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REGISTERED NUMBER: 10292508 (England and Wales)












ALLOTROPE ENERGY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






ALLOTROPE ENERGY LTD (REGISTERED NUMBER: 10292508)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALLOTROPE ENERGY LTD

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: Dr P C Wilson
M E Mitchell





SECRETARY: Dr P C Wilson





REGISTERED OFFICE: Wey Court West
Union Road
Farnham
Surrey
GU9 7PT





REGISTERED NUMBER: 10292508 (England and Wales)





AUDITOR: Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

ALLOTROPE ENERGY LTD (REGISTERED NUMBER: 10292508)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 396,192 85,053

CURRENT ASSETS
Debtors 5 186,805 37,204
Cash at bank 391,637 1,274,521
578,442 1,311,725
CREDITORS
Amounts falling due within one year 6 (82,446 ) (39,683 )
NET CURRENT ASSETS 495,996 1,272,042
TOTAL ASSETS LESS CURRENT
LIABILITIES

892,188

1,357,095

CAPITAL AND RESERVES
Called up share capital 8 230,028 230,028
Other reserves 9 1,492,475 1,492,475
Retained earnings 9 (830,315 ) (365,408 )
SHAREHOLDERS' FUNDS 892,188 1,357,095

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 14 November 2024 and were signed on its behalf by:





Dr P C Wilson - Director


ALLOTROPE ENERGY LTD (REGISTERED NUMBER: 10292508)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Allotrope Energy Ltd 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.

Going Concern

The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The company has adequate resources to continue in operational existence for the foreseeable future.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over the life of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. Given the uncertainty of future activities, deferred tax assets are only recognised up to the level of deferred tax liabilities.

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


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ALLOTROPE ENERGY LTD (REGISTERED NUMBER: 10292508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 - 102,707 5,491 1,849 110,047
Additions 213,914 152,634 24,393 1,731 392,672
At 31 July 2024 213,914 255,341 29,884 3,580 502,719
DEPRECIATION
At 1 August 2023 - 19,876 3,484 1,634 24,994
Charge for year 32,363 44,292 4,421 457 81,533
At 31 July 2024 32,363 64,168 7,905 2,091 106,527
NET BOOK VALUE
At 31 July 2024 181,551 191,173 21,979 1,489 396,192
At 31 July 2023 - 82,831 2,007 215 85,053

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 1 1
Tax 45,042 17,393
VAT 11,949 5,115
Prepayments 43,026 14,695
100,018 37,204

Amounts falling due after more than one year:
Other debtors 86,787 -

Aggregate amounts 186,805 37,204

ALLOTROPE ENERGY LTD (REGISTERED NUMBER: 10292508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 23,453 7,489
Social security and other taxes 2,805 9,298
Other creditors 1,621 324
Directors' current accounts 15,154 20,072
Accrued expenses 39,413 2,500
82,446 39,683

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 96,430 -
Between one and five years 297,326 -
393,756 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
230,010 Ordinary £1 £1 230,010 230,010
1,809,990 Ordinary £0.00001 £0.00001 18 18
230,028 230,028

Each share is entitled to one vote in any circumstances. Each share is entitled pari passu to dividend payments or any other distribution. arising from a winding up of the company.

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 August 2023 (365,408 ) 1,492,475 1,127,067
Deficit for the year (464,907 ) (464,907 )
At 31 July 2024 (830,315 ) 1,492,475 662,160

Other reserves reflects Advanced Subscription funds where the investment funds have been received but the equity shares have not yet been issued. The funds have been treated as equity in accordance with Section 22.7 of FRS 102. Under the terms of the agreement the funds do not constitute a debt in any circumstances.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

A W Hodgetts (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd