HP1T (Wearables) Limited 11621572 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is manufacture of sports goods. Digita Accounts Production Advanced 6.30.9574.0 true 11621572 2022-11-01 2023-10-31 11621572 2023-10-31 11621572 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 11621572 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 11621572 bus:Micro-entities 2022-11-01 2023-10-31 11621572 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11621572 bus:FilletedAccounts 2022-11-01 2023-10-31 11621572 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11621572 bus:RegisteredOffice 2022-11-01 2023-10-31 11621572 bus:Director1 2022-11-01 2023-10-31 11621572 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11621572 countries:EnglandWales 2022-11-01 2023-10-31 11621572 2022-05-01 2022-10-31 11621572 2022-10-31 11621572 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 11621572 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 11621572

HP1T (Wearables) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

HP1T (Wearables) Limited

(Registration number: 11621572)
Balance Sheet as at 31 October 2023

31 October
2023
£

31 October
2022
£

Current assets

57,824

92,779

Creditors: Amounts falling due within one year

(240,535)

(46,418)

Total assets less current liabilities

(182,711)

46,361

Creditors: Amounts falling due after more than one year

(250,000)

(250,000)

Accruals and deferred income

(1,700)

(2,845)

 

(434,411)

(206,484)

Capital and reserves

(434,411)

(206,484)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
A J Howes
Director

   
     
 

HP1T (Wearables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Nexus
Discovery Way
LEEDS
LS2 3AA

These financial statements were authorised for issue by the Board on 31 July 2024.

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'.

Going concern

The balance sheet shows a net liabilities position at 31 October 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. In forming this view, they have taken into account the Company’s ongoing commercial development activities and an undertaking by its parent company, HP1 Technologies Limited, to provide any necessary additional funding.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).