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Registered number: 14311114
Giga Power (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Elementary Accountancy Services Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14311114
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,544 -
18,544 -
CURRENT ASSETS
Debtors 5 12,109 1
Cash at bank and in hand 3 -
12,112 1
Creditors: Amounts Falling Due Within One Year 6 (17,191 ) -
NET CURRENT ASSETS (LIABILITIES) (5,079 ) 1
TOTAL ASSETS LESS CURRENT LIABILITIES 13,465 1
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (4,636 ) -
NET ASSETS 8,829 1
CAPITAL AND RESERVES
Called up share capital 8 2 1
Share premium account 19,999 -
Profit and Loss Account (11,172 ) -
SHAREHOLDERS' FUNDS 8,829 1
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nathan Winch
Director
23/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Giga Power (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14311114 . The registered office is 46 Park Place, Leeds, LS1 2RY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company has made a loss during the year but is a new start up company in the early stages of trading and has the full support of the parent company who is the main creditor. 
2.3. Significant judgements and estimations
No judgements have been used in the process of applying the accounting policies that have had the most significant effect on amounts recognised in the financial statements.
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover relates to the provision of electric vehicle charging at public charging points and is recognised in line with usage of the machines by the customer. 
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes all costs associated with getting the asset to a stage where it is operating as intended. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% straight line
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 -
Additions 30,014
Disposals (10,000 )
As at 31 December 2023 20,014
Depreciation
As at 1 January 2023 -
Provided during the period 2,012
Disposals (542 )
As at 31 December 2023 1,470
Net Book Value
As at 31 December 2023 18,544
As at 1 January 2023 -
5. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 9,800 -
Prepayments and accrued income 2,273 -
Called up share capital not paid - 1
Amounts owed by group undertakings 36 -
12,109 1
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 3,566 -
Accruals and deferred income 840 -
Amounts owed to parent undertaking 12,785 -
17,191 -
Page 4
Page 5
7. Deferred Taxation
Tax losses of £14,574 are available to carry forward to the following period but these have not been provided for in the accounts as there is no certainty of future profits. 
The provision for deferred tax is made up as follows:
31 December 2023 31 December 2022
£ £
Other timing differences 4,636 -
8. Share Capital
31 December 2023 31 December 2022
£ £
Called Up Share Capital not Paid - 1
Called Up Share Capital has been paid up 2 -
Amount of Allotted, Called Up Share Capital 2 1
9. Related Party Transactions
At the year end, £36 was owed from entities under the same control as this entity. These balances are interest free and have no fixed repayment terms. 
Included within Trade Debtors is a balance of £9,800 owed to an entity under the same control as this entity. 
Turnover includes £2,732 of sales to entities under the same control as this entity. 
10. Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is Winch & Co Capital Ltd . Winch & Co Capital Ltd was incorporated in England. The Registered office of Winch & Co Capital Ltd is 46 Park Place, Leeds, England, LS1 2RY
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