Harmony Hb Limited

The company's principal activity is the development and operation of battery energy storage systems. Going concern The company is now fully operational and generating consistent monthly revenues in line with expectations. The directors have prepared cash flow forecasts for a period through to July 2024 taking in to account the expected revenue and costs from operating the battery storage assets. In addition the directors have considered the repayment profiles and requirement of financing facilities held at the date of signing. These include amounts due to in respect of the shareholder loan and an external bank loan which was secured on 14 September 2021 (see note to the financial statements for further details). The repayment of the shareholder loan is predicated on the cash generation of the company and as such if the company does not generate the cash expected then there will be an equal effect in terms of cash outflow in respect of this facility. The external bank loan commenced capital repayments on 30 September 2021. These cash flows have been factored in to the forecasts and does not represent a significant judgement in respect of the going concern assumption. Taking the above matters in to account the directors are satisfied that there is sufficient cash headroom in the business over the period under review such that there are no material uncertainties arising in respect of going concern and that it is appropriate to prepare the accounts on a going concern basis.