Year Ended
Registration number:
Hydro-Gen Limited
Balance Sheet
31 May 2021
Note |
2021 |
2020 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Hydro-Gen Limited
Balance Sheet
31 May 2021
For the financial year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Company Registration Number: 02584011
Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Going concern
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Director's Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the Company should be able to operate within the level of its current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for services rendered in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
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.
Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
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 corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 |
Land and buildings |
10% on reducing balance |
Fixtures, fittings and equipment |
15% on reducing balance |
Motor vehicles |
25% on reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10% straight line |
Investments
Investments in equity shares held in associates which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Stocks
The cost of work in progress 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.
Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 June 2020 |
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Additions acquired separately |
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At 31 May 2021 |
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Amortisation |
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At 1 June 2020 |
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Amortisation charge |
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At 31 May 2021 |
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Carrying amount |
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At 31 May 2021 |
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Tangible assets |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 June 2020 |
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Additions |
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Disposals |
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( |
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At 31 May 2021 |
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Depreciation |
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At 1 June 2020 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
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At 31 May 2021 |
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Carrying amount |
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At 31 May 2021 |
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At 31 May 2020 |
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Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Investments |
2021 |
2020 |
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Investment in associates |
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Associates |
£ |
Cost |
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At 1 June 2020 |
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Provision |
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Carrying amount |
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At 31 May 2021 |
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At 31 May 2020 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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Nepal |
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Subsidiary undertakings |
Samina Hydro and Engineering Pvt. Ltd The principal activity of Samina Hydro and Engineering Pvt. Ltd is |
Stocks |
2021 |
2020 |
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Work in progress |
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Hydro-Gen Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Amounts due from related entities |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2021 |
2020 |
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Loans and borrowings due after one year |
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Bank borrowings |
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- |
2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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- |