Registered number
06797576
H2 Powerpod (Research) Ltd (formerly SolarBotanic Ltd)
Filleted Accounts
31 January 2023
H2 Powerpod (Research) Ltd (formerly SolarBotanic Ltd)
Registered number: 06797576
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 100 32,942
Cash at bank and in hand 217 581
317 33,523
Creditors: amounts falling due within one year 4 (91,546) (286,604)
Net current liabilities (91,229) (253,081)
Total assets less current liabilities (91,229) (253,081)
Creditors: amounts falling due after more than one year 5 (250,000) (50,000)
Net liabilities (341,229) (303,081)
Capital and reserves
Called up share capital 100 100
Profit and loss account (341,329) (303,181)
Shareholders' funds (341,229) (303,081)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H J Corrigan, Esq.
Director
Approved by the board on 13 October 2023
H2 Powerpod (Research) Ltd (formerly SolarBotanic Ltd)
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Other debtors 100 32,942
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,000 53,000
Other creditors 62,546 233,604
91,546 286,604
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 250,000 50,000
Included in creditors is £18,938 (2022: £10,811) owing to the director. The loan is interest-free and there is no fixed date of repayment. The director has confirmed that the loan will only be repaid as and when cash flow permits.
6 Events after the reporting date
After the year end, contracts have been signed to manufacture and market a products developed by the company.
7 Going concern
The financial statements have been prepared on a going concern basis, which the director considers appropriate you are. The company is dependent on its creditors to continue in business for the foreseeable future.
8 Related party transactions
Loans have been received from Mrs C Corrigan, the wife of the director. The loans are interest-free with no fixed date of repayment. At the Balance Sheet date, there were amounts due by the company to Mrs C Corrigan of £292,290 (2022: £261,590).
9 Controlling Party
The company is controlled by the director who owns the entire issued share capital of the company.
10 Other information
H2 Powerpod (Research) Ltd (formerly SolarBotanic Ltd) is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
Manor Way
Borehamwood
WD6 1QQ
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