ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 08163038

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 SEPTEMBER 2025

	ENEGEN POWER SYSTEMS LIMITED


ENEGEN POWER SYSTEMS LIMITED

COMPANY INFORMATION

Directors	D H Calmonson
	A Chaplin
	S Hendry
	D A Holt
	C D B Read


Registered number	08163038


Registered office	Suite 2
	Pure Offices Port Way
	Port Solent
	Portsmouth
	Hampshire
	PO6 4TY


Accountants	Menzies LLP
	Chartered Accountants
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


ENEGEN POWER SYSTEMS LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 9


ENEGEN POWER SYSTEMS LIMITED REGISTERED NUMBER:08163038

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		2,278,693		1,883,838
Tangible assets	5		460		-
			2,279,153		1,883,838
Current assets
Debtors: amounts falling due within one year	6	255,500		326,510
Cash at bank and in hand		105,172		130,721
		360,672		457,231
Creditors: amounts falling due within one year	7	(626,942)		(553,134)
Net current liabilities			(266,270)		(95,903)
Total assets less current liabilities			2,012,883		1,787,935
Creditors: amounts falling due after more than one year	8		(122,582)		(181,458)
Provisions for liabilities
Deferred tax		(373,568)		(373,568)
			(373,568)		(373,568)
Net assets			1,516,733		1,232,909

Page 1


ENEGEN POWER SYSTEMS LIMITED REGISTERED NUMBER:08163038

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2025

		2025		2024
		£		£

Capital and reserves
Called up share capital	18,100	18,100
Share premium account	443,970	443,970
Profit and loss account	1,054,663	770,839
	1,516,733	1,232,909

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 year 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 income and retained earnings 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:

................................................

D A Holt

Director

Date: 18 December 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

Enegen Power Systems Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

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

Going concern

At the period end date, the company had net current liabilities of £266,270 (2024 - £95,903). Included in other creditors are loans due to shareholders totalling £250,000, and accrued unpaid interest of £59,046 (2024 - £27,858).
These individuals have confirmed that they will not withdraw the support until the company has sufficient means to repay them. The directors consider that the company is able to meet its obligations as they fall due for the foreseeable future. As a result the accounts have been prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

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 is expected to be 5 years. Amortisation will commence when the underlying asset is in commercial use.
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.

Page 3


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.5

Interest income

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

2.6

Finance costs

Finance costs are charged to profit or loss 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.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

				Development expenditure	-	5	years
				Intellectual Property	-	5	years

2.11

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:

Office 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.

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 11 (2024 - 12).

Page 5


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4.	Intangible assets

	Intellectual property	Development expenditure	Total
	£	£	£
Cost
At 1 October 2024	119,494	1,883,838	2,003,332
Additions - internal	-	394,855	394,855
At 30 September 2025	119,494	2,278,693	2,398,187
Amortisation
At 1 October 2024	119,494	-	119,494
At 30 September 2025	119,494	-	119,494
Net book value
At 30 September 2025	-	2,278,693	2,278,693
At 30 September 2024	-	1,883,838	1,883,838

Page 6


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 October 2024	14,454
	Additions	686
	At 30 September 2025	15,140
	Depreciation
	At 1 October 2024	14,454
	Charge for the year on owned assets	226
	At 30 September 2025	14,680
	Net book value
	At 30 September 2025	460
	At 30 September 2024	-

Debtors

					2025	2024
					£	£


Trade debtors	97,101	134,443
Other debtors	81,401	97,370
Prepayments and accrued income	76,998	94,697
	255,500	326,510

Page 7


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	46,294	42,328
Trade creditors	102,670	125,934
Corporation tax	-	7,961
Other taxation and social security	57,888	44,125
Other creditors	250,000	254,107
Accruals and deferred income	170,090	78,679
	626,942	553,134

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	122,582	181,458
	122,582	181,458

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company. Contributions totalling £Nil (2024 - £4,107) were payable to the fund at the reporting date and are included in creditors.

	Not later than 1 year	1,950	1,950
		1,950	1,950

11.	Related party transactions
	At the year end there were loans to Directors of £150,000 and accrued unpaid interest of £38,255 (2024 - £33,521).

Page 8


ENEGEN POWER SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

12.	Controlling party

In the opinion of the Directors there is no single ultimate controlling party.

Page 9