitored on a regular basis assessing any claims made against the historical delivery and value of the contract to which any warranty claim relates. At the end of the year the directors determine whether a warranty provision would be required from any claims experience in that financial year. Based on the historical warranty experience and the Directors' best estimate of future outcomes a provision is made in relation to each year's sales where the timing and amount of any liability is uncertain.

In addition, where specific, quantifiable warranty issues have been identified, these are provided in full and included in current liabilities. At the date of approving the financial statements the Directors are satisfied that the provision for warranty is adequate based on the warranty experience in the financial year and previous years.

Page 22

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Turnover

An analysis of turnover by class of business is as follows:
	2026	2025
	£	£

Sale of goods	39,715,349	44,046,212
Sale of services	327,351	236,980
Other sales	26,079	25,782
	40,068,779	44,308,974

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	37,576,124	43,680,430
Rest of Europe	2,492,655	628,544
	40,068,779	44,308,974

	Research & development charged as an expense	515,000	535,727
	Other operating lease rentals	286,930	208,224

Fees payable to the Company's auditors for the audit of the Company's financial statements

41,000

37,000

Page 23

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Wages and salaries	3,196,016	3,013,761
Social security costs	372,461	349,285
Cost of defined contribution scheme	229,754	397,302
	3,798,231	3,760,348

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Production and manufacturing	13	15
Head office and administration	37	25
Directors	6	5

	56	45

8.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	754,897	1,056,795
Company contributions to defined contribution pension schemes	126,175	280,486
Amounts paid to third parties in respect of directors' services	175,200	298,504
	1,056,272	1,635,785

	During the year retirement benefits were accruing to 4 directors (2025 - 6) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £202,240 (2025 - £304,684).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £92,647 (2025 - £13,867).
	The total accrued pension provision of the highest paid director at 31 January 2026 amounted to £7,150 (2025 - £83,647).

Management consider the key management personnel to be the directors of the Company.

Page 24

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

9.	Interest receivable
		2026	2025
		£	£

	Other interest receivable	116,647	46,749
		116,647	46,749

10.	Interest payable and similar expenses
		2026	2025
		£	£

Bank interest payable	4,708	14,151
Other loan interest payable	9,006	28,000
Finance leases and hire purchase contracts	30,572	43,410
	44,286	85,561

Corporation tax
Current tax on profits for the year	303,713	686,432
Adjustments in respect of previous periods	(279,542)	(124,746)
	24,171	561,686

Total current tax	24,171	561,686

Deferred tax
Origination and reversal of timing differences	144,223	101,484
Total deferred tax	144,223	101,484


	Tax on profit	168,394	663,170

Page 25

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.Taxation (continued)

Profit on ordinary activities before tax

1,733,071

3,130,295

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	433,268	782,574
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	9,534	4,048
Capital allowances for year in excess of depreciation	5,134	1,294
Adjustments to tax charge in respect of prior periods	(279,542)	(124,746)
Total tax charge for the year	168,394	663,170

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

12.	Dividends
		2026	2025
		£	£

	Dividends paid	100,020	309,380
		100,020	309,380

Page 26

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

13.	Intangible assets

	Patents	Computer software	Total
	£	£	£
Cost
At 1 February 2025	47,354	-	47,354
Additions	271,135	154,346	425,481
At 31 January 2026	318,489	154,346	472,835
Amortisation
At 1 February 2025	4,735	-	4,735
Charge for the year on owned assets	23,241	24,846	48,087
At 31 January 2026	27,976	24,846	52,822
Net book value
At 31 January 2026	290,513	129,500	420,013
At 31 January 2025	42,619	-	42,619

Page 27

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.	Tangible fixed assets

	Short-term leasehold property	Plant and machinery	Motor vehicles	Office equipment	Assets under construction
	£	£	£	£	£
Cost or valuation
At 1 February 2025	98,870	1,915,417	148,516	177,131	-
Additions	10,904	153,347	-	58,576	384,480
At 31 January 2026	109,774	2,068,764	148,516	235,707	384,480
Depreciation
At 1 February 2025	16,674	388,924	35,682	68,850	-
Charge for the year on owned assets	8,720	120,814	16,661	42,080	-
Charge for the year on financed assets	-	85,337	5,906	-	-
At 31 January 2026	25,394	595,075	58,249	110,930	-
Net book value
At 31 January 2026	84,380	1,473,689	90,267	124,777	384,480
At 31 January 2025	82,196	1,526,493	112,834	108,281	-

Page 28

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.Tangible fixed assets (continued)

		Total
		£
	Cost or valuation
	At 1 February 2025	2,339,934
	Additions	607,307
	At 31 January 2026	2,947,241
	Depreciation
	At 1 February 2025	510,130
	Charge for the year on owned assets	188,275
	Charge for the year on financed assets	91,243
	At 31 January 2026	789,648
	Net book value
	At 31 January 2026	2,157,593
	At 31 January 2025	1,829,804

The net book value of land and buildings may be further analysed as follows:
	2026	2025
	£	£

Short leasehold	84,380	82,196
	84,380	82,196

Page 29

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2026	2025
	£	£


Plant and machinery	551,307	636,644
Motor vehicles	23,622	29,528
	574,929	666,172

15.	Stocks
		2026	2025
		£	£

Raw materials and consumables	7,639,880	3,348,516
Work in progress (goods to be sold)	1,294,039	936,930
	8,933,919	4,285,446

The carrying value of stocks are stated net of impairment losses totalling £73,920 (2025 - £73,920). Impairment losses totalling £nil (2025 - £73,920) were recognised in profit and loss.

