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Registration number: 09315799

Lohydrogen Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Lohydrogen Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Lohydrogen Limited

(Registration number: 09315799)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,656

1,343

Tangible assets

5

2,484

2,242

 

4,140

3,585

Current assets

 

Stocks

6

22,884

22,425

Debtors

7

270

242

Cash at bank and in hand

 

192

249

 

23,346

22,916

Creditors: Amounts falling due within one year

8

(56,844)

(53,091)

Net current liabilities

 

(33,498)

(30,175)

Net liabilities

 

(29,358)

(26,590)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(29,458)

(26,690)

Shareholders' deficit

 

(29,358)

(26,590)

For the financial year ending 30 November 2024 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.

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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 10 August 2025 and signed on its behalf by:
 


Michael Stoneman
Director

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
8 St Peter Street
Tiverton
Devon
EX16 6NU

Principal activity

The principal activity of the company is the design and development of various projects.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fittings fixtures and equipment

15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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:

Asset class

Amortisation method and rate

Patents

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 December 2023

2,036

2,036

Additions acquired separately

574

574

At 30 November 2024

2,610

2,610

Amortisation

At 1 December 2023

693

693

Amortisation charge

261

261

At 30 November 2024

954

954

Carrying amount

At 30 November 2024

1,656

1,656

At 30 November 2023

1,343

1,343

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

1,156

4,007

5,163

Additions

367

260

627

At 30 November 2024

1,523

4,267

5,790

Depreciation

At 1 December 2023

600

2,321

2,921

Charge for the year

101

284

385

At 30 November 2024

701

2,605

3,306

Carrying amount

At 30 November 2024

822

1,662

2,484

At 30 November 2023

556

1,686

2,242

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Stocks

2024
£

2023
£

Work in progress

22,884

22,425

7

Debtors

2024
£

2023
£

Other debtors

270

242

270

242

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,332

1,000

Other creditors

55,512

52,091

56,844

53,091

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Lohydrogen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Repayments by director
£

At 30 November 2024
£

Director 1

(52,091)

(3,421)

(55,512)

       
     

 

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Director 1

(48,383)

(3,708)

(52,091)

 

11

Going Concern

The financial statements have been prepared on a 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 from the company's directors.
If the company were unable to continue in operational existence for the foreseeable future adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.
The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.