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REGISTERED NUMBER: 09189628 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JANUARY 2024

FOR

H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED

H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED

COMPANY INFORMATION
for the Year Ended 30 January 2024







DIRECTORS: W A Lloyd
J H McGregor
T S Dhaliwal





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 09189628 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)

STATEMENT OF FINANCIAL POSITION
30 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 581,735 581,735

CURRENT ASSETS
Debtors 5 97,085 97,085
Cash at bank 18,863 133
115,948 97,218
CREDITORS
Amounts falling due within one year 6 855,863 836,701
NET CURRENT LIABILITIES (739,915 ) (739,483 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(158,180

)

(157,748

)

CREDITORS
Amounts falling due after more than one
year

7

33,490

41,650
NET LIABILITIES (191,670 ) (199,398 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (191,770 ) (199,498 )
SHAREHOLDERS' FUNDS (191,670 ) (199,398 )

H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)

STATEMENT OF FINANCIAL POSITION - continued
30 January 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 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 18 October 2024 and were signed on its behalf by:




W A Lloyd - Director



J H McGregor - Director


H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 January 2024

1. STATUTORY INFORMATION

H2H Alternative Energy Solutions Limited 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.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The Directors report that a third party has been engaged to perform research into building a small scale prototype. The company is reliant on the continued support of its shareholders and certain other creditors to continue product development. These creditors have entered into a formal agreement regarding repayment of amounts due to them which prevents amounts being repaid without the consent of Iceland Limited. In addition, the Directors are working with the a number of foreign investors assist their transition from a fossil fuel provider to a green energy provider having formed a separate Joint Venture with an company manufacturing electrolyers in the USA. The company also continues to engage a number of investors to commercially develop the hydrogen storage technology and consider that a going concern and is an appropriate basis on which to prepare the financial statements

Turnover
Turnover is measured at the fair value of the consideration received or receivable for services provided.

Turnover is recognised when the service has been provided.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 January 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
The following assets and liabilities are classified as financial instruments; Bond investments, Directors' loan accounts, other loans and accruals.

Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, other loans and accruals are initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments that are repayable in more than one year specifically overseas insurance bonds are accounted for initially at fair value which is equal to the transaction price. Any subsequent change fair value is recorded in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS

Fixed assets represent the fair value of overseas insurance bonds which are expected to mature at a future date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 97,085 97,085

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 25,637 25,637
Other creditors 830,226 811,064
855,863 836,701

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 33,490 41,650

Amounts falling due in more than five years:

Repayable by instalments
Other loans repayable in more
than five years by instalments 10,999 17,142
10,999 17,142

H2H ALTERNATIVE ENERGY SOLUTIONS LIMITED (REGISTERED NUMBER: 09189628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 January 2024

8. RELATED PARTY DISCLOSURES

Hydrogen Horizons Ltd
A company registered in Israel in which J H McGregor is a shareholder and director

Included in debtors is £97,045 (2023: £97,045) due from Hydrogen Horizons Ltd.

There are no set repayment terms and no interest has been charged on this balance.

W A Lloyd
Director

Included in creditors is £211,573 (2023: £225,807) due to W A Lloyd.

J H McGregor
Director

Included in creditors is £24,317 (2023: £29,817) due to J H McGregor.

H2H Refrigeration Limited
A company registered in England and Wales in which J H McGregor is a shareholder and director and W A Lloyd is a director

Included in creditors is £60,205 (2023: £61,585) due to H2H Refrigeration Limited,

Iceland Foods Limited
Shareholder

Included in creditors is £143,005 (2023: £143,005) due to Iceland Foods Limited.

There is a formal loan agreement in place between the company and Iceland Foods Limited. The loan agreement states that, whilst the above balance is outstanding, amounts due to certain creditors can not be repaid without the prior written consent of Iceland Foods Limited.

At the reporting date included in creditors is £679,080 (2023: £658,242) which is subject to this covenant. This is inclusive of amounts due to W A Lloyd, J H McGregor and H2H Refrigeration Limited.

Hydrogen Horizons Limited
A company registered in England and Wales in which J H McGregor and W A Lloyd are shareholders and directors.

During the year the company repaid £5,190 (2023: £17,887 was advanced by) to Hydrogen Horizons Limited.

Included in creditors is £28,843 (2023: £34,033) due to Hydrogen Horizons Limited.

This balance is unsecured, there are are no fixed repayment terms and no interest has been charged.