Company Number: 03262305 # **IMPAX ASSET MANAGEMENT GROUP PLC** Interim Financial Statements prepared in accordance with sections 838 and 839 of the Companies Act 2006 Four months ended 31 January 2025 THURSDAY \*ADVACEZE\* A07 27/02/2025 COMPANIES HOUSE #244 # IMPAX ASSET MANAGEMENT GROUP PLC STATEMENT OF COMPREHENSIVE INCOME FOR THE FOUR MONTHS ENDED 31 JANUARY 2025 | | | | Four months ended 31 January | |----------------------------|---------------------------------------|---|------------------------------| | | | | 2025 | | | | 1 | £000 | | · . | | , | | | Revenue | | | 10,596 | | Operating costs | | • | (7,634) | | Dividends received from su | bsidiary undertakings | • | 23,525 | | Finance income | | - | 226 | | Finance expense | | ¥ | (278) | | Profit before taxation | · · · · · · · · · · · · · · · · · · · | | 26,435 | | Tax expense | | | (856) | | Profit for the period | | | 25,579 | | | | | | | Total comprehensive incom | ne for period | | 25,579 | The notes on pages 5 to 7 form part of these financial statements. | STATEMENT OF FINANCIAL POSITION | | | Company No: 03262305 | | | |-------------------------------------|---|----|----------------------|---------------------------------------|---------| | AS AT 31 JANUARY 2025 | | | | • | | | | | | Note | £000 | £000 | | Assets | | • | | | | | Intangible assets | | | 3 | 51 | . 1 | | Property, plant and equipment | • | | . 4 | 2,545 | | | Investments | • | | 5 . | 79,749 | • | | Total non-current assets | | • | | ı | 82,345 | | | • | | | | | | Trade and other receivables | | | , 6 | 15,350 | | | Investments | | | 7 | 17,254 | | | Cash invested in money market funds | | • | | 3,940 | | | Cash and cash equivalents | • | | | 2,001 | • | | Total current assets | | | | | 38,545 | | Total assets | | | | | 120,890 | | | | - | - | · · · · · · · · · · · · · · · · · · · | | | Equity and liabilities | | | | • | | | Ordinary shares | | | 10 | 1,326 | | | Share premium | | • | | 9,291 | | | Merger reserve | | | | 1,533 | , | | Retained earnings | • | | | 99,620 | | | Total equity | , | | | | 111,770 | | and the second second | | • | | | | | Current liabilities | | • | • | • | | | Trade and other payables | | • | 8 | 6,081 | | | Deferred tax liability | | | 9 | 309 | | | Current tax payable | , | ٠. | | 373 | | | Lease liabilities | | • | 4 | 1,022 | | Authorised for issue and approved by the Board on 10 February 2025. The notes on pages 5 to 7 form part of these financial statements. 7,785 1,335 120,890 1,335 Karen Cockburn Total current liabilities Total non-current liabilities Total equity and liabilities Lease liabilities IMPAX ASSET MANAGEMENT GROUP PLC Director IMPAX ASSET MANAGEMENT GROUP PLC STATEMENT OF CHANGES IN EQUITY FOR THE FOUR MONTH PERIOD ENDED 31 JANUARY 2025 | | | | | Retained | Retained | | | |-------------------------------------------|-------------------|---------------|----------------|----------|----------|--|--| | | Share capital | Share premium | Merger reserve | earnings | Total | | | | • | £'000 | £'000 | £'000 | £'000 | £'000 | | | | As at 30 September 2024 | 1,326 | 9,291 | 1,533 | 72,363 | 84,513 | | | | Profit for the period | - | - | - | 25,579 | 25,579 | | | | Transactions with owners | | | • | | * | | | | Tax charge on long-term incentive schemes | • | • | - | (20) | (20) | | | | Cash received on option exercises | | • • | - | _ | | | | | Share based payment charge | · · · · · · · · · | - | - | 1,859 | 1,859 | | | | Acquisition of own shares | - | | 7 | . (161) | (161) | | | | Total transactions with owners | - | • | • | 1,678 | 1,678 | | | | As at 31 January 2025 • | 1,326 | 9,291 | 1,533 | 99,620 , | 111,770 | | | The notes on pages 5-7 form part of these financial statements. $\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$ ## IMPAX ASSET MANAGEMENT GROUP PLC NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE FOUR MONTHS ENDED 31 JANUARY 2025 #### 1 PREPARATION OF INTERIM FINANCIAL STATEMENTS The Company has prepared interim financial statements for the four month period ended 31 January 2025. These financial statements are for the standalone company and are not consolidated accounts. The financial statements are unaudited and do not include all the information required for full annual financial statements. The financial statements have been prepared in accordance with sections 838 and 839 of the Companies Act 2006. This legislation allows the Company to omit information which is not relevant to a proposed distribution. Accordingly only certain notes are included. Furthermore corresponding amounts for the previous financial year are not relevant and are omitted. ## 2 ACCOUNTING POLICIES The principal accounting policies adopted are the same as those set out in the Company's most recent annual financial statements for the year ended 30 September 2024. No new accounting standards that have an impact on the Statement of Comprehensive Income or the Statement of Financial Position were adopted during the period. #### · 3 Intangible assets | | | • • | Software | Total | |-------------------------|-------------|---------------------------------------|----------|-------| | | | • | £000 | £000 | | Cost | | , | | • • | | As at 30 September 2024 | | · · · · · · · · · · · · · · · · · · · | 105 | 105 | | Additions · | | | -29 | 29 | | As at 31 January 2025 | | | 134 | 134 | | Depreciation | | | | • | | As at 30 September 2024 | | | 72 | 72 | | Charge for period | | | 11 | 11 | | As at 31 January 2025 | | | 83 | 83 | | Net book value | | | | | | As at 31 January 2025 | | | 51 | 51 | | As at 30 September 2024 | | | 33 | 33 | ### 4 PROPERTY, PLANT AND EQUIPMENT | , | · · · · | Leasehold | Fixtures,
