CERES POWER INTERMEDIATE HOLDINGS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and have prepared the financial statements on a going concern basis.”

Group structure

1. CERES POWER INTERMEDIATE HOLDINGS LIMITED · parent
   1. Ceres Power Limited 100% · England and Wales
   2. Ceres Intellectual Property Company Limited 100% · England and Wales
   3. Ceres Power Licence Company Limited 100% · England and Wales
   4. Ceres Holdings International Limited 100% · England and Wales
   5. RFC Power Ltd 100% · England and Wales

Significant events

• “At Shell's Technology Centre in Bangalore, our first megawatt scale demonstrator produced hydrogen at industry-leading efficiency, a major proof point of the cost and performance advantages of high-temperature electrolysis.”
• “After completing its technology transfer programme during 2025, SOEC manufacturing partner DENSO announced in September that it had begun Japan's first demonstration of SOEC hydrogen production at a JERA (Japan's largest power generation company) thermal power station.”
• “The Board approved an operational restructuring of the business to ensure resources are aligned with the Company's strategic priorities.”
• “Exiting non-core activities enabled the Company to focus investment on its core technology platform, ensuring resources were directed towards areas most valuable to licensee partners. In some instances, contract withdrawals resulted in termination fees, which are detailed in the provisions note.”
• “At the half-year the Board noted that RFC Power Limited, of which Ceres held a 24.2% interest, would become insolvent without support. After assessing the potential opportunity, the Board approved exercising an option to acquire the company.”
• “Although we are conscious of the uncertainties arising from the war in Iran and its impact on global energy markets, we start 2026 with strong operational momentum.”
• “Subsequent to the balance sheet date, the Group completed a transaction involving RFC Power Limited which resulted in Ceres Power Intermediate Holdings Limited acquiring an equity interest in RFC Power Limited as part of a wider restructuring and funding transaction.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

3

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.