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REGISTERED NUMBER: 08913666 (England and Wales)















Unaudited Financial Statements

for the Period 1 March 2023 to 30 April 2024

for

CarbonAi (Cheltenham) Ltd

CarbonAi (Cheltenham) Ltd (Registered number: 08913666)






Contents of the Financial Statements
for the Period 1 March 2023 to 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CarbonAi (Cheltenham) Ltd

Company Information
for the Period 1 March 2023 to 30 April 2024







DIRECTORS: Mr R M Arsenault
Mr B C Watts
Mr N K Marston





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





REGISTERED NUMBER: 08913666 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

CarbonAi (Cheltenham) Ltd (Registered number: 08913666)

Balance Sheet
30 April 2024

30.4.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 4 31,574 24,580
Cash at bank 18,270 568
49,844 25,148
CREDITORS
Amounts falling due within one year 5 10,147 1,200
NET CURRENT ASSETS 39,697 23,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,697

23,948

CREDITORS
Amounts falling due after more than one
year

6

166,249

136,619
NET LIABILITIES (126,552 ) (112,671 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 (126,553 ) (112,672 )
SHAREHOLDERS' FUNDS (126,552 ) (112,671 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2024 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 1 July 2024 and were signed on its behalf by:





Mr N K Marston - Director


CarbonAi (Cheltenham) Ltd (Registered number: 08913666)

Notes to the Financial Statements
for the Period 1 March 2023 to 30 April 2024

1. STATUTORY INFORMATION

CarbonAi (Cheltenham) Ltd 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.

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.

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.

Going concern
The company continues to trade with the support of the operating loan from Drakken Inc. The directors do not consider that there are any going concern issues.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. DEBTORS
30.4.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 7,203 -
VAT 784 266
Prepayments 75 -
8,062 266

Amounts falling due after more than one year:
Operating loan to Drakken UAE 23,512 24,314

Aggregate amounts 31,574 24,580

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 28.2.23
£    £   
Trade creditors 50 -
Social security and other taxes 7,577 -
Pensions payable 958 -
Directors' current accounts 362 -
Accrued expenses 1,200 1,200
10,147 1,200

CarbonAi (Cheltenham) Ltd (Registered number: 08913666)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 28.2.23
£    £   
Operating loan from Drakken Inc. 136,619 136,619
Inter company loan from Carbon Ai
Canada

29,630

-
166,249 136,619

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained
earnings
£   

At 1 March 2023 (112,672 )
Deficit for the period (13,881 )
At 30 April 2024 (126,553 )

9. ULTIMATE CONTROLLING PARTY

Mr R M Arsenault is the ultimate controlling party by virtue of his holding all of the company's issued share capital.