REGISTERED NUMBER: 04858593 (England and Wales)

Prism Power Ltd

Unaudited Financial Statements for the Year Ended 30 June 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A C Wolde-Lule

Mrs R K Phagura

M Green

REGISTERED OFFICE:

Caxton Court Caxton Way

Watford Business Park

Watford

Hertfordshire

WD18 8RH

REGISTERED NUMBER:

04858593 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

5,564

Tangible assets

5

32,798

31,003

32,798

36,567

CURRENT ASSETS

Inventories

207,821

287,813

Debtors

6

4,980,118

4,134,057

Cash at bank and in hand

365,234

3,906

5,553,173

4,425,776

CREDITORS

Amounts falling due within one year

7

4,535,597

5,839,356

NET CURRENT ASSETS/(LIABILITIES)

1,017,576

(1,413,580

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,050,374

(1,377,013

)

CREDITORS

Amounts falling due after more than one year

8

45,033

60,473

NET ASSETS/(LIABILITIES)

1,005,341

(1,437,486

)

CAPITAL AND RESERVES

Called up share capital

103

103

Share premium

199,997

199,997

Retained earnings

805,241

(1,637,586

)

1,005,341

(1,437,486

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

A C Wolde-Lule - Director

1.	STATUTORY INFORMATION

Prism Power Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Income recognition

Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Profit on long term contracts is recognised as the work is carried out, if the final outcome can be

assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the

proportion of the work carried out at the year end, by recording turnover and related costs as contract

activity progresses. Turnover is calculated as a percentage of the total contract value by considering

the actual costs incurred compared to total expected costs. Turnover derived from variations on

contracts is recognised only when they have been accepted by the customer. Full provision is made

for losses on all contracts in the period in which they are first foreseen.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Inventories

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.

In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

The Company's functional and presentational currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign

currencies are recognised in profit or loss except when deferred in other comprehensive income as

qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are

presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All

other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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

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.

Discounted trade debtors

The Company has entered into an invoice discounting arrangement with a finance company. In accordance with Financial Reporting Standard 102 1A this is in the nature of a secured loan and accordingly the debtors are recorded as current assets and the advances against debtors are shown within creditors due within one year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2024 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2024

and 30 June 2025

231,942

AMORTISATION

At 1 July 2024

226,378

Charge for year

5,564

At 30 June 2025

231,942

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

5,564

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2024

140,183

334,100

474,283

Additions

2,439

19,775

22,214

At 30 June 2025

142,622

353,875

496,497

DEPRECIATION

At 1 July 2024

137,484

305,796

443,280

Charge for year

2,430

17,989

20,419

At 30 June 2025

139,914

323,785

463,699

NET BOOK VALUE

At 30 June 2025

2,708

30,090

32,798

At 30 June 2024

2,699

28,304

31,003

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,043,910

3,902,739

Other debtors

3,936,208

231,318

4,980,118

4,134,057

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

247,508

Trade creditors

1,836,869

2,569,438

Taxation and social security

268,798

247,699

Other creditors

2,429,930

2,774,711

4,535,597

5,839,356

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

45,033

60,473

9.	SECURED DEBTS

Bank overdrafts are secured by a fixed and floating charge over all property or undertakings of the Company.

During the year ended 31 December 2022, the Company entered into a general pledge agreement in favour of HSBC UK Bank plc. as security over the bank overdraft.

10.	CONTINGENT LIABILITIES

The Company is party to a Composite Company Unlimited Multilateral Guarantee dated 17 December 2014 in respect of all borrowing of the group (comprising of Prism Power Ltd, InTouch IS Limited and SPKGAS Limited) advanced by HSBC bank.