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. |
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|
|
|
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 |
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|
After the year end, the company commenced marketing and testing a product developed by the company. |
|
7 |
Going concern |
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|
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. |
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8 |
Related party transactions |
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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). |
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9 |
Controlling Party |
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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 |
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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 |