ACCOUNTS - Final Accounts preparation

Registered number: 15894558

PORPOISE POWER LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2025

PORPOISE POWER LIMITED

REGISTERED NUMBER: 15894558

BALANCE SHEET

AS AT 30 JUNE 2025

		2025
Note		£

Fixed assets
Tangible assets	4		9,697
			9,697
Current assets
Debtors: amounts falling due within one year	5	12,088
Cash at bank and in hand	6	721,133
		733,221
Current liabilities
Creditors: amounts falling due within one year	7	(72,808)
Total assets less current liabilities			670,110

Net assets			670,110

Capital and reserves
Called up share capital	8	14
Share premium account		1,199,992
Profit and loss account		(529,896)
		670,110

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PORPOISE POWER LIMITED

REGISTERED NUMBER: 15894558

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J P Kennedy

Director

Date: 15 October 2025

The notes on pages 3 to 6 form part of these financial statements.

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PORPOISE POWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2025

1.	General information

Porpoise Power Limited is a private company limited by share capital and incorporated in England and Wales.
The Company's registered office and principal place of business is Grassroots Workspace, 46 Woodstock Road, Oxford, England, OX2 6HT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its 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 profit or loss 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.

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PORPOISE POWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	33%
Motor vehicles	-	33%
Computer equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 3.

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PORPOISE POWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2025

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost or valuation
Additions	10,030	1,250	970	12,250
At 30 June 2025	10,030	1,250	970	12,250
Depreciation
Charge for the period on owned assets	2,229	243	81	2,553
At 30 June 2025	2,229	243	81	2,553
Net book value
At 30 June 2025	7,801	1,007	889	9,697

Debtors

					2025
					£


	Other debtors	9,288
	Prepayments and accrued income	2,800
		12,088

6.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	721,133
		721,133

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PORPOISE POWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2025

7.	Creditors: Amounts falling due within one year
		2025
		£

	Trade creditors	38,714
	Other taxation and social security	10,917
	Other creditors	1,297
	Accruals and deferred income	21,880
		72,808

8.	Share capital
		2025
		£

		Allotted, called up and fully paid

		1,444,443 Ordinary shares of £0.00001 each	14

During the period, 1,444,443 Ordinary shares of £0.00001 each, were issued for a total consideration of £1,200,006.

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