Momentum Utility Services Limited

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 January 2026

DIRECTORS:

D W Emery

W F Jeffrey

G H Roberts

R H D Wynne

REGISTERED OFFICE:

The Coach House

Itton

Chepstow

NP16 6BP

REGISTERED NUMBER:

11146104 (England and Wales)

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The directors present their strategic report for the year ended 31 January 2026.

REVIEW OF BUSINESS

The Company provides specialist utility, infrastructure and compliance services. Its services include metering, compliance and data services, facilities management, electric vehicle infrastructure, and project management and consultancy.

The Company has strong utility and regulatory knowledge and maintains long-standing relationships with a broad range of clients.

Trading during the current year has been strong and in line with expectations. The Company has continued to invest in lower-carbon services and plans to broaden its service offering during 2026/27.

The Directors believe that demand for cleaner and more energy-efficient homes presents further opportunities for growth. Future demand will depend partly on government policy and support for electric vehicles, air source heat pumps, domestic solar systems and battery storage. The Company expects domestic demand for electric vehicle charging points to support growth in the coming year.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal uncertainties facing the Company relate to the pace of adoption of lower-carbon technologies, including electric vehicle charging infrastructure and solar energy solutions, together with changes in government policy, regulation and energy prices. General economic conditions may also affect customers' investment decisions.

The Directors regularly review market conditions and manage costs and investment carefully. The Company continues to broaden its services and believes it is well placed to respond to demand for utility, compliance and renewable energy services.

KEY PERFORMANCE INDICATORS (KPI'S)

The principal KPI is the efficiency of productive engineering resources, measured by the relationship between operating costs and revenue generation. This is reported as revenue generated per day per engineer.

Supporting KPIs include the number of working days lost due to sickness and absenteeism, together with other workforce productivity and utilisation metrics.

GOING CONCERN

The Directors have reviewed the Company's forecasts and available financial resources and have a reasonable expectation that the Company has adequate resources to continue in operation for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

THIS REPORT WAS APPROVED BY THE BOARD:

R H D Wynne - Director

30 October 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of installation of electricity and gas meters and energy services.

DIVIDENDS

The total distribution of dividends for the year ended 31 January 2026 was £400,000 (2025: £800,000)

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

D W Emery

W F Jeffrey

G H Roberts

R H D Wynne

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

-	make judgements 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

THIS REPORT WAS APPROVED BY THE BOARD:

R H D Wynne - Director

30 October 2026

Qualified opinion

We have audited the financial statements of Momentum Utility Services Limited (the 'company') for the year ended 31 January 2026 which comprise the Profit & Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

-

give a true and fair view of the state of the company’s affairs as at 31 January 2026 and of the company’s 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 qualified opinion

We were not appointed as auditor of the company until after 31 January 2026 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 January 2026, which are included in the balance sheet at £162,251, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

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 Auditor’s 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 UK, including the FRC’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 qualified 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Other matter

The corresponding figures for the year ended 31 January 2025 are unaudited.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, 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.

Arising solely from the limitation on the scope of our work relating to inventory, referred to above:

-

we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

-

we were unable to determine whether adequate accounting records have been kept.

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:

-

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risks of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

The laws and regulations that we determined were most significant to the company were the Companies Act, UK Corporate Tax Laws, Employment Law, Health & Safety Law, Gas Safety (Installation & Use) Regulations, Electricity Act 1989 and Gas Act 1986.

We obtained an understanding of how the company is complying with those laws and regulations by making enquiries to the management, and corroborated these enquiries through our review of legal and professional spend for the year.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, and did not identify any key audit matters relating to irregularities, including fraud. We assessed the effectiveness of internal controls that management has in place to prevent and detect fraud, including testing of manual journals and evaluating the assumptions and judgements made by management in its significant accounting estimates.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Nicholas Matthew Toye FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

Chartered Accountants

Statutory Auditor

30 October 2026

TURNOVER

12,292,965

10,824,450

Cost of sales

(840,271

)

(527,906

)

GROSS PROFIT

11,452,694

10,296,544

Administrative expenses

(10,488,879

)

(8,783,626

)

OPERATING PROFIT

3

963,815

1,512,918

Interest receivable & similar income

9,594

5,760

973,409

1,518,678

Interest payable and similar expenses

4

(113

)

(3,751

)

PROFIT BEFORE TAXATION

973,296

1,514,927

Tax on profit

5

(243,297

)

(378,405

)

PROFIT FOR THE FINANCIAL YEAR

729,999

1,136,522

PROFIT FOR THE YEAR

729,999

1,136,522

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

729,999

1,136,522

FIXED ASSETS

Tangible assets

7

10,944

31,234

CURRENT ASSETS

Stocks

8

162,251

118,737

Debtors

9

1,753,006

1,122,006

Cash at bank

846,268

1,039,344

2,761,525

2,280,087

CREDITORS

Amounts falling due within one year

10

1,695,523

1,555,743

NET CURRENT ASSETS

1,066,002

724,344

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,946

755,578

CREDITORS

Amounts falling due after more than one year

11

-

(3,531

)

PROVISIONS FOR LIABILITIES

13

(2,700

)

(7,800

)

NET ASSETS

1,074,246

744,247

CAPITAL AND RESERVES

Called up share capital

14

1,000

1,000

Retained earnings

15

1,073,246

743,247

SHAREHOLDERS' FUNDS

1,074,246

744,247

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2026 and were signed on its behalf by:

