SINQ POWER LIMITED

• ⚠

  Material uncertainty over going concern

  The financial statements of Etihad Topco Limited and group companies have therefore been prepared on a going concern basis with a material uncertainty disclosure. Given the operational and financial interdependence between the company, its fellow subsidiaries, and parent companies, and the obligations of the company as an Obligor, the directors need to consider the going concern of Etihad Topco Limited group on a consolidated basis when concluding on the appropriateness of the going concern basis of preparation for the company. The directors have received a letter of support from Etihad Topco Limited, the parent company, confirming its intention to direct the provision of operational and financial support to the Company and its fellow subsidiaries, based on available resources, for a period of at least twelve months from the date of approval of these financial statements. After due consideration of these circumstances, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence and serve and settle liabilities, including those of the company, for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial statements of Etihad Topco Limited and group companies have therefore been prepared on a going concern basis with a material uncertainty disclosure. Given the operational and financial interdependence between the company, its fellow subsidiaries, and parent companies, and the obligations of the company as an Obligor, the directors need to consider the going concern of Etihad Topco Limited group on a consolidated basis when concluding on the appropriateness of the going concern basis of preparation for the company. The directors have received a letter of support from Etihad Topco Limited, the parent company, confirming its intention to direct the provision of operational and financial support to the Company and its fellow subsidiaries, based on available resources, for a period of at least twelve months from the date of approval of these financial statements. After due consideration of these circumstances, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence and serve and settle liabilities, including those of the company, for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.”

Significant events

• “During 2025, the company incurred exceptional cost of £450k (2024: £nil) which was a non-recurring legal cost in relation the termination of a supplier contract.”
• “The company is in the process of transferring its customers to a strategic partner, who will become their new licensed energy provider. During the current financial year, the company successfully completed the transition of all 'deemed' customers. It has also commenced the transfer of in-contract customers, which is expected to be completed within 12 months from 30 April 2025.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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.