Registration number:
Green Power Solutions Limited
for the Year Ended 31 January 2025
Green Power Solutions Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Green Power Solutions Limited
Company Information
Directors |
S Taylor A Shaw I A MacKenzie |
Registered office |
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Green Power Solutions Limited
(Registration number: 11203800)
Balance Sheet as at 31 January 2025
Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
114 |
1 |
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Share premium reserve |
123,946 |
- |
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Retained earnings |
(189,502) |
28 |
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Shareholders' (deficit)/funds |
(65,442) |
29 |
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Green Power Solutions Limited
(Registration number: 11203800)
Balance Sheet as at 31 January 2025
Approved and authorised by the
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Green Power Solutions Limited
Statement of Changes in Equity for the Year Ended 31 January 2025
Share capital |
Share premium |
Retained earnings |
Total |
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At 1 February 2024 |
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- |
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Loss for the year |
- |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 January 2025 |
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|
( |
( |
Share capital |
Retained earnings |
Total |
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At 1 February 2023 |
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|
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Loss for the year |
- |
( |
( |
Dividends |
- |
( |
( |
At 31 January 2024 |
1 |
28 |
29 |
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors acknowledge the company’s net liability position at the balance sheet date and the loss for the year. This result is not unexpected and reflects the infantile stage of the company where cost investment has been high and in advance of sales being realised. A similar trading performance has continued after the balance sheet date. The directors continue to prepare the accounts on the going concern basis however as there is confidence that sales activity will significantly increase and / or further investment will be found, as necessary.
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 February 2024 |
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At 31 January 2025 |
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Amortisation |
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At 1 February 2024 |
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Amortisation charge |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 February 2024 |
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Additions |
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Disposals |
( |
( |
At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Debtors |
Current |
2025 |
2024 |
Trade debtors |
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- |
Prepayments |
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Other debtors |
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Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Creditors |
Creditors: amounts falling due within one year
Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2025 |
2024 |
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Bank borrowings |
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Preference shares classified as debt |
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- |
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Current loans and borrowings
2025 |
2024 |
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Bank borrowings |
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Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Bank borrowings
No security has been provided on the bank loan.
Preference shares
The "A" preference shares consist of 19,531 £0.001 shares issued at a cost of £8.96 per share, with consideration of £175,000.
The "A" preference shares carry a right to vote at meetings. In addition, the "A"preference shares, including the premium and any other amounts owed, will be paid out first on a liquidation or sale. The "A" preference shares are redeemable, at the option of the holder, at a price no less than the original purchase price plus annual interest of 10% accruable since issuance of the shares on the fifth anniversary of the investment.
On balance, the substance of the "A" preference shares are deemed to be a debt instrument and accordingly they have been classified as such.
Share capital |
Allotted, called up and fully paid shares
2025 |
2024 |
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No. |
£ |
No. |
£ |
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114 |
|
1 |
Share capital
During the year, the company firstly consolidated share capital to a nominal value of £1 per ordinary share and issued a further 99 shares.
Following this, the shares were then subdivided by changing the nominal value per ordinary share to £0.001.
13,834 ordinary £0.001 shares were then issued at a cost of £8.96 per share.
These transactions are reflected in the increased share capital and share premium accounts.
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Share capital in debt and equity
2025 |
2024 |
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Ordinary shares £0.001 / (2024: £0.01) (classified as equity) |
114 |
1 |
"A" Preference shares £0.001 (classified as debt) |
175,000 |
- |
175,114 |
1 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Green Power Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Transactions with directors |
2025 |
At 1 February 2024 |
Advances to director |
Repayments by director |
Other payments made to company by director |
At 31 January 2025 |
A Shaw |
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Amounts loaned to director |
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( |
(312) |
( |
S Taylor |
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Amounts loaned to director |
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( |
(312) |
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2024 |
At 1 February 2023 |
Advances to director |
Repayments by director |
At 31 January 2024 |
A Shaw |
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Amounts loaned to director |
( |
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( |
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S Taylor |
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Amounts loaned to director |
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( |
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