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REGISTERED NUMBER: 09427524 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29TH FEBRUARY 2024

FOR

AUTOROSE LIMITED

AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUTOROSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: O Hilinskaya
EcoMachines Ventures Limited





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





BUSINESS ADDRESS: 24th Floor
One Canada Square
Canary Wharf
London
London
E14 5AB





REGISTERED NUMBER: 09427524 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 2,501 2,501
Cash at bank 578 578
3,079 3,079
CREDITORS
Amounts falling due within one year 6 (26,414 ) (26,414 )
NET CURRENT LIABILITIES (23,335 ) (23,335 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,335 ) (23,335 )

CREDITORS
Amounts falling due after more than one
year

7

(160,743

)

(139,874

)
NET LIABILITIES (184,078 ) (163,209 )

CAPITAL AND RESERVES
Called up share capital 9 269 269
Share premium 44,473 44,473
Retained earnings (228,820 ) (207,951 )
SHAREHOLDERS' FUNDS (184,078 ) (163,209 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st November 2024 and were signed on its behalf by:





O Hilinskaya - Director


AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Autorose 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net liabilities of £184,078 (2023: £163,209). The financial statements have been prepared on a going concern basis as the directors consider that as Autorose Limited is a hi-tech pre-revenue start up the company's progress in achieving its roadmap progress is satisfactory up to the balance sheet date.

There are continued ongoing fundraising efforts expected to take the company & its product to market. Potential sales channels have been identified and there is ongoing customer interest.

The Board of directors therefore considers the going concern basis of preparation appropriate.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Grant funding
Grant income of a revenue nature is recognised in the profit and loss account in full in the year of receipt.

AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Financial assets and liabilities
The company has chosen to apply the recognition and measurement principles set out in sections 11 and 12 of FRS 102.

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets and liabilities are subsequently carried at amortised cost, using the effective interest rate method.

Other Financial Liabilities
Compound financial instruments issued by the company's parent company comprise convertible loan notes that can be converted to share capital at the option of the holder, and the number of shares to be issued may vary with changes in their fair value.

The liability component of a compound financial instruments is initially recognised at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognised at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component.

Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortised cost using the effective interest method.

The equity component of a compound financial instrument is not re-measured subsequent to initial recognition except on conversion or expiry.

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,501 2,501

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 19,214 19,214
Other creditors 7,200 7,200
26,414 26,414

AUTOROSE LIMITED (REGISTERED NUMBER: 09427524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 160,743 139,874

8. FINANCIAL INSTRUMENTS

Shown within other creditors due in more than one year under note seven to the financial statements are two convertible loans. The principal loan amounts are £60,000 and $25,000 (£20,347 drawn down). Both loans are accruing interest at 10 % plus the Bank of England Base Rate.

The principal loan amounts together with any accrued interest is repayable at any time after the expiry of the first anniversary of the draw down date. The loans may be converted into equity, with the number of ordinary shares issued in settlement being dependant on their fair value at the date of conversion.

The carrying value of the liabilities at the balance sheet date is £160,743 (2023: £139,874) which has been arrived at using a discount factor based on the effective interest rate for an equivalent instrument not containing an equity component.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 269 269

10. RELATED PARTY DISCLOSURES

During the period under review the Company received no interest free advances from its principal investor in respect of the funding of operating expenses.

The balance outstanding at the period end is £25,664 (2023: £25,664) and is disclosed within amounts owed to group undertakings and within creditors due in less than one year.

There is potential for this balance to be converted into equity post year end.