Company registration number 11825531 (England and Wales)
HARVARD POWER SYSTEMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HARVARD POWER SYSTEMS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
HARVARD POWER SYSTEMS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(769,015)
(769,015)
Net current liabilities
(769,015)
(769,015)
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
(869,015)
(869,015)
Total equity
(769,015)
(769,015)

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 October 2024
S Krishnan
Director
Company registration number 11825531 (England and Wales)
HARVARD POWER SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Harvard Power Systems Ltd is a private company limited by shares incorporated on 13th February 2019 in England and Wales. The registered office is First Floor Sheraton House, Lower Road, Chorleywood, Hertfordshire, United Kingdom, WD3 5LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Following the decision to sell the operation and the assets of the company to Venture Lighting Europe Limited in a prior accounting period, and therefore having no trading activity in the current accounting period, the financial statements have been prepared on a basis other than that of going concern; there have been no adjustments to the figures as a result of the change of accounting basis.

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at amortised cost.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
HARVARD POWER SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
764,015
764,015
Other creditors
5,000
5,000
769,015
769,015

On 16th March 2021, the company entered into a fixed and floating charge with FGI Worldwide LLC.

 

On 19th April 2021, the company entered into a fixed charge and negative pledge with FGI Worldwide LLC.

4
Related party transactions

Due to fellow subsidiaries at the Balance sheet date        £17,194 (2023 - £17,194)

Due to Gallant International Inc                £746,822 (2023 - £746,822)

5
Parent company

The immediate parent company is Gallant International Inc, incorporated in the USA.

 

The ultimate parent company is 201 Wickapogue Road LLC.

 

 

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