REGISTERED NUMBER: 11975503 (England and Wales)

Evy IP Services Limited

Unaudited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Moat

M J Southworth

S K Underwood

J P Whittaker

REGISTERED OFFICE:

Michael House 35 Chiswell Street

2nd Floor

London

EC1Y 4SE

REGISTERED NUMBER:

11975503 (England and Wales)

ACCOUNTANTS:

UHY Hacker Young (Bham) LLP

9-11 Vittoria Street

Birmingham

B1 3ND

FIXED ASSETS

Intangible assets

4

13,367

50,472

Tangible assets

5

560,523

20,546

Investments

6

937,229

937,229

1,511,119

1,008,247

CURRENT ASSETS

Debtors

7

224,742

141,914

Cash at bank

11,897

32,283

236,639

174,197

CREDITORS

Amounts falling due within one year

8

13,885,813

9,228,673

NET CURRENT LIABILITIES

(13,649,174

)

(9,054,476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,138,055

)

(8,046,229

)

CREDITORS

Amounts falling due after more than one year

9

452,809

-

NET LIABILITIES

(12,590,864

)

(8,046,229

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(12,590,865

)

(8,046,230

)

(12,590,864

)

(8,046,229

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

J W Moat - Director

1.	STATUTORY INFORMATION

Evy IP Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

As the company is in a net liability position at 31st March 2026 the directors have received confirmation that the parent company, Evyve Limited will continue to provide the necessary level of support to enable the company to operate for the 12 months from signing the financial statements. In considering the ability of Evyve Limited to provide any necessary support, the directors have obtained an understanding of Evyve Limited’s financial standing and the support it has received.

Taking all these factors into account, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the 12 months from signing of the financial statements and therefore continue to adopt the going concern basis in preparing the financial statements.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

at varying rates on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally generated software development costs

10 year straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Leases

Accounting policy as a lessee applicable from 1 April 2025

The company leases its head office premises under a property lease with approximately five years remaining. There were no leases at the transition date. The lease liability has been measured based on the fixed rental payments due over the remaining lease term.

The company applies the short-term lease recognition exemption to leases that has a lease term of 12 months or less. Where applicable, the company applies the low-value asset lease exemption.These lease payments are recognised as an expense on a straight-line basis over the lease term.

Other than for short-term leases and leases of low-value assets, the company recognises right-of-use assets representing the right to use the underlying assets and lease liabilities representing obligations to make lease payments.

Right -of-use assets

At the commencement date of the lease, the company recognises a right-of-use asset which is measured at cost. The cost of the right-of-use asset comprises:

-

the amount of the initial measurement of the lease liability

-

lease payments made at or before the commencement date, less any lease incentives received initial direct costs incurred, and

-

amounts recognised in provisions at the commencement date as an estimate of costs to be incurred for restoring the underlying asset to the condition required under the terms of the lease.

Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives.

When impairment indicators exist, the right-of-use asset is assessed for impairment.

Right-of-use assets are presented within the tangible fixed assets line in the statement of financial

position.

Lease liabilities

At the commencement date, the company measures the lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the obtainable borrowing rate as the interest rate implicit in the lease cannot be readily determined. The obtainable borrowing rate is the rate of interest the company would have to pay to borrow, over a similar term, an amount similar to the total undiscounted value of the lease payments included in the measurement of the lease liability.

The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable.

Lease liabilities (cont'd)

The variable payments that are based on a percentage of revenue earned are not considered in calculating the lease liability balance and are recognised in profit or loss when incurred.

In addition, the lease liability is remeasured if there is a change in the lease payments, a change in the lease term, a change in the assessment of an option to purchase the underlying asset or a modification (that is not accounted for as a separate lease).

The lease liability is presented within creditors in the statement of financial position.

Accounting policy as a lessee applicable before 1 April 2025

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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.

New or revised standards or interpretations

Initial application of the Periodic Review 2024 amendments to ‘FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

On 27 March 2024, the FRC issued ‘Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs Periodic Review 2024’. The effective date for most amendments is accounting periods beginning on or after 1 January 2026, with earlier adoption permitted.

The most significant amendments are the replacement of Section 23, now renamed ‘Revenue from Contracts with Customers’, and Section 20 ‘Leases’. The other less significant changes, include a new Section 2A ‘Fair Value Measurement’, uncertain tax positions, business combinations and the revised Section 2 ‘Concepts and Pervasive Principles’ but these do not have a material impact on the company.

The company implemented these changes from 1 April 2025 and used the modified retrospective approach to apply the new Section 23 and Section 20. In applying this approach, comparative information has not been restated, and any retrospective cumulative effect of initial application is recognised as an adjustment to the opening balance of retained earnings.

