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REGISTERED NUMBER: NI047669 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ORGANIC POWER IRELAND LIMITED

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ORGANIC POWER IRELAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: R C Brennan





REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG





REGISTERED NUMBER: NI047669 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Belfast
BT1 3BG

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 44 55
44 55

CURRENT ASSETS
Debtors 6 25,825 25,000
Cash at bank 2,420 11,783
28,245 36,783
CREDITORS
Amounts falling due within one year 7 136,545 205,921
NET CURRENT LIABILITIES (108,300 ) (169,138 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(108,256

)

(169,083

)

CREDITORS
Amounts falling due after more than one
year

8

15,468

18,790
NET LIABILITIES (123,724 ) (187,873 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (123,726 ) (187,875 )
SHAREHOLDERS' FUNDS (123,724 ) (187,873 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

BALANCE SHEET - continued
31 AUGUST 2024



The financial statements were approved by the director and authorised for issue on 9 July 2025 and were signed by:





R C Brennan - Director


ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Organic Power Ireland Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The business address of the company is 4 Croft Park, Ballygally, Larne, BT40 2QR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company made a profit for the year of £64,149 (2023: £436). However, it has net liabilities of £123,724 (2023: £187,873). The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the director. The financial statements do not include any adjustments that would result if he withdrew his support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill relates to the amount paid in connection with the acquisition of a business in 2004.

In FY2016, the amortisation policy was revised, with the remaining goodwill balance at that date amortised evenly over its revised estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 20% on reducing balance

Assets which are constructed by the company are not depreciated until the asset is completed.

Government grants
Grants towards revenue expenditure are credited to the income and expenditure account in the period to which they relate. Grants on capital expenditure are credited to a deferred income account and are released to revenue over the expected useful lives of the relevant assets.

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 50,000
AMORTISATION
At 1 September 2023
and 31 August 2024 50,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 September 2023
and 31 August 2024 800
DEPRECIATION
At 1 September 2023 745
Charge for year 11
At 31 August 2024 756
NET BOOK VALUE
At 31 August 2024 44
At 31 August 2023 55

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 25,825 25,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
VAT - 2,000
Other creditors 19,236 21,697
Directors' current accounts 115,404 132,729
Accruals and deferred income 1,905 49,495
136,545 205,921

ORGANIC POWER IRELAND LIMITED (REGISTERED NUMBER: NI047669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other creditors is an amount of £15,000 (2023: £15,000) in relation to a related party creditor.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 2,892 2,892
Bank loans - 2-5 years 11,568 11,568
Bank loans more 5 yr by instal 1,008 4,330
15,468 18,790

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,008 4,330