Registration number:
HP1 Technologies Limited
for the Period from 1 February 2023 to 31 August 2023
HP1 Technologies Limited
(Registration number: 09577054)
Balance Sheet as at 31 August 2023
31 August |
31 January |
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Fixed assets |
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Current assets |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
Accruals and deferred income |
( |
( |
( |
( |
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Capital and reserves |
( |
( |
For the financial period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
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HP1 Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
The accounts are presented in UK sterling pounds and rounded to the nearest pound.
Going concern
The balance sheet shows a net liabilities position at 31 August 2023 as the Company has convertible loan note funding. These loan notes will be shown as liabilities until converted into equity.
The going concern basis has been adopted because the Directors believe that sufficient funds will be earned or available to support the business for at least the next twelve months because:
(i) certain directors continue to provide financial support by deferring remuneration and not requiring the repayment of amounts due for services rendered until the Company has sufficient cash resources; and
(ii) profitable license and consultancy fees will be generated on development work for the two subsidiary companies that commercialise the Company’s technology both of which are financially self-sufficient, having completed their own funding rounds within the last twelve months.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £