REGISTERED NUMBER: |
U POWER LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
U POWER LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024 |
U POWER LIMITED (REGISTERED NUMBER: 12297800) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 December 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
U POWER LIMITED |
COMPANY INFORMATION |
for the period 1 December 2022 to 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
U POWER LIMITED (REGISTERED NUMBER: 12297800) |
BALANCE SHEET |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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 were approved by the director and authorised for issue on |
U POWER LIMITED (REGISTERED NUMBER: 12297800) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 December 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
U Power Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts are prepared on the going concern basis. The director will support the company during the initial trading periods. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs. |
Financial liabilities are classified depending on the substance of the contractual arrangements entered into. |
Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price. |
Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire. |
Taxation |
Taxation for the period comprises current 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 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 balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
U POWER LIMITED (REGISTERED NUMBER: 12297800) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 December 2022 to 31 March 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
Loans owing to U Energy (Yorkshire) Limited of £263,206 (2022 - £171,846) were outstanding at the year end, a company whose majority shareholder is U Energy Group Limited. U Energy Group Limited is also the majority shareholder of U Power Limited. The amounts are repayable on demand. |
Loans owing to minority shareholders of £20,000 (2022 - £20,000) were outstanding at the year end, the amounts are repayable on demand. |
7. | GOING CONCERN |
The business is dependant on the continuing support of the holding company. |