R H D Wynne - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

1,000

406,725

407,725

Changes in equity

Dividends

-

(800,000

)

(800,000

)

Total comprehensive income

-

1,136,522

1,136,522

Balance at 31 January 2025

1,000

743,247

744,247

Changes in equity

Dividends

-

(400,000

)

(400,000

)

Total comprehensive income

-

729,999

729,999

Balance at 31 January 2026

1,000

1,073,246

1,074,246

Cash flows from operating activities

Cash generated from operations

1

597,722

1,653,540

Interest paid

(113

)

(3,751

)

Tax paid

(384,605

)

(142,571

)

Net cash from operating activities

213,004

1,507,218

Cash flows from investing activities

Purchase of tangible fixed assets

(1,770

)

(2,356

)

Interest received

9,594

5,760

Net cash from investing activities

7,824

3,404

Cash flows from financing activities

Loan repayments in year

(13,904

)

(90,629

)

Equity dividends paid

(400,000

)

(800,000

)

Net cash from financing activities

(413,904

)

(890,629

)

(Decrease)/increase in cash and cash equivalents

(193,076

)

619,993

Cash and cash equivalents at beginning of year

2

1,039,344

419,351

Cash and cash equivalents at end of year

2

846,268

1,039,344

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2026

2025

(Unaudited)

£

£

Profit before taxation

973,296

1,514,927

Depreciation charges

22,060

27,288

Finance costs

113

3,751

Finance income

(9,594

)

(5,760

)

985,875

1,540,206

Increase in stocks

(43,514

)

(37,698

)

(Increase)/decrease in trade and other debtors

(631,000

)

33,289

Increase in trade and other creditors

286,361

117,743

Cash generated from operations

597,722

1,653,540

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2026

31/1/26

1/2/25

£

£

Cash and cash equivalents

846,268

1,039,344

Year ended 31 January 2025

31/1/25

1/2/24

(Unaudited)

£

£

Cash and cash equivalents

1,039,344

419,351

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/2/25

Cash flow

At 31/1/26

£

£

£

Net cash

Cash at bank

1,039,344

(193,076

)

846,268

1,039,344

(193,076

)

846,268

Debt

Debts falling due within 1 year

(10,373

)

10,373

-

Debts falling due after 1 year

(3,531

)

3,531

-

(13,904

)

13,904

-

Total

1,025,440

(179,172

)

846,268

1.	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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% straight line

Computer equipment

-

33% - 50% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

2026

2025

(Unaudited)

£

£

Wages and salaries

6,935,880

5,949,388

Social security costs

906,885

660,077

Other pension costs

121,114

113,479

7,963,879

6,722,944

The average number of employees during the year was as follows:

2026

2025

(Unaudited)

Directors

4

4

Employees

127

114

131

118

2026

2025

(Unaudited)

£

£

Directors' remuneration

1,021,854

970,149

Information regarding the highest paid director is as follows:

2026

2025

(Unaudited)

£

£

Emoluments etc

263,024

264,740

3.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

(Unaudited)

£

£

Hire of plant & machinery

389,076

299,328

Depreciation - owned assets

22,060

27,288

Audit fees

15,000

-

Auditors Remuneration for Non Audit

5,695

9,235

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2026

2025

(Unaudited)

£

£

Bank loan interest

113

3,751

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2026

2025

(Unaudited)

£

£

Current tax:

UK corporation tax

248,397

384,605

Deferred tax

(5,100

)

(6,200

)

Tax on profit

243,297

378,405

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2026

2025

(Unaudited)

£

£

Profit before tax

973,296

1,514,927

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

243,324

378,732

Effects of:

Expenses not deductible for tax purposes

-

(360

)

Depreciation in excess of capital allowances

5,073

6,233

Deferred Tax

(5,100

)

(6,200

)

Total tax charge

243,297

378,405

6.

DIVIDENDS

2026

2025

(Unaudited)

£

£

Ordinary shares of £1 each

Paid

400,000

800,000

7.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 February 2025

98,420

10,567

108,987

Additions

-

1,770

1,770

At 31 January 2026

98,420

12,337

110,757

DEPRECIATION

At 1 February 2025

68,954

8,799

77,753

Charge for year

20,703

1,357

22,060

At 31 January 2026

89,657

10,156

99,813

NET BOOK VALUE

At 31 January 2026

8,763

2,181

10,944

At 31 January 2025

29,466

1,768

31,234

8.

STOCKS

2026

2025

(Unaudited)

£

£

Stocks

162,251

118,737

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

(Unaudited)

£

£

Trade debtors

1,735,256

1,104,256

Prepayments and accrued income

17,750

17,750

1,753,006

1,122,006

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

(Unaudited)

£

£

Bank loan (see note 12)

-

10,373

Trade creditors

379,932

228,816

Corporation tax

248,397

384,605

Social security and other taxes

282,013

171,602

VAT

504,165

401,316

Other creditors

42,340

30,533

Directors' loan accounts

199,105

293,648

Accruals and deferred income

39,571

34,850

1,695,523

1,555,743

The bank loan is secured.

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

(Unaudited)

£

£

Bank loan (see note 12)

-

3,531

The bank loan is secured.

12.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

(Unaudited)

£

£

Amounts falling due within one year or on demand:

Bank loans

-

10,373

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

3,531

The bank loan was repayable by instalments with an interest rate of 2.5%. The bank loan is fully repaid as at 31 January 2026.