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REGISTERED NUMBER: 04266073 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

POTENTIAL PLUS LIMITED

POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance sheet 1

Notes to the financial statements 3


POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 902 1,269

Current assets
Stocks 7,200 5,000
Debtors 5 27,476 14,994
Cash at bank 112,941 76,848
147,617 96,842
Creditors
Amounts falling due within one year 6 66,548 57,001
Net current assets 81,069 39,841
Total assets less current liabilities 81,971 41,110

Creditors
Amounts falling due after more than one year 7 (20,250 ) (29,427 )

Provisions for liabilities 8 (226 ) (241 )
Net assets 61,495 11,442

Capital and reserves
Called up share capital 9 100 100
Retained earnings 61,395 11,342
Shareholders' funds 61,495 11,442

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 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.

POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

BALANCE SHEET - continued
31 MARCH 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





Mr D Broad - Director


POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. Statutory information

Potential Plus Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04266073. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 49 Harewood Gardens, Bournemouth, Dorset, BH7 7RH.

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.

Turnover
Turnover represents income receivable from management consultancy, excluding value added tax and trade discounts.

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 reducing balance
Computer equipment - 25% on reducing balance

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Government grants
Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

3. Employees and directors

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

POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 April 2022 499 2,901 3,400
Disposals (499 ) - (499 )
At 31 March 2023 - 2,901 2,901
Depreciation
At 1 April 2022 433 1,698 2,131
Charge for year - 301 301
Eliminated on disposal (433 ) - (433 )
At 31 March 2023 - 1,999 1,999
Net book value
At 31 March 2023 - 902 902
At 31 March 2022 66 1,203 1,269

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 27,476 14,994

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 9,000 8,823
Trade creditors 4,129 9,609
Tax 28,243 17,596
VAT 15,555 8,176
Directors' current accounts 7,841 11,225
Accruals and deferred income 1,780 1,572
66,548 57,001

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 9,000 9,049
Bank loans - 2-5 years 11,250 20,378
20,250 29,427

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 226 241

POTENTIAL PLUS LIMITED (REGISTERED NUMBER: 04266073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 April 2022 241
Provided during year (15 )
Balance at 31 March 2023 226

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

10. Ultimate controlling party

The company is controlled by Mr and Mrs D Broad and Mr M Simpson, who between them own 100% of the issued share capital.