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REGISTERED NUMBER: 07709997 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Mr M Power Ltd

Mr M Power Ltd (Registered number: 07709997)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mr M Power Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M Marinelli





SECRETARY:





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 07709997 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Mr M Power Ltd (Registered number: 07709997)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,352 12,137

CURRENT ASSETS
Debtors 5 13,799 14,484
Cash at bank 68,072 75,316
81,871 89,800
CREDITORS
Amounts falling due within one year 6 26,378 35,041
NET CURRENT ASSETS 55,493 54,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,845

66,896

PROVISIONS FOR LIABILITIES 7 2,300 2,300
NET ASSETS 62,545 64,596

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 62,445 64,496
SHAREHOLDERS' FUNDS 62,545 64,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Mr M Power Ltd (Registered number: 07709997)

Balance Sheet - continued
30 June 2023


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 director and authorised for issue on 26 September 2023 and were signed by:





M Marinelli - Director


Mr M Power Ltd (Registered number: 07709997)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Mr M Power Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is Rivermill House, 6 High Street, Wheathampstead, Herts, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Revenue recognition
Revenue represents fair value of consideration receivable for goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor Vehicles - 25% reducing balance
Office Equipment - 33% on cost.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Mr M Power Ltd (Registered number: 07709997)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the leases term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 19,299 8,917 28,216
Additions - 1,519 1,519
At 30 June 2023 19,299 10,436 29,735
DEPRECIATION
At 1 July 2022 8,443 7,636 16,079
Charge for year 2,714 1,590 4,304
At 30 June 2023 11,157 9,226 20,383
NET BOOK VALUE
At 30 June 2023 8,142 1,210 9,352
At 30 June 2022 10,856 1,281 12,137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 13,511 13,896
Prepayments 288 588
13,799 14,484

Mr M Power Ltd (Registered number: 07709997)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Tax 14,947 16,498
Social security and other taxes 7,047 8,585
Other creditors 4,384 9,958
26,378 35,041

7. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 2,300 2,300

Deferred
tax
£   
Balance at 1 July 2022 2,300
Balance at 30 June 2023 2,300

Deferred tax is incurred when capital allowances exceed depreciation. Deferred tax is charged at the marginal rate of taxation - 26.5% (2022 - 19%).

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary Shares £1 100 100