Registered number
06797576
SolarBotanic (Research) Ltd (formerly H2 Powerpod (Research) Ltd)
Filleted Accounts
31 January 2024
SolarBotanic (Research) Ltd (formerly H2 Powerpod (Research) Ltd)
Registered number: 06797576
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 100 100
Cash at bank and in hand 718 217
818 317
Creditors: amounts falling due within one year 4 (101,520) (91,546)
Net current liabilities (100,702) (91,229)
Total assets less current liabilities (100,702) (91,229)
Creditors: amounts falling due after more than one year 5 (250,000) (250,000)
Net liabilities (350,702) (341,229)
Capital and reserves
Called up share capital 100 100
Profit and loss account (350,802) (341,329)
Shareholders' funds (350,702) (341,229)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H J Corrigan, Esq.
Director
Approved by the board on 24 July 2024
SolarBotanic (Research) Ltd (formerly H2 Powerpod (Research) Ltd)
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Other debtors 100 100
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,000 29,000
Other creditors 90,520 62,546
101,520 91,546
5 Creditors: amounts falling due after one year 2024 2023
£ £
Loan 250,000 250,000
Included in creditors is £26,036 (2023: £18,983) owing to one of the directors. The loan is interest-free and there is no fixed date of repayment. The director has confirmed that the loan will only be repaid as and when cash flow permits.
6 Events after the reporting date
After the year end, the company commenced marketing and testing a product developed by the company.
7 Going concern
The financial statements have been prepared on a going concern basis, which the director considers appropriate. The company is dependent on its creditors to continue in business for the foreseeable future.
8 Related party transactions
Loans have been received from the Trust of Mrs C Corrigan, who is the wife of the director. The loans are interest-free with no fixed date of repayment. At the Balance Sheet date, there were amounts due by the company of £313,290 (2023: £292,590).
9 Controlling Party
The company is controlled by the director, H J Corrigan, Esq., who owns 95% of the issued share capital of the company.
10 Other information
SolarBotanic (Research) Ltd (formerly H2 Powerpod (Research) Ltd) is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
Manor Way
Borehamwood
WD6 1QQ
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