15 false false false false false false false false true false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 45,000 18,375 4,500 22,875 22,125 26,625 xbrli:pure xbrli:shares iso4217:GBP 12198596 2024-01-01 2024-12-31 12198596 2024-12-31 12198596 2023-12-31 12198596 2023-01-01 2023-12-31 12198596 2023-12-31 12198596 2022-12-31 12198596 core:NetGoodwill 2024-01-01 2024-12-31 12198596 bus:Director1 2024-01-01 2024-12-31 12198596 core:NetGoodwill 2023-12-31 12198596 core:NetGoodwill 2024-12-31 12198596 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12198596 core:PlantMachinery 2023-12-31 12198596 core:FurnitureFittings 2023-12-31 12198596 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 12198596 core:PlantMachinery 2024-12-31 12198596 core:FurnitureFittings 2024-12-31 12198596 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12198596 core:PlantMachinery 2024-01-01 2024-12-31 12198596 core:FurnitureFittings 2024-01-01 2024-12-31 12198596 core:WithinOneYear 2024-12-31 12198596 core:WithinOneYear 2023-12-31 12198596 core:AfterOneYear 2024-12-31 12198596 core:AfterOneYear 2023-12-31 12198596 core:ShareCapital 2024-12-31 12198596 core:ShareCapital 2023-12-31 12198596 core:RetainedEarningsAccumulatedLosses 2024-12-31 12198596 core:RetainedEarningsAccumulatedLosses 2023-12-31 12198596 core:NetGoodwill 2023-12-31 12198596 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12198596 core:PlantMachinery 2023-12-31 12198596 bus:SmallEntities 2024-01-01 2024-12-31 12198596 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12198596 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12198596 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12198596 bus:FullAccounts 2024-01-01 2024-12-31 12198596 core:ComputerEquipment 2023-12-31 12198596 core:ComputerEquipment 2024-12-31 12198596 core:ComputerEquipment 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 12198596
HPWR Ltd
Unaudited financial statements
31 December 2024
HPWR Ltd
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
22,125
26,625
Tangible assets
6
587,178
611,663
---------
---------
609,303
638,288
Current assets
Stocks
133,676
130,816
Debtors
7
2,225
13,054
Cash at bank and in hand
5,551
11,502
---------
---------
141,452
155,372
Creditors: Amounts falling due within one year
8
( 187,341)
( 231,452)
---------
---------
Net current liabilities
( 45,889)
( 76,080)
---------
---------
Total assets less current liabilities
563,414
562,208
Creditors: Amounts falling due after more than one year
9
( 552,881)
( 577,017)
Provisions
Taxation including deferred tax
( 15,643)
( 15,951)
---------
---------
Net liabilities
( 5,110)
( 30,760)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 5,112)
( 30,762)
------
-------
Shareholders deficit
( 5,110)
( 30,760)
------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HPWR Ltd
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 13 June 2025 , and are signed on behalf of the board by:
H Rawlins
Director
Company registration number: 12198596
HPWR Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lound Plant Centre, Jay Lane, Lound, Lowestoft, Suffolk, NR32 5LH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Based upon the continuing support of the director of the company, the financial statements have been prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
over 40 years
Fixtures & fittings
-
over 20 years
Office Equipment
-
over 3 years
Equipment
-
over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 15 (2023: 16 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
45,000
-------
Amortisation
At 1 January 2024
18,375
Charge for the year
4,500
-------
At 31 December 2024
22,875
-------
Carrying amount
At 31 December 2024
22,125
-------
At 31 December 2023
26,625
-------
6. Tangible assets
Freehold property
Fixtures & Fittings
Office equipment
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
573,165
100,000
748
48,402
722,315
Additions
4,640
4,640
---------
---------
----
-------
---------
At 31 December 2024
577,805
100,000
748
48,402
726,955
---------
---------
----
-------
---------
Depreciation
At 1 January 2024
58,510
20,417
748
30,977
110,652
Charge for the year
14,445
5,000
9,680
29,125
---------
---------
----
-------
---------
At 31 December 2024
72,955
25,417
748
40,657
139,777
---------
---------
----
-------
---------
Carrying amount
At 31 December 2024
504,850
74,583
7,745
587,178
---------
---------
----
-------
---------
At 31 December 2023
514,655
79,583
17,425
611,663
---------
---------
----
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
1,964
657
Other debtors
261
12,397
------
-------
2,225
13,054
------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,635
32,575
Trade creditors
74,625
81,577
Social security and other taxes
25,768
18,007
Other creditors
64,313
99,293
---------
---------
187,341
231,452
---------
---------
The bank loan is secured by a fixed charge and floating charge over the land and property of the company.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
552,881
577,017
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £479,945 (2023: £537,143) in respect of liabilities payable or repayable by installments which fall due for payment after more than five years from the reporting date.
The bank loan is secured by a fixed and floating charge over the land and property of the company.