IRIS Accounts Production v23.3.0.418 04063412 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040634122022-09-30040634122023-09-30040634122022-10-012023-09-30040634122021-09-30040634122021-10-012022-09-30040634122022-09-3004063412ns10:Originalns15:EnglandWales2022-10-012023-09-3004063412ns14:PoundSterlingns10:Original2022-10-012023-09-3004063412ns10:Originalns10:Director12022-10-012023-09-3004063412ns10:Original2022-10-012023-09-3004063412ns10:Original2023-09-3004063412ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004063412ns10:Originalns10:SmallEntities2022-10-012023-09-3004063412ns10:Originalns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3004063412ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004063412ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3004063412ns10:Originalns10:FullAccounts2022-10-012023-09-3004063412ns10:Originalns10:Director22022-10-012023-09-3004063412ns10:CompanySecretary1ns10:Original2022-10-012023-09-3004063412ns10:Originalns10:RegisteredOffice2022-10-012023-09-3004063412ns10:Original2022-09-3004063412ns10:Originalns5:CurrentFinancialInstruments2023-09-3004063412ns10:Originalns5:CurrentFinancialInstruments2022-09-3004063412ns5:ShareCapitalns10:Original2023-09-3004063412ns5:ShareCapitalns10:Original2022-09-3004063412ns10:Originalns5:SharePremium2023-09-3004063412ns10:Originalns5:SharePremium2022-09-3004063412ns10:Originalns5:CapitalRedemptionReserve2023-09-3004063412ns10:Originalns5:CapitalRedemptionReserve2022-09-3004063412ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3004063412ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3004063412ns10:Originalns5:PlantMachinery2022-10-012023-09-3004063412ns10:Originalns5:FurnitureFittings2022-10-012023-09-3004063412ns10:Originalns5:ComputerEquipment2022-10-012023-09-3004063412ns10:Original2021-10-012022-09-3004063412ns10:Originalns5:PlantMachinery2022-09-3004063412ns10:Originalns5:FurnitureFittings2022-09-3004063412ns10:Originalns5:ComputerEquipment2022-09-3004063412ns10:Original2022-09-3004063412ns10:Originalns5:PlantMachinery2023-09-3004063412ns10:Originalns5:FurnitureFittings2023-09-3004063412ns10:Originalns5:ComputerEquipment2023-09-3004063412ns10:Originalns5:PlantMachinery2022-09-3004063412ns10:Originalns5:FurnitureFittings2022-09-3004063412ns10:Originalns5:ComputerEquipment2022-09-3004063412ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3004063412ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: 04063412 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

IDEAL POWER LIMITED

IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDEAL POWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: A B Gouldbourne
A Sarkissian





SECRETARY: Prime Accountants & Business Advisers Limited





REGISTERED OFFICE: 14 Larks Way
Tree Beech Enterprise Park
Gunn
Barnstaple
Devon
EX32 7NZ





REGISTERED NUMBER: 04063412 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
5 Argosy Court
Scimitar Way
Whitley Business Park
Coventry
CV3 4GA

IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,223 4,209

CURRENT ASSETS
Stocks 768,210 924,758
Debtors 5 602,679 536,902
Cash at bank and in hand 250,308 244,028
1,621,197 1,705,688
CREDITORS
Amounts falling due within one year 6 990,435 1,147,113
NET CURRENT ASSETS 630,762 558,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

632,985

562,784

CAPITAL AND RESERVES
Called up share capital 2,850 2,850
Share premium 25,506 25,506
Capital redemption reserve 150 150
Retained earnings 604,479 534,278
SHAREHOLDERS' FUNDS 632,985 562,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





A B Gouldbourne - Director


IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Ideal Power Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 12,350 10,599 25,388 48,337
DEPRECIATION
At 1 October 2022 11,233 10,599 22,296 44,128
Charge for year 329 - 1,657 1,986
At 30 September 2023 11,562 10,599 23,953 46,114
NET BOOK VALUE
At 30 September 2023 788 - 1,435 2,223
At 30 September 2022 1,117 - 3,092 4,209

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 504,444 485,010
Other debtors 98,235 51,892
602,679 536,902

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 181,777 230,724
Amounts owed to group undertakings 548,125 641,173
Taxation and social security 253,421 268,345
Other creditors 7,112 6,871
990,435 1,147,113

IDEAL POWER LIMITED (REGISTERED NUMBER: 04063412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Ideal Power Holdings Limited, registered office 5 Argosy Court, Scimitar Way, Coventry, CV3 4GA.