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REGISTERED NUMBER: 08472429 (England and Wales)










PERPETUAL V2G SYSTEMS LIMITED
TRADING AS
CLAYTON POWER UK

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PERPETUAL V2G SYSTEMS LIMITED
TRADING AS CLAYTON POWER UK

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A G Cooper
P J Roberts





REGISTERED OFFICE: Unit K2
Southpoint Industrial Estate
Clos Marion Foreshore Road
Cardiff
CF10 4LQ





REGISTERED NUMBER: 08472429 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

BALANCE SHEET
31 OCTOBER 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,343 10,100
Investments 6 1 1
3,344 10,101

CURRENT ASSETS
Debtors 7 129,307 262,251
Cash at bank 2,097 269,960
131,404 532,211
CREDITORS
Amounts falling due within one year 8 912,069 1,265,749
NET CURRENT LIABILITIES (780,665 ) (733,538 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(777,321

)

(723,437

)

CREDITORS
Amounts falling due after more than one year 9 (14,460 ) (14,460 )

PROVISIONS FOR LIABILITIES 11 (127,997 ) (127,997 )
NET LIABILITIES (919,778 ) (865,894 )

CAPITAL AND RESERVES
Called up share capital 269 269
Share premium 1,350,026 1,350,026
Retained earnings (2,270,073 ) (2,216,189 )
(919,778 ) (865,894 )

PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

BALANCE SHEET - continued
31 OCTOBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 29 July 2024 and were signed on its behalf by:





A G Cooper - Director


PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Perpetual V2G Systems 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 5 years
Plant and Machinery - 33% on cost
Fixtures and fittings - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements for the time being.

However, the Company income has significantly dropped during the year to 31st October 2023. The income has not improved in 2024 and as a result, the Directors are currently in the process of assessing their options. If sales do not begin to flow through soon and no new investment is found, the Company will face potential liquidation.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 November 2022
and 31 October 2023 22,855
AMORTISATION
At 1 November 2022
and 31 October 2023 22,855
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold Machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 23,440 19,123 15,503 19,479 77,545
DEPRECIATION
At 1 November 2022 16,227 18,419 15,484 17,315 67,445
Charge for year 4,688 346 9 1,714 6,757
At 31 October 2023 20,915 18,765 15,493 19,029 74,202
NET BOOK VALUE
At 31 October 2023 2,525 358 10 450 3,343
At 31 October 2022 7,213 704 19 2,164 10,100

PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 1
NET BOOK VALUE
At 31 October 2023 1
At 31 October 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors (25 ) 131,855
Other debtors 13 13
Serchlo 127,485 127,485
VAT 1,834 -
Prepayments - 2,898
129,307 262,251

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other loans 866,665 854,165
Trade creditors 17,910 19,250
Social security and other taxes - 748
VAT - 214,977
Other creditors 56 56
Directors' current accounts 17,000 -
Accrued expenses 10,438 176,553
912,069 1,265,749

Included in creditors is an amount of £17,000 owed to the directors, this is provided on terms that are interest-free and repayable on demand

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Other creditors 14,460 14,460

PERPETUAL V2G SYSTEMS LIMITED (REGISTERED NUMBER: 08472429)
TRADING AS CLAYTON POWER UK

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Other loans 866,665 854,165

The company's lenders hold the following security:

A debenture over all its property owned now and in the future.

A fixed and floating charge over all its assets and undertakings.

11. PROVISIONS FOR LIABILITIES

Unauthorised payments were taken by a former director and related entity and the company is in the process of undertaking measures to retrieve this money.

12. RELATED PARTY DISCLOSURES

During the year the company made consultancy payments of £Nil to a director and shareholder of the company (2022 £34,100).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PERPETUAL V2G SYSTEMS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perpetual V2G Systems Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Perpetual V2G Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perpetual V2G Systems Limited and state those matters that we have agreed to state to the Board of Directors of Perpetual V2G Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perpetual V2G Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Perpetual V2G Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Perpetual V2G Systems Limited. You consider that Perpetual V2G Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perpetual V2G Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


29 July 2024