16.	Debtors
		2026	2025
		£	£

Due after more than one year
Other debtors	-	641,432
	-	641,432

					2026	2025
					£	£

Due within one year
Trade debtors	1,985,973	1,613,976
Other debtors	309,200	736,096
Prepayments and accrued income	999,083	561,483
	3,294,256	2,911,555

Page 30

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

16.Debtors (continued)

Other debtors due after more than one year includes warranty bonds of £nil (2025 £641,432). In 2025 these were held with Lloyds Bank PLC. In other debtors due within one year £nil (2025 £736,096) relates to performance bonds. In August 2025 new facilities with HSBC UK Bank PLC enabled the ring-fenced cash balances to be returned to the Company. These new arrangements are covered by a charge over the Company’s assets held by HSBC UK Bank PLC. This includes a negative pledge for the bonds issued by Lloyds Bank PLC.

17.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	1,427,760	3,796,442
	1,427,760	3,796,442

18.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	63,336	62,641
Other loans	-	428,000
Trade creditors	5,821,908	2,010,291
Corporation tax	-	561,606
Other taxation and social security	89,790	1,245,135
Obligations under finance lease and hire purchase contracts	174,600	168,206
Other creditors	679,746	2,012,296
Accruals and deferred income	3,100,695	2,286,845
	9,930,075	8,775,020

The obligations under finance leases and hire purchase contracts are secured by a charge over the assets to which the liability relates.

Page 31

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

19.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	51,495	114,831
Net obligations under finance leases and hire purchase contracts	107,316	281,914
	158,811	396,745

Amounts falling due within one year
Bank loans	63,336	62,641
Other loans	-	428,000
	63,336	490,641

Amounts falling due 2-5 years
Bank loans	51,495	114,831
	51,495	114,831

	114,831	605,472

The company took a recovery loan of £250k in December 2021 at an interest rate of 7.3% with monthly repayments until November 2027. It took a second recovery loan of £51k in January 2022 at an interest rate of 9.4% with monthly repayments until December 2027. It also took a bounce back loan of £50k in September 2020 at an interest rate of 2.5% with monthly repayments until August 2026. In November 2024, it took a loan from a supplier of £421k at an interest rate of 10% with repayment made in full in May 2025. No security has been provided for any of these loans.

Page 32

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Within one year	190,143	196,643
Between 1-5 years	112,662	302,805
	302,805	499,448

22.	Deferred taxation

		2026
		£

	At beginning of year	360,594
	Charged to profit or loss	144,223
	At end of year	504,817

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	(539,406)	(430,800)
Pension surplus	34,589	70,206
	(504,817)	(360,594)

The company expectes that the deferred tax liability in respect of accelerated capital allowances will reverse over the useful life of the assets. The deferred tax liability in respect of pensions surplus will reverse in the next accounting period.

Page 33

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

23.	Provisions

		Warranty Provision
		£

	At 1 February 2025	566,847
	Charged to profit or loss	200,242
	At 31 January 2026	767,089

The warranty provision is in respect of the Company's 25 year warranty on its system sales. The figure represents the directors' best estimate of this provision, which is explained in Note 3.

24.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

310 (2025 - 310) Ordinary A shares of £0.10 each	31	31
150 (2025 - 150) Ordinary B shares of £0.10 each	15	15
220 (2025 - 220) Ordinary C shares of £0.10 each	22	22
220 (2025 - 220) Ordinary D shares of £0.10 each	22	22
100 (2025 - 100) Ordinary E shares of £0.10 each	10	10

	100	100

On 5 April 2024 100 Ordinary £1 shares were reclassified as 1,000 Ordinary £0.10 shares. 40 Ordinary A £0.10 shares, 20 Ordinary B £0.10 shares, 20 Ordinary C £0.10 shares and 20 Ordinary D £0.10 shares were then reclassified as Ordinary E £0.10 shares. All shares have full rights with respect to voting, dividends and capital distributions.

25.

Reserves

Profit and loss account

The profit and loss account comprises aggregate profits of the company net of distributions via dividend payments.

Page 34

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

26.	Contingent liabilities

At 31 January 2026 the total value of the performance and warranty bonds issued by Lloyds Bank PLC amounted to £2,192,478 (2025 1,546,029). Of this £168,482 is covered by insurance through UK Export Finance. In August 2025 new facilities with HSBC UK Bank PLC enabled the previously ring-fenced cash balances to be returned to the Company. These new arrangements are covered by a charge over the Company’s assets held by HSBC UK Bank PLC. This includes a negative pledge for the bonds issued by Lloyds Bank PLC.

Bonds due to expire in under one year amount to £1,239,387. Bonds due to expire in more than one year amount to £953,091.

	Contracted for but not provided in these financial statements	327,128	-
		327,128	-

28.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £229,754 (2025 - £397,302). Contributions totalling £138,358 (2025 - £280,822) were payable to the fund at the reporting date and are included in creditors.

Not later than 1 year	336,967	207,362
Later than 1 year and not later than 5 years	549,727	192,850
	886,694	400,212

Page 35

SOLARPORT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

30.	Related party transactions
	During the year, the Company purchased goods and services from a related party controlled by individuals who jointly control the Company totalling £218,469 (2025 - £191,279). The balance outstanding at 31 January 2026 was £1,280 (2025 - £6,473). Individuals with joint control over the Company received dividends of £100,020 (2025 - £309,380).

31.	Post balance sheet events

In February 2026 the company took a majority share in a newly formed subsidiary, SPS Powerbuild Limited. Powerbuild operates in an adjacent market, providing installation of solar mounting systems.

In August 2026 the company agreed a new TradePay facility with HSBC UK Bank plc. The facility is £2,500,000 with a 130-day tenure. The facility is providing additional finance for the new subsidiary as well as for setting up a new production facility in Halesowen, which will achieve production in November 2026.

Page 36