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REGISTERED NUMBER: 03934964 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Powersave Direct Ltd

Powersave Direct Ltd (Registered number: 03934964)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Powersave Direct Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs A S Brown





SECRETARY: Mrs A S Brown





REGISTERED OFFICE: Cabrhilla House
87-89 Reddal Hill Road
Cradley Heath
West Midlands
B64 5JT





REGISTERED NUMBER: 03934964 (England and Wales)

Powersave Direct Ltd (Registered number: 03934964)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,604 8,564

CURRENT ASSETS
Debtors 468,132 379,716
Cash at bank 806,847 943,079
1,274,979 1,322,795
CREDITORS
Amounts falling due within one year 1,083,257 1,123,950
NET CURRENT ASSETS 191,722 198,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,326

207,409

CREDITORS
Amounts falling due after more than one year (31,587 ) (41,311 )

PROVISIONS FOR LIABILITIES (699 ) (1,484 )
NET ASSETS 165,040 164,614

CAPITAL AND RESERVES
Called up share capital 6 10 10
Retained earnings 165,030 164,604
SHAREHOLDERS' FUNDS 165,040 164,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Powersave Direct Ltd (Registered number: 03934964)

Abridged Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 September 2023 and were signed by:





Mrs A S Brown - Director


Powersave Direct Ltd (Registered number: 03934964)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Powersave Direct Ltd 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.

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 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - At varying rates

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.

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 year was 4 (2022 - 4 ) .

Powersave Direct Ltd (Registered number: 03934964)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 37,684
Disposals (18,947 )
At 28 February 2023 18,737
DEPRECIATION
At 1 March 2022 29,120
Charge for year 2,960
Eliminated on disposal (18,947 )
At 28 February 2023 13,133
NET BOOK VALUE
At 28 February 2023 5,604
At 28 February 2022 8,564

5. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,724 8,689

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,979 9,724

Amounts falling due between two and five years:
Bank loans - 2-5 years 21,608 31,587

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary shares 10p 10 10

7. RELATED PARTY DISCLOSURES

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.

Powersave Direct Ltd (Registered number: 03934964)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is Siteworks 2000 Limited.

The ultimate controlling party is Mrs A S Brown.