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Registration number: 11203800

Green Power Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Green Power Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 14

 

Green Power Solutions Limited

Company Information

Directors

S Taylor

A Shaw

I A MacKenzie

Registered office

Pool Innovation Centre
Trevenson Road
Pool
Redruth
Cornwall
TR15 3PL

 

Green Power Solutions Limited

(Registration number: 11203800)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

34,936

44,802

Tangible assets

5

10,037

3,103

 

44,973

47,905

Current assets

 

Debtors

6

9,584

9,266

Cash at bank and in hand

 

120,034

13,521

 

129,618

22,787

Creditors: Amounts falling due within one year

7

(41,557)

(45,531)

Net current assets/(liabilities)

 

88,061

(22,744)

Total assets less current liabilities

 

133,034

25,161

Creditors: Amounts falling due after more than one year

7

(189,931)

(16,030)

Provisions for liabilities

(8,545)

(9,102)

Net (liabilities)/assets

 

(65,442)

29

Capital and reserves

 

Called up share capital

9

114

1

Share premium reserve

123,946

-

Retained earnings

(189,502)

28

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
S Taylor
Director

.........................................
A Shaw
Director

 

Green Power Solutions Limited

Statement of Changes in Equity for the Year Ended 31 January 2025

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 February 2024

1

-

28

29

Loss for the year

-

-

(189,530)

(189,530)

New share capital subscribed

113

123,946

-

124,059

At 31 January 2025

114

123,946

(189,502)

(65,442)

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

1

28,797

28,798

Loss for the year

-

(12,769)

(12,769)

Dividends

-

(16,000)

(16,000)

At 31 January 2024

1

28

29

 

Green Power Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pool Innovation Centre
Trevenson Road
Pool
Redruth
Cornwall
TR15 3PL

These financial statements were authorised for issue by the Board on 26 February 2025.

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

 

Green Power Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2024

49,328

49,328

At 31 January 2025

49,328

49,328

Amortisation

At 1 February 2024

4,526

4,526

Amortisation charge

9,866

9,866

At 31 January 2025

14,392

14,392

Carrying amount

At 31 January 2025

34,936

34,936

At 31 January 2024

44,802

44,802

 

Green Power Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2024

4,776

4,776

Additions

9,509

9,509

Disposals

(1,041)

(1,041)

At 31 January 2025

13,244

13,244

Depreciation

At 1 February 2024

1,673

1,673

Charge for the year

1,742

1,742

Eliminated on disposal

(208)

(208)

At 31 January 2025

3,207

3,207

Carrying amount

At 31 January 2025

10,037

10,037

At 31 January 2024

3,103

3,103

6

Debtors

Current

2025
£

2024
£

Trade debtors

62

-

Prepayments

2,465

1,911

Other debtors

7,057

7,355

 

9,584

9,266

 

Green Power Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

8,437

7,746

Trade creditors

 

4,117

3,544

Taxation and social security

 

1,478

7,169

Accruals and deferred income

 

1,780

1,750

Other creditors

 

25,745

25,322

 

41,557

45,531

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

189,931

16,030

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

7,639

16,030

Preference shares classified as debt

182,292

-

189,931

16,030

Current loans and borrowings

2025
£

2024
£

Bank borrowings

8,437

7,746

 

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.

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £0.00 (2024 - £0.01) each

113,834

114

100

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
£

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

10

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 £17,739 (2024 - £28,942). The company is financially committed for payments due for two electric vehicles. This financial commitment is secured on the related vehicles.

11

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

Amounts loaned to director

2,813

88

(2,863)

(312)

(274)

S Taylor

Amounts loaned to director

2,687

147

(1,738)

(312)

784

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

A Shaw

Amounts loaned to director

(1,464)

4,589

(312)

2,813

S Taylor

Amounts loaned to director

538

2,999

(850)

2,687