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IRIS Accounts Production v17.3.1.106 SC542348 Board of Directors 10.8.16 31.8.17 31.8.17 false true false false true false Ordinary A 0.01000 Ordinary B 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5423482016-08-09SC5423482017-08-31SC5423482016-08-102017-08-31SC5423482016-08-09SC542348ns15:Scotland2016-08-102017-08-31SC542348ns14:PoundSterling2016-08-102017-08-31SC542348ns10:Director12016-08-102017-08-31SC542348ns10:PrivateLimitedCompanyLtd2016-08-102017-08-31SC542348ns10:SmallEntities2016-08-102017-08-31SC542348ns10:AuditExemptWithAccountantsReport2016-08-102017-08-31SC542348ns10:SmallCompaniesRegimeForDirectorsReport2016-08-102017-08-31SC542348ns10:SmallCompaniesRegimeForAccounts2016-08-102017-08-31SC542348ns10:FullAccounts2016-08-102017-08-31SC542348ns10:OrdinaryShareClass12016-08-102017-08-31SC542348ns10:OrdinaryShareClass22016-08-102017-08-31SC542348ns10:Director22016-08-102017-08-31SC542348ns10:RegisteredOffice2016-08-102017-08-31SC542348ns5:CurrentFinancialInstruments2017-08-31SC542348ns5:ShareCapital2017-08-31SC542348ns5:RetainedEarningsAccumulatedLosses2017-08-31SC542348ns5:FurnitureFittings2016-08-102017-08-31SC542348ns5:ComputerEquipment2016-08-102017-08-31SC542348ns5:FurnitureFittings2017-08-31SC542348ns5:ComputerEquipment2017-08-31SC542348ns10:OrdinaryShareClass12017-08-31SC542348ns10:OrdinaryShareClass22017-08-31SC542348ns5:RetainedEarningsAccumulatedLosses2016-08-102017-08-31SC542348ns10:Director112016-08-09SC542348ns10:Director112016-08-102017-08-31SC542348ns10:Director112017-08-31SC542348ns10:Director222016-08-09SC542348ns10:Director222016-08-102017-08-31SC542348ns10:Director222017-08-31


REGISTERED NUMBER: SC542348 (Scotland)















Unaudited Financial Statements

for the Period 10 August 2016 to 31 August 2017

for

WEAREHYDROGEN LTD

WEAREHYDROGEN LTD (REGISTERED NUMBER: SC542348)






Contents of the Financial Statements
for the Period 10 August 2016 to 31 August 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

WEAREHYDROGEN LTD

Company Information
for the Period 10 August 2016 to 31 August 2017







DIRECTORS: Mr D S Rae
Mr M Scott





REGISTERED OFFICE: 17 Elmbank Street
Glasgow
G2 4PB





REGISTERED NUMBER: SC542348 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

WEAREHYDROGEN LTD (REGISTERED NUMBER: SC542348)

Balance Sheet
31 August 2017

Notes £    £   
FIXED ASSETS
Tangible assets 4 2,318

CURRENT ASSETS
Debtors 5 39,540
Cash at bank 46,612
86,152
CREDITORS
Amounts falling due within one year 6 68,800
NET CURRENT ASSETS 17,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,670

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings 8 19,570
SHAREHOLDERS' FUNDS 19,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 2 November 2017 and were signed on its behalf by:





Mr M Scott - Director


WEAREHYDROGEN LTD (REGISTERED NUMBER: SC542348)

Notes to the Financial Statements
for the Period 10 August 2016 to 31 August 2017

1. STATUTORY INFORMATION

Wearehydrogen Ltd is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

WEAREHYDROGEN LTD (REGISTERED NUMBER: SC542348)

Notes to the Financial Statements - continued
for the Period 10 August 2016 to 31 August 2017

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 233 3,214 3,447
At 31 August 2017 233 3,214 3,447
DEPRECIATION
Charge for period 58 1,071 1,129
At 31 August 2017 58 1,071 1,129
NET BOOK VALUE
At 31 August 2017 175 2,143 2,318

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 39,540

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 638
Tax 15,501
Social security and other taxes 601
VAT 22,622
Directors' current accounts 27,938
Accrued expenses 1,500
68,800

7. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
70 Ordinary A £0.01 70
30 Ordinary B £0.01 30
100

WEAREHYDROGEN LTD (REGISTERED NUMBER: SC542348)

Notes to the Financial Statements - continued
for the Period 10 August 2016 to 31 August 2017

8. RESERVES
Retained
earnings
£   

Profit for the period 63,070
Dividends (43,500 )
At 31 August 2017 19,570

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 August 2017:

£   
Mr M Scott
Balance outstanding at start of period -
Amounts advanced 38,703
Amounts repaid (66,596 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period (27,893 )

Mr D S Rae
Balance outstanding at start of period -
Amounts advanced 3,530
Amounts repaid (3,575 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period (45 )

10. RELATED PARTY DISCLOSURES

During the period, total dividends of £43,500 were paid to the directors .

Michael Scott is a director and shareholder in the company and is therefore a related party.
At 31 August 2017 the company owed him £27,893. Interest of 3% was charged on any overdrawn balance exceeding
£10,000 and there is no set date for repayment for this loan.

Daniel Rae was appointed director on 01 June 2017 and is a shareholder in the company. He is therefore a related party. At
31 August 2017 the company owed him £45. There is no set date for repayment for this loan.

Directors' remuneration in the year totalled £9,400.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wearehydrogen Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are
not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of Wearehydrogen Ltd for the period ended 31 August 2017 which comprise the Profit and Loss Account, Balance Sheet
and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Wearehydrogen Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wearehydrogen Ltd and state those matters that we have agreed to state to the Board of Directors of Wearehydrogen Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wearehydrogen Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wearehydrogen Ltd. You consider that Wearehydrogen Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Wearehydrogen Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


2 November 2017