Company Registration No. 13756478 (England and Wales)
HYDROGEN AFLOAT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
Vivian House
Newham Road
Truro
Cornwall
United Kingdom
TR1 2DP
HYDROGEN AFLOAT LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HYDROGEN AFLOAT LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
30,702
32,891
Tangible assets
5
4,917
5,667
35,619
38,558
Current assets
Stocks
1,069
-
Debtors
6
523
142
Cash at bank and in hand
3,738
441
5,330
583
Creditors: amounts falling due within one year
7
(80,442)
(65,241)
Net current liabilities
(75,112)
(64,658)
Net liabilities
(39,493)
(26,100)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(39,593)
(26,200)
Total equity
(39,493)
(26,100)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HYDROGEN AFLOAT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2025
30 November 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 June 2026
Mr N D Swift
Director
Company registration number 13756478 (England and Wales)
HYDROGEN AFLOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Hydrogen Afloat Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mortimer House, 49 Church Street, Theale, Reading, England, RG7 5BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company's ability to continue trading is dependent upon the continued support of its creditors and an improvement in the company's trading results. On the assumption that the support is ongoing the director considers that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result if the bank was to withdraw its support or if trading results do not improve.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

HYDROGEN AFLOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
Straight line over 4 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
Straight line over 5 years
Computers
Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HYDROGEN AFLOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Intangible fixed assets
Other
£
Cost
At 1 December 2024
33,552
Additions
8,265
At 30 November 2025
41,817
Amortisation and impairment
At 1 December 2024
661
Amortisation charged for the year
10,454
At 30 November 2025
11,115
Carrying amount
At 30 November 2025
30,702
At 30 November 2024
32,891
HYDROGEN AFLOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2024
6,552
Additions
450
At 30 November 2025
7,002
Depreciation and impairment
At 1 December 2024
885
Depreciation charged in the year
1,200
At 30 November 2025
2,085
Carrying amount
At 30 November 2025
4,917
At 30 November 2024
5,667
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
523
142
7
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
80,442
65,241
8
Related party transactions

As at 30 November 2025 the director was owed £79,400 (2024: £64,388) The loan is interest free and repayable on demand.

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