The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Anacapa Wavepower Ltd (formerly Centipod Ltd) is a private company limited by shares incorporated in Scotland. The registered office is c/o AAB Business & Tax Advisory LLP, 133 Finnieston Street, Glasgow, G3 8HB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Although the company has net current liabilities and negative shareholder funds at the year end the directors continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements. The company has cash resources and the main creditor is an inter group loan which will not require repayment until the company has appropriate funds and therefore having considered the company's working capital requirements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover is measured at the fair value of the consideration received or receivable.

Sales turnover is recognised when consultancy services are rendered to the customer.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

The average monthly number of persons (including directors) employed by the company during the year was:

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Anacapa Wavepower LLC owns the share capital of Anacapa Wavepower Ltd. The company is controlled by the directors JGP Dehlsen and JB Dehlsen. Anacapa Wavepower LLC's principal place of business is 101 E. Victoria Street, Suite F, Santa Barbara, CA 93101, USA.

In the year to 31 December 2024 the balance due by the company to Ecomerit Technologies LLC, a company owned by the directors, was £9,075 (2023: £9,075).

In the year to 31 December 2024 the company received and paid money to Dehlsen Associates LLC, a company owned by the directors, resulting in a net movement of £13,054. At the year end the balance due by the company to Dehlsen Associates LLC was £18,636 (2023: £5,582 due by the company).

There are no set repayment terms, nor is interest charged on the outstanding balances due.