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REGISTERED NUMBER: 04396165 (England and Wales)















POWERFLEX BATTERIES LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






POWERFLEX BATTERIES LIMITED (REGISTERED NUMBER: 04396165)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POWERFLEX BATTERIES LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J A Lowndes





REGISTERED OFFICE: Unit 19
Rumer Hill Business Estate
Rumer Hill Road
Cannock
Staffordshire
WS11 0ET





REGISTERED NUMBER: 04396165 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

POWERFLEX BATTERIES LIMITED (REGISTERED NUMBER: 04396165)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 476,056 468,927

CURRENT ASSETS
Stocks 790,512 306,304
Debtors 5 655,794 631,467
Cash at bank and in hand 121,861 98,312
1,568,167 1,036,083
CREDITORS
Amounts falling due within one year 6 1,316,757 860,895
NET CURRENT ASSETS 251,410 175,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,466

644,115

PROVISIONS FOR LIABILITIES 106,887 78,746
NET ASSETS 620,579 565,369

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 620,478 565,268
SHAREHOLDERS' FUNDS 620,579 565,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 13 October 2023 and were signed by:



J A Lowndes - Director


POWERFLEX BATTERIES LIMITED (REGISTERED NUMBER: 04396165)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Powerflex Batteries Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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.

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.

POWERFLEX BATTERIES LIMITED (REGISTERED NUMBER: 04396165)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Hire to Plant and
Equipment property machinery
£    £    £   
COST
At 1 April 2022 684,609 9,627 108,865
Additions 158,047 - 955
Disposals (75,721 ) - -
At 31 March 2023 766,935 9,627 109,820
DEPRECIATION
At 1 April 2022 282,521 6,613 81,582
Charge for year 57,579 733 7,185
Eliminated on disposal - - -
At 31 March 2023 340,100 7,346 88,767
NET BOOK VALUE
At 31 March 2023 426,835 2,281 21,053
At 31 March 2022 402,088 3,014 27,283

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 56,651 82,397 69,277 1,011,426
Additions - - 2,978 161,980
Disposals - (10,200 ) - (85,921 )
At 31 March 2023 56,651 72,197 72,255 1,087,485
DEPRECIATION
At 1 April 2022 50,942 69,211 51,630 542,499
Charge for year 2,836 5,310 5,176 78,819
Eliminated on disposal - (9,889 ) - (9,889 )
At 31 March 2023 53,778 64,632 56,806 611,429
NET BOOK VALUE
At 31 March 2023 2,873 7,565 15,449 476,056
At 31 March 2022 5,709 13,186 17,647 468,927

POWERFLEX BATTERIES LIMITED (REGISTERED NUMBER: 04396165)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 604,084 402,499
Other debtors 51,710 228,968
655,794 631,467

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 355,938 227,162
Social security and other taxes 304,768 308,729
Other creditors 530,254 222,607
Directors' current accounts 11,150 292
Accrued expenses 114,647 102,105
1,316,757 860,895

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 49,900 42,900

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J A Lowndes
Balance outstanding at start of year (292 ) 47,897
Amounts advanced 44,989 24,483
Amounts repaid (55,847 ) (72,672 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,150 ) (292 )

9. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr J Lowndes by virtue of his majority shareholding.