Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01trueNo description of principal activity11truetrue 13969266 2023-04-01 2024-03-31 13969266 2022-03-10 2023-03-31 13969266 2024-03-31 13969266 2023-03-31 13969266 c:Director1 2023-04-01 2024-03-31 13969266 d:CurrentFinancialInstruments 2024-03-31 13969266 d:CurrentFinancialInstruments 2023-03-31 13969266 d:ShareCapital 2024-03-31 13969266 d:ShareCapital 2023-03-31 13969266 d:RetainedEarningsAccumulatedLosses 2024-03-31 13969266 d:RetainedEarningsAccumulatedLosses 2023-03-31 13969266 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13969266 c:OrdinaryShareClass1 2024-03-31 13969266 c:OrdinaryShareClass1 2023-03-31 13969266 c:EntityHasNeverTraded 2023-04-01 2024-03-31 13969266 c:FRS102 2023-04-01 2024-03-31 13969266 c:Audited 2023-04-01 2024-03-31 13969266 c:FullAccounts 2023-04-01 2024-03-31 13969266 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13969266 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13969266 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13969266











HIGH POWER PETROLEUM (CANADA) UK LTD

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024
















TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
HIGH POWER PETROLEUM (CANADA) UK LTD
REGISTERED NUMBER: 13969266

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 3 
127
127

  
127
127

Total assets less current liabilities
  
 
 
127
 
 
127

  

Net assets
  
127
127


Capital and reserves
  

Called up share capital 
 4 
132
132

Profit and loss account
  
(5)
(5)

  
127
127


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 February 2025.




S H Aitken
Director

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
HIGH POWER PETROLEUM (CANADA) UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

High Power Petroleum (Canada) UK Limited (the "Company") is a private company limited by shares incorporated in England and Wales. The registered office of the Company is 93-95 Gloucester Place, London W1U 6JQ.
The principal activity of the Company is to manage a mining operation and extraction. The Company was not trading in the period.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The Company is, in the short term, wholly dependent on funding from its immediate and ultimate parent companies, High Power Petroleum LLC and Blue Spark Energy Systems Inc (BSES). BSES intend to fund their operations and growth through a combination of operating cash flows and, to a significant extent, proceeds from new private placement equity raises.
BSES is currently engaging with a range of potential investors and is confident that additional finance will be secured within the required timeframe, this is though not wholly within BSES control. Therefore, whilst the directors are confident that the Company has the support of its parent company to continue in operational existence for the foreseeable future and meet its financial obligations, the aforementioned factors indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. The directors have a reasonable expectation that the entity remains a going concern and accordingly, have prepared the financial statements on a going concern basis of accounting.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
HIGH POWER PETROLEUM (CANADA) UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.


3.


Debtors

2024
2023
$
$


Amounts owed by group undertakings
127
127

127
127



4.


Share capital

2024
2023
$
$
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of $0.00132 each
132
132



5.


Related party transactions

The Company has taken advantage of the exemption available under paragraph 33.1A of FRS 102
whereby it has not disclosed transactions with the ultimate parent company or any wholly owned
subsidiary undertakings of the group.


6.


Controlling party

The immediate parent undertaking of the Company is High Power Petroleum LLC, a company
incorporated in the United States of America and registered in the state of Delaware.
As at 31 March 2024, the ultimate parent undertaking and controlling party of the Company is I-Pulse
Inc., a company incorporated in the United States of America and registered in the state of Delaware.
Copies of the accounts of I-Pulse Inc. are available at the parent company's registered office address
from 251 Little Falls Drive, Wilmington, Delaware.
However, following a restructuring after year-end, as of 31 May 2024, the Company is now wholly owned by Blue Spark Energy Systems Inc.

Page 3

 
HIGH POWER PETROLEUM (CANADA) UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Auditor's information

The auditor's report on the financial statements for the period ended 31 March 2024 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. While we did not see anything during our work that indicated that the company and the group of companies would be closed we were unable to obtain sufficient evidence regarding the parent company support or intentions for the entity for at least the next 12 months from the date of approval of these accounts. Our opinion is not modified in respect of this matter

The audit report was signed on 18 February 2025 by Paul Hawksley FCA CTA MAAT (Senior Statutory Auditor) on behalf of TWP Accounting LLP.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. The audit work has been undertaken so that Auditors' might state to the company’s members those matters the Auditors' are required to state in an auditor’s report and for no other purpose. To the fullest extent permitted by law, TWP Accounting LLP will not accept or assume responsibility to anyone other than the company and the company’s members as a body, for the audit work, for the Independent Auditors' Report, or for the opinions formed.


Page 4