Revenue

The revised policy introduces the five-step model for revenue recognition, aligning recognition with

the transfer of control rather than risks and rewards. The adoption of this accounting policy change did not result in any adjustment to the company's reported revenue, profit, or net assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2025 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2025

63,090

Additions

15,675

Disposals

(63,090

)

At 31 March 2026

15,675

AMORTISATION

At 1 April 2025

12,618

Amortisation for year

6,007

Eliminated on disposal

(16,317

)

At 31 March 2026

2,308

NET BOOK VALUE

At 31 March 2026

13,367

At 31 March 2025

50,472

5.	TANGIBLE FIXED ASSETS

Leasehold

Improvements

land &

to

Computer

buildings

property

equipment

Totals

£

£

£

£

COST

At 1 April 2025

-

-

49,612

49,612

Additions

580,087

15,000

35,866

630,953

At 31 March 2026

580,087

15,000

85,478

680,565

DEPRECIATION

At 1 April 2025

-

-

29,066

29,066

Charge for year

68,619

1,775

20,582

90,976

At 31 March 2026

68,619

1,775

49,648

120,042

NET BOOK VALUE

At 31 March 2026

511,468

13,225

35,830

560,523

At 31 March 2025

-

-

20,546

20,546

Right-of-use assets, included in the above are as follows:

Leasehold land & buildings

£

COST

At 1 April 2025

-

Transition adjustments

-

At 1 April 2025 (restated)

-

Additions

580,087

At 31 March 2026

580,087

DEPRECIATION

At 1 April 2025

-

Transition adjustments

-

At 1 April 2025 (restated)

-

Charge for year

68,619

At 31 March 2026

68,619

NET BOOK VALUE

At 31 March 2026

511,468

At 1 April 2025 (restated)

-

As explained in note 2, the company adopted the lease accounting amendments to FRS 102 recognising right-of-use assets and corresponding lease liabilities.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 1 April 2025

and 31 March 2026

937,229

NET BOOK VALUE

At 31 March 2026

937,229

At 31 March 2025

937,229

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rightsand shares held

Subsidiary undertakings

2026

2025

Ordinary

100%

100%

Evyve Services Limited

35 Chiswell Street

2nd Floor

London

EC1Y 4SE

England and Wales

Pristine Energy Limited

Michael House

Ordinary

100%

100%

35 Chiswell Street

2nd Floor

London

EC1Y 4SE

England and Wales

Subsidiary undertakings

Evyve Services Limited

The principal activity of Evyve Services Limited is the operation of electric vehicle charging points.

Pristine Energy Limited

The principal activity of Pristine Energy Limited is the construction and installation of electric vehicle charging points.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

(1,039

)

739

Other debtors

95,048

33,310

VAT

25,362

31,705

Prepayments

105,371

76,160

224,742

141,914

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Lease liability

107,365

-

Trade creditors

92,506

86,438

Amounts owed to group undertakings

13,020,937

8,655,379

Social security and other taxes

54,529

42,080

Other creditors

19,270

4,435

Accruals and deferred income

591,206

440,341

13,885,813

9,228,673

At 31 March 2026, the Company was a guarantor in respect of loan facilities made available to other group undertakings. In connection with those facilities, the Company had granted composite debentures containing fixed charges over assets specified in the respective debentures and floating charges over all the property and undertaking of the Company. The debentures also contain negative pledges and secure the present and future obligations and liabilities of the relevant group obligors under the applicable finance documents.

At 31 March 2026, four charges were registered and outstanding: two in favour of Peel L&P Group Finance Limited, created on 31 March 2023 and 29 April 2024; one in favour of Peel Investments Finance Limited, created on 31 March 2025; and one in favour of Peel Finance (UK) Limited, created on 31 March 2025.

On 22 May 2026, after the reporting date, the Company granted two further debentures, one in favour of Peel Investments Finance Limited and one in favour of Peel Finance (UK) Limited. These debentures also contain fixed and floating charges, with the floating charges extending over all the property and undertaking of the Company. At the date of approval of these financial statements, all six registered charges remained outstanding.

No external loan balance under these facilities was recognised by the Company at 31 March 2026.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Lease liability

452,809

-

10.	RELATED PARTY DISCLOSURES

For the comparative year ended 31 March 2025, the company has taken advantage of the exemption permitted by FRS 102 Section 1A from disclosing related party transactions entered into on an arm’s length basis. Transactions with wholly owned companies within the same group have also not been disclosed.

11.	PARENT AND ULTIMATE PARENT UNDERTAKING

The parent company is Evyve Limited, a company incorporated in England and Wales, company number 11656568, registered office Michael House 35 Chiswell Street, 2nd Floor, London, EC1Y 4SE.

The ultimate parent companies of Evyve Limited are Evy Infrastructure Partners Limited and Peel NRE Developments (IOM) Limited.

Evy Infrastucture Partners Limited is a company incorporated in England and Wales, company number 12097912 , registered office Gathurst House 389 Gathurst Road, Orrell, Wigan, WN5 0LL.

Peel NRE Developments (IOM) Limited is a company incorporated in the Isle of Man, company number 007991V. Its ultimate holding company is Tokenhouse Limited, a company incorporated in the Isle Of Man. Tokenhouse Limited is controlled by the 1997 Billown Settlement. The registered office is Ballaman Manor, Ballnahowe Road, Port Erin, IM9 6JF, Isle of Man.