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COMPANY REGISTRATION NUMBER: 13817935
Earth Source Hydrogen Limited
Unaudited Financial Statements
31 December 2023
Earth Source Hydrogen Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Directors' report
1
Statement of comprehensive income
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6
Earth Source Hydrogen Limited
Directors' Report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Directors
The directors who served the company during the year were as follows:
Mr DA MacNiven
Mr DW Donald
(Appointed 12 April 2023)
Mr KG Willams
(Appointed 14 February 2023)
Lord M Howard
(Appointed 12 April 2023)
Mr DAJ Biggs
(Appointed 14 February 2023)
Mr LA Van Wachem
(Appointed 14 February 2023)
Events after the end of the reporting period
Particulars of events after the reporting date are detailed in note 8 to the financial statements.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 September 2024 and signed on behalf of the board by:
Mr DAJ Biggs
Director
Registered office:
2nd Floor
55 Ludgate Hill
London
UK
EC4M 7JW
Earth Source Hydrogen Limited
Statement of Comprehensive Income
Year ended 31 December 2023
Period from
Year to
24 Dec 21 to
31 Dec 23
31 Dec 22
Note
£
£
Administrative expenses
136,233
23,462
---------
--------
Operating loss
( 136,233)
( 23,462)
---------
--------
Loss before taxation
( 136,233)
( 23,462)
Tax on loss
---------
--------
Loss for the financial year and total comprehensive income
( 136,233)
( 23,462)
---------
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Earth Source Hydrogen Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors: due within one year
5
8,931
380
Debtors: due after more than one year
5
129,274
Cash at bank and in hand
6,741
15,639
---------
--------
144,946
16,019
Creditors: amounts falling due within one year
6
304,441
16,281
---------
--------
Net current liabilities
159,495
262
---------
----
Total assets less current liabilities
( 159,495)
( 262)
Creditors: amounts falling due after more than one year
7
23,000
---------
--------
Net liabilities
( 159,495)
( 23,262)
---------
--------
Capital and reserves
Called up share capital
200
200
Profit and loss account
( 159,695)
( 23,462)
---------
--------
Shareholders deficit
( 159,495)
( 23,262)
---------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Mr DAJ Biggs
Director
Company registration number: 13817935
Earth Source Hydrogen Limited
Statement of Changes in Equity
Year ended 31 December 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 24 December 2021
Loss for the year
( 23,462)
( 23,462)
----
--------
--------
Total comprehensive income for the year
( 23,462)
( 23,462)
Issue of shares
200
200
----
--------
--------
Total investments by and distributions to owners
200
200
At 31 December 2022
200
( 23,462)
( 23,262)
Loss for the year
( 136,233)
( 136,233)
----
---------
---------
Total comprehensive income for the year
( 136,233)
( 136,233)
----
---------
---------
At 31 December 2023
200
( 159,695)
( 159,495)
----
---------
---------
Earth Source Hydrogen Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2nd Floor, 55 Ludgate Hill, London, EC4M 7JW, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Basic financial instruments are initially recognised at the transaction price. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: Nil).
5. Debtors
Debtors falling due within one year are as follows:
2023
2022
£
£
Other debtors
8,931
380
-------
----
Debtors falling due after one year are as follows:
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
122,381
Other debtors
6,893
---------
----
129,274
---------
----
Amounts owed by group undertakings and undertakings in which the company has a participating interest have no repayment terms and are interest free.
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,892
199
Other creditors
297,549
16,082
---------
--------
304,441
16,281
---------
--------
Other creditors due after more than 1 year are amounts due to directors. These loans are interest free and have no repayment terms. Post year end the directors' loan accounts have been converted in full into new ordinary shares, see note 8 for additional details.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
23,000
----
--------
8. Events after the end of the reporting period
The following non adjusting events have occurred since 31 December 2023; 22 May 2024, the authorised share capital of the company was increased to 1,000,000 ordinary shares of £1 each. 22 May 2024, the directors' loans of £275,801 were converted into 275,801 ordinary shares of £1 each with an additional 102,005 shares of £1 each being issued and fully paid. 7 June 2024 a further 404,000 shares of £1 each were issued and fully paid and 8 July 2024 a further 100,000 shares of £1 each were issued and fully paid.