Company Registration No. 12167681 (England and Wales)
HTCTW Global Limited
Unaudited accounts
for the year ended 31 August 2023
HTCTW Global Limited
Unaudited accounts
Contents
HTCTW Global Limited
Company Information
for the year ended 31 August 2023
Directors
Dr Jason John Blackstock
Robin Alana Kai Heath
Company Number
12167681 (England and Wales)
Registered Office
14 Casbeard Street
London
N4 2GD
United Kingdom
Accountants
Sidgrove
86-90 Paul Street
London
EC2A 4NE
HTCTW Global Limited
Statement of financial position
as at 31 August 2023
Tangible assets
1,179
2,815
Cash at bank and in hand
14,016
9,441
Creditors: amounts falling due within one year
(496,963)
(158,760)
Net current liabilities
(252,689)
(89,724)
Net liabilities
(251,451)
(86,850)
Called up share capital
1,000
1,000
Profit and loss account
(252,451)
(87,850)
Shareholders' funds
(251,451)
(86,850)
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2024 and were signed on its behalf by
Dr Jason John Blackstock
Director
Company Registration No. 12167681
HTCTW Global Limited
Notes to the Accounts
for the year ended 31 August 2023
HTCTW Global Limited is a private company, limited by shares, registered in England and Wales, registration number 12167681. The registered office is 14 Casbeard Street, London, N4 2GD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight Line
Computer equipment
33.33% Straight Line
The prior year comparatives have been updated to correct errors in the prior year filed accounts. Amendments have been made to the following accounts:
- Profit and loss account: -£87,850 (previously: -£18,945)
- Amounts due from group undertakings: £59,236 (previously: £105,589)
- Computer equipment : £4,206 (previously: £2,360)
- Computer equipment accumulated depreciation: £2,016 (previously: £1,965)
- Loans from directors: £155,379 (previously: £131,033)
HTCTW Global Limited
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2022
2,961
4,206
7,167
At 31 August 2023
2,961
4,206
7,167
At 1 September 2022
2,336
2,016
4,352
Charge for the year
625
1,011
1,636
At 31 August 2023
2,961
3,027
5,988
At 31 August 2023
-
1,179
1,179
At 31 August 2022
625
2,190
2,815
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Investments
Other investments
Valuation at 1 September 2022
59
Valuation at 31 August 2023
59
Amounts falling due within one year
Amounts due from group undertakings etc.
229,235
59,236
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
4,232
299
Loans from directors
235,974
155,379
Convertible Loan Notes:
At the Balance Sheet date the other creditors balance includes convertible loan notes totalling £248,130 (2022: £0), with accrued interest of £7,920 (2022: £0). These are unsecured loans, with a 6% annual interest rate and feature a conversion option into shares at a 10% discount during specified events such as capital raises or on its anniversary.
HTCTW Global Limited
Notes to the Accounts
for the year ended 31 August 2023
8
Transactions with related parties
Loan from Directors:
At the Balance Sheet date £235,974 (2022: £155,379) was owed to directors in respect of expenses paid on behalf of the company and other amounts due from the company. The total balance is unsecured, interest-free & repayable on demand.
Loan to Subsidiary:
At the Balance Sheet date, How to Change the World Canada Inc., a fully owned subsidiary of the company, owed the company £229,235 (2022: £59,236). The loan is unsecured, interest-free & repayable on demand.
Convertible Loan Notes:
At the Balance Sheet date, JB Resources Ltd, a company registered in Canada and owned by a relation of one of the Directors, held convertible loans of CAD$250,000 (2022: CAD$0), with accumulated interest of CAD$6,586. This is an unsecured loan, with a 6% annual interest rate and features a conversion option into shares at a 10% discount during specified events such as capital raises or on its anniversary.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).