fittings and | | |-------------------------|--------------------|--------------|---------------------------|---------| | • | Right of use asset | improvements | equipment | , Total | | • | £000 | £000 | £000 | £000 | | Cost | | | | | | As at 30 September 2024 | 5,727 . | 2,357 | 2,081 | 10,165 | | Additions | | | 4 | 4 | | As at 31 January 2025 | 5,727 | 2,357 | 2,085 | 10,169 | | Depreciation | | | • | | | As at 30 September 2024 | 3,659 | 1,810 | 1,786 | 7,255 | | Charge for period | 251 | · 66 | 52 | 369 | | As at 31 January 2025 | 3,910 | 1,876 | 1,838 | . 7,624 | | Net book value | | • | | | | As at 31 January 2025 | 1,817 | 481 | 247 | 2,545 | | As at 30 September 2024 | 2,068 | 547 | 295 | 2,910 | | | | | | | # IMPAX ASSET MANAGEMENT GROUP PLC NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE FOUR MONTHS ENDED 31 JANUARY 2025 ## 4 PROPERTY, PLANT AND EQUIPMENT continued The carrying value of the Group's right of use assets, associated lease liabilities and the movements during the period are set out below. | | Right of use asset | Lease liabilities | |-------------------------|--------------------|-------------------| | | £000 | £000 | | As at 30 September 2024 | 2,068 | 2,863 | | Lease payments | | ` (542) | | Interest expense | • | 36 | | Depreciation charge | . (251) | • | | As at 31 January 2025 | 1,817 | 2,357 | | | Current | 1022 | | | Non-current | 1,335 | The contractual maturities on the undiscounted minimum lease payments under lease liabilities are provided below: | Within one year
Between 1 and 5 years | | At 31 January
2025
£000
1,097
1,377 | |------------------------------------------|---|-------------------------------------------------| | Later than 5 years | • | - ' | | Total undiscounted lease liabilities | | 2,474 | # 5 NON-CURRENT INVESTMENTS Investments held by the Company in subsidiary undertakings are held at cost less any provision for impairment. | | | | | Total | |-------------------------|---|---|------|--------| | | • | , | | £000 | | As at 30 September 2024 | • | • | •• . | 78,148 | | Capital contribution | | | | 1,601 | | As at 31 January 2025 | | | | 79,749 | ## 6 TRADE AND OTHER RECEIVABLES . | | | | | | At 31 January
2025
£000 | |------------------------------------|-----|---|---|-------|---------------------------------------| | Current: | , | | |
• | · · · · · · · · · · · · · · · · · · · | | Amounts owed by Group undertakings | | • | • | | . 12,395 | | Other receivables | | / | | | 2,252 | | Prepayments and accrued income | | | • | | . 703 | | | · - | | | | 15,350 | # 7 CURRENT ASSET INVESTMENTS | | | 0003 | |-------------------------|---|--------| | As at 30 September 2024 | | 15,993 | | Additions | • | 929 | | Disposals | | (13) | | Fair value movements | • | 345 | | As at 31 January 2025 | | 17,254 | ### IMPAX ASSET MANAGEMENT GROUP PLC NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE FOUR MONTHS ENDED 31 JANUARY 2025 # 8 TRADE AND OTHER PAYABLES | • | | At 31 January 2025 | |------------------------------------|---|--------------------| | · | | €000 | | Trade payables | | 135 | | Amounts owed to Group undertakings | | 1,652 | | Taxation and other social security | | . 94 | | Other payables | • | 1,576 | | · Accruals · | | 2,624 | | - | | . 6,081 | # 9 DEFERRED TAX LIABILITY | | Accelerated
capital
allowances
£000 | Pensions
£000 | Investments
£000 | Share-based payment scheme £000 | Total
£000 | |--------------------------------|----------------------------------------------|------------------|---------------------|---------------------------------|---------------| | As at 30 September 2024 | . 82 | (37) | 421 | (261) | 205 | | Charge to equity | • | | - | ` 20 | . 20 | | Charge to the income statement | • . | - | - | 84 ' | 84 | | As at 31 January 2025 | 82 | (37) | 421 | (157) | 309 | # 10 ORDINARY SHARES | , , , | | At 31 January 2025
£000 | |----------------------------------------|--|----------------------------| | Allotted and fully paid | | | | 132,596,554 ordinary shares of 1p each | | 1,326 | # 11 FINANCIAL COMMITMENTS At 31 January 2025 the Company has outstanding commitments to invest up to the following amounts into private equity funds that it manages: €875,044 into Impax New Energy Investors III LP (30 September 2024: €865,366); this amount could be called on in the period to 31 December 2026; and €1,656,793 into Impax New Energy Investors IV SCSp Luxembourg (30 September 2024: €1,802,075); this amount is called on in the period to 31 October