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# POLAR HYDRO LTD

## Company Registration Number:
11944060 (England and Wales)

## Unaudited abridged accounts for the year ended 30 April 2025

## Period of accounts

## Start date: 01 May 2024

## End date: 30 April 2025

# POLAR HYDRO LTD

## Contents of the Financial Statements

for the Period Ended 30 April 2025

Balance sheet |
Notes |

# POLAR HYDRO LTD

## Balance sheet

As at 30 April 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 45,153,986 | 36,814,555
Total fixed assets: |  | 45,153,986 | 36,814,555
Current assets
Total assets less current liabilities: |  | 45,153,986 | 36,814,555
Creditors: amounts falling due after more than one year: | 4 | (29,256,238) | (20,910,287)
Total net assets (liabilities): |  | 15,897,748 | 15,904,268
Capital and reserves
Called up share capital: |  | 16,016,808 | 16,016,808
Profit and loss account: |  | (119,060) | (112,540)
Shareholders funds: |  | 15,897,748 | 15,904,268

The notes form part of these financial statements

# POLAR HYDRO LTD

## Balance sheet statements

For the year ending 30 April 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 January 2026
and signed on behalf of the board by:

Name: Dr Alexander Shadrin
Status: Director

The notes form part of these financial statements

# POLAR HYDRO LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

## Other accounting policies

Development costs are capitalised as an intangible asset if all of the following criteria are met: a) the technical feasibility of completing the asset so that it will be available for use or sale; b) the intention to complete the asset and use or sell it; c) the ability to use or sell the asset; d) the asset will generate probable future economic benefits and demonstrate the existence of a market or the usefulness of the asset if it is to be used internally; e) the availability of adequate technical, financial and other resources to complete the development and to use or sell it; f) the ability to measure reliably the expenditure attributable to the intangible asset.

# POLAR HYDRO LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 12 | 8

# POLAR HYDRO LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 3. Intangible Assets

| Total
--- | ---
Cost | £
At 01 May 2024 | 36,814,555
Additions | 8,339,431
At 30 April 2025 | 45,153,986
Net book value |
At 30 April 2025 | 45,153,986
At 30 April 2024 | 36,814,555

# POLAR HYDRO LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 4. Creditors: amounts falling due after more than one year note

Innogeo Ltd provides R&D and engineering design works in credit, the balance is GBP 29,137,178. Other creditors are related parties providing credit to cover administrative expenses, the balance is GBP 119,060.

# POLAR HYDRO LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 5. Related party transactions

Name of the related party: | Innogeo Ltd
Relationship: | Contractor
Description of the Transaction: | Innogeo provides R&D and engineering design works in credit.
£
Balance at 01 May 2024 |  | 20,797,747
Balance at 30 April 2025 |  | 29,137,178

Name of the related party: | Innogeo Ltd
Relationship: | Contractor
Description of the Transaction: | Covers various administrative expenses.
£
Balance at 01 May 2024 |  | 79,762
Balance at 30 April 2025 |  | 86,282

Name of the related party: | Daniel Shadrin
Relationship: | Intern Engineer
Description of the Transaction: | Covered administrative expenses of the Company.
£
Balance at 01 May 2024 |  | 32,778
Balance at 30 April 2025 |  | 32,778