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Registered number: 09440927
Arctic Power Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 09440927
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,743 2,161
1,743 2,161
CURRENT ASSETS
Stocks 6 32,725 34,483
Debtors 7 37,399 29,980
Cash at bank and in hand 809 2,710
70,933 67,173
Creditors: Amounts Falling Due Within One Year 8 (8,650 ) (17,309 )
NET CURRENT ASSETS (LIABILITIES) 62,283 49,864
TOTAL ASSETS LESS CURRENT LIABILITIES 64,026 52,025
NET ASSETS 64,026 52,025
CAPITAL AND RESERVES
Called up share capital 9 139 139
Share premium account 180,965 180,965
Profit and Loss Account (117,078 ) (129,079 )
SHAREHOLDERS' FUNDS 64,026 52,025
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Ojutkangas
Director
28/05/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Arctic Power Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 09440927 . The registered office is Accelerator London, 35 Kingsland Road, London, E2 8AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 3 years straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 March 2024 4,177
As at 28 February 2025 4,177
Amortisation
As at 1 March 2024 2,016
Provided during the period 418
As at 28 February 2025 2,434
Net Book Value
As at 28 February 2025 1,743
As at 1 March 2024 2,161
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Page 3
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2024 1,860
As at 28 February 2025 1,860
Depreciation
As at 1 March 2024 1,860
As at 28 February 2025 1,860
Net Book Value
As at 28 February 2025 -
As at 1 March 2024 -
6. Stocks
2025 2024
£ £
Finished goods 32,725 34,483
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 27,663 19,778
Prepayments and accrued income 650 500
Other debtors 6,911 6,911
VAT 1,757 2,373
Net wages 9 9
Director's loan account 409 409
37,399 29,980
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 5,275 15,559
Other taxes and social security 1,765 248
Other creditors 110 -
Accruals and deferred income 1,500 1,502
8,650 17,309
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 139 139
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Page 4
10. Directors Advances, Credits and Guarantees
Included within other debtors are the following loans to directors:
As at 1 March 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Miss Anna Ojutkangas 409 - - - 409
The above loan is unsecured, interest free and repayable on demand.
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