Contents of the Financial Statements
for the Period Ended 30 April 2025
Balance sheet
As at
30 April 2025
|
Notes
|
2025
|
|
|
£
|
| Called up share capital not paid: |
|
0
|
| Fixed assets |
| Intangible assets: |
3 |
300,000
|
| Total fixed assets: |
|
300,000
|
| Current assets |
| Cash at bank and in hand: |
|
1,000,000
|
| Total current assets: |
|
1,000,000
|
| Creditors: amounts falling due within one year: |
4 |
(500)
|
| Net current assets (liabilities): |
|
999,500
|
| Total assets less current liabilities: |
|
1,299,500
|
| Total net assets (liabilities): |
|
1,299,500
|
| Capital and reserves |
| Called up share capital: |
|
1,000,000
|
| Share premium account: |
|
300,000
|
| Profit and loss account: |
|
(500)
|
| Shareholders funds: |
|
1,299,500
|
The notes form part of these financial statements
Balance sheet statements
For the year ending 30 April 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on
30 August 2025
and signed on behalf of the board by:
Name:
Mr. Begova Omer Aslan
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 30 April 2025
1. Accounting policies
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102Turnover policy
Turnover represents the amounts derived from the provision of goods and services falling within the company’s ordinary activities, stated at fair value and excluding value added tax. Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, and the amount of revenue can be measured reliably.
In respect of the supply of goods, revenue is recognised when control of the goods has passed to the customer, which is generally at the point of delivery or dispatch. For services, revenue is recognised by reference to the stage of completion of the transaction at the reporting date, provided the outcome of the transaction can be estimated reliably.Tangible fixed assets and depreciation policy
Tangible fixed assets are stated at historical cost less accumulated depreciation and any provision for impairment. Cost includes all costs directly attributable to bringing the asset into working condition for its intended use.
Depreciation is provided to write off the cost of tangible fixed assets, less estimated residual values, on a straight-line basis over their estimated useful lives as follows:
* Motor vehicles: 4 years
* Plant and machinery: 5 years
* Computer equipment: 3 years
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.Intangible fixed assets and amortisation policy
Expenditure on research activities is recognised as an expense in the period in which it is incurred. Development costs are capitalised as an intangible asset when the company can demonstrate:
* The technical feasibility of completing the asset,
* The intention to complete and use or sell the asset,
* The availability of adequate resources to complete the development, and
* The ability to measure reliably the expenditure attributable to the asset.
Capitalised development costs are amortised on a straight-line basis over their estimated useful economic life, which does not exceed 5 years. Where no internally generated intangible asset can be recognised, development expenditure is charged to profit or loss as incurred.Valuation and information policy
The financial statements have been prepared under the historical cost convention, modified where appropriate by the revaluation of certain assets and liabilities at fair value through profit or loss.
Assets and liabilities are initially recognised at their transaction value and subsequently measured at cost, net of depreciation, amortisation or impairment, unless a more relevant measurement basis is required by the applicable accounting standard. The directors consider that the accounting policies adopted are the most appropriate in order to provide a true and fair view.
Notes to the Financial Statements
for the Period Ended 30 April 2025
2. Employees
|
2025 |
| Average number of employees during the period |
1
|
The average number of persons (including directors) employed by the company during the year was 1. This number excludes independent contractors and freelancers engaged overseas, who are not considered employees of the company.
Contracted services:
During the year the company engaged independent contractors and freelancers to provide specialist services in relation to ongoing product and software development projects. These costs have not been included within administrative expenses but have instead been capitalised as part of intangible assets. The related expenditure will be amortised over the useful economic life of the developed assets in future periods.
Notes to the Financial Statements
for the Period Ended 30 April 2025
3. Intangible Assets
|
Total |
| Cost |
£ |
| Additions |
300,000
|
| At 30 April 2025 |
300,000
|
| Amortisation |
|
| Charge for year |
0
|
| At 30 April 2025 |
0
|
| Net book value |
|
| At 30 April 2025 |
300,000
|
Development costs represent expenditure on proprietary software and energy/vehicle technology projects. These costs, amounting to £300,000, have been capitalised in accordance with the company’s accounting policies, as the directors are satisfied that the recognition criteria for intangible assets under FRS 102 Section 18 have been met.
No amortisation has been charged in the current year as the projects were still in development at the balance sheet date. Amortisation will commence in the following financial year once the assets are available for use, on a straight-line basis over their estimated useful economic life not exceeding 5 years.
Notes to the Financial Statements
for the Period Ended 30 April 2025
4. Creditors: amounts falling due within one year note
The balance represents a loan due to a director, which is interest-free, unsecured and repayable on demand.
Notes to the Financial Statements
for the Period Ended 30 April 2025
5. Related party transactions
| Name of the related party: |
|
| Relationship: |
Director
|
| Description of the Transaction: |
The transaction was an interest-free loan advanced by the director to the company, unsecured and repayable on demand.
|
| £ |
| Balance at 30 April 2025 |
|
500
|