Water Powered Technologies Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07450495 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Water Powered Technologies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Selwyn

SECRETARY:

E Hockin

REGISTERED OFFICE:

13b Main C

Kings Hill Industrial Estate

Bude

Cornwall

EX23 8QN

REGISTERED NUMBER:

07450495 (England and Wales)

FIXED ASSETS

Intangible assets

4

1,412

6,843

Investments

5

225,000

226,412

231,843

CURRENT ASSETS

Debtors

6

148,613

164,279

Cash at bank

21,373

60

169,986

164,339

CREDITORS

Amounts falling due within one year

7

175,118

123,528

NET CURRENT (LIABILITIES)/ASSETS

(5,132

)

40,811

TOTAL ASSETS LESS CURRENT
LIABILITIES

221,280

272,654

CAPITAL AND RESERVES

Called up share capital

8

2,898

Share premium

2,055,844

Retained earnings

(1,837,462

)

(1,786,088

)

SHAREHOLDERS' FUNDS

221,280

272,654

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

P Selwyn - Director

1.	STATUTORY INFORMATION

Water Powered Technologies Limited is a private company, limited by shares , registered in England and Wales. 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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Preparation of consolidated financial statements

The financial statements contain information about Water Powered Technologies Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

IP recharges:

IP recharges are recognised based on the product sales of the company's subsidiary, where the product incorporates the company's IP. These are reviewed and calculated annually by management.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated depreciation and any accumulated impairment losses.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Patents - 4 years

Investments in subsidiaries

Investments are recognised initially at cost including expenditure directly attributable to the transaction. Subsequently they are held at cost less accumulated impairment.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Provision is made for any impairment. Group recharge costs relating to R & D projects are recognised in administrative expenses once the cost of the good or service has been consumed.

Financial instruments

Financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include fixed asset investments, cash at bank, trade and other debtors, trade and other creditors.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Intercompany loans

Intercompany loans are repayable on demand. No interest is charged on amounts outstanding.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Finance costs

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the same period as the related expenditure and included within other income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2023

and 31 March 2024

104,550

AMORTISATION

At 1 April 2023

97,707

Charge for year

5,431

At 31 March 2024

103,138

NET BOOK VALUE

At 31 March 2024

1,412

At 31 March 2023

6,843

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2023

and 31 March 2024

225,000

NET BOOK VALUE

At 31 March 2024

225,000

At 31 March 2023

225,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

148,613

164,279

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed to group undertakings

130,073

90,155

Taxation and social security

33,976

27,702

Other creditors

11,069

5,671

175,118

123,528

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2,013

Ordinary

£1

2,013

885

Ordinary A

£1

885

2,898

9.	RELATED PARTY DISCLOSURES

Included within other creditors is a balance of £nil (2023: £100) owed to the company's director. No interest was charged on the loan.