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REGISTERED NUMBER: 12297800 (England and Wales)















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: F S Gohir





REGISTERED OFFICE: Greenfield House
31 East Street
Huddersfield
Yorkshire
HD3 3ND





REGISTERED NUMBER: 12297800 (England and Wales)





ACCOUNTANTS: SMH Sheards
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 41 33,425
Cash at bank and in hand 9,994 2,340
10,035 35,765
CREDITORS
Amounts falling due within one year 5 (289,190 ) (218,916 )
NET CURRENT LIABILITIES (279,155 ) (183,151 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(279,155

)

(183,151

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (279,255 ) (183,251 )
SHAREHOLDERS' FUNDS (279,155 ) (183,151 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 26 November 2024 and were signed by:




F S Gohir - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 2 (2022 - 1 ) .

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 41 33,425

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 567 23,657
Amounts owed to group undertakings 263,206 171,846
Taxation and social security 1,096 1,003
Other creditors 24,321 22,410
289,190 218,916

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.