Registration number: NI657719

Hare Energy Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

Hare Energy Ltd

(Registration number: NI657719)
Balance Sheet as at 31 March 2025

	Note	2025 £	2023 £
Current assets
Debtors	5	200,457	150,871
Cash at bank and in hand		73,064	11,010
		273,521	161,881
Creditors: Amounts falling due within one year	6	(31,389)	(4,685)
Net assets		242,132	157,196
Capital and reserves
Called up share capital	7	100	100
Retained earnings		242,032	157,096
Shareholders' funds		242,132	157,196

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges her 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 Profit and Loss Account.

Approved and authorised by the director on 17 December 2025
 

......................................... Mrs A E A Gardiner Director

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

1	General information

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

The address of its registered office is:
2 Ashleigh Park
Ballymena
Antrim
BT42 1DR
Northern Ireland

These financial statements were authorised for issue by the director on 17 December 2025.

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 presentational currency of these financial statements is sterling and all amounts have been rounded to the nearest £1.

Disclosure of long or short period

The financial statements cover the 15-month period from 1 January 2024 to 31 March 2025. This extended accounting period has been adopted by the directors’ to align the year-end with business requirements /reporting convenience.

As a result, the figures for this period are not directly comparable with those of prior periods

Going concern

The financial statements have been prepared on a going concern basis. The director has assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The director believes that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business.

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The company assesses at each reporting date whether tangible fixed assets are impaired.

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
Office Equipment	20% SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	1,214	1,214
At 31 March 2025	1,214	1,214
Depreciation
At 1 January 2024	1,214	1,214
At 31 March 2025	1,214	1,214
Carrying amount
At 31 March 2025	-	-

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

5

Debtors

Current	Note	2025 £	2023 £
Amounts owed by related parties	8	200,160	150,000
Other debtors		297	871
		200,457	150,871

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2023 £
Due within one year
Taxation and social security	27,770	-
Accruals and deferred income	1,600	2,297
Other creditors	2,019	2,388
	31,389	4,685

7	Share capital

Allotted, called up and fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary Share Capital of £1 each	100	100	100	100

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

8	Related party transactions

Summary of transactions with other related parties

THIS Partners LLP (OC392293) During the year, the company received a share of profits from THIS Partners LLP (OC392293), of which it is a corporate member (partner). No amounts were payable to the LLP.

The transactions with THIS Partners LLP were conducted under the terms of the LLP agreement.

The company has not made (or received) any other material loans, guarantees or advances to or from THIS Partners LLP during the year, and there are no contingent liabilities between the company and the LLP. The company has operations and taxable income arising in Finland through its participation in a limited partnership. Transactions denominated in Euros have been translated into sterling using the European Central Bank average exchange rate for the year. The company’s share of Finnish profits for the 15-month period to 31 March 2025 amounted to €56,131 (£47,393).

Income and receivables from related parties

2025	Other related parties £
Share of Profits	115,160
Amounts receivable from related party	50,160

2023

Expenditure with and payables to related parties

2025	Key management £
Purchase of goods	349
Amounts payable to related party	2,019

2023	Key management £
Purchase of goods	169
Amounts payable to related party	2,388

Loans to related parties

2025	Entities with joint control or significant influence £	Total £
At start of period	150,000	150,000
At end of period	150,000	150,000

Hare Energy Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

2023	Entities with joint control or significant influence £	Total £
At start of period	150,025	150,025
Repaid	(25)	(25)
At end of period	150,000	150,000

Terms of loans to related parties

Loans owed are denominated in sterling, are interest free and repayable on demand.
 

9	Parent and ultimate parent undertaking

The ultimate controlling party is Anita Gardiner.