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REGISTERED NUMBER: 02220082 (England and Wales)










POWERBETTER DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,336,781 929,371

CURRENT ASSETS
Stocks 546,560 635,367
Debtors 5 1,943,981 1,810,772
Cash at bank 433,525 266,786
2,924,066 2,712,925
CREDITORS
Amounts falling due within one year 6 2,064,835 1,986,469
NET CURRENT ASSETS 859,231 726,456
TOTAL ASSETS LESS CURRENT LIABILITIES 2,196,012 1,655,827

CREDITORS
Amounts falling due after more than one year 7 (427,039 ) (442,088 )

PROVISIONS FOR LIABILITIES (334,195 ) -
NET ASSETS 1,434,778 1,213,739

CAPITAL AND RESERVES
Called up share capital 9 73 73
Capital redemption reserve 10 52 52
Retained earnings 10 1,434,653 1,213,614
SHAREHOLDERS' FUNDS 1,434,778 1,213,739

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

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

POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

BALANCE SHEET - continued
31ST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:





C Ferguson - Director


POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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


1. STATUTORY INFORMATION

Powerbetter Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02220082

Registered office: The Nookin
48 Leeds Road
Oulton
Leeds
LS26 8JY

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.

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders and the bank will continue to financially support the company.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When the outcome of a transaction can be estimated reliably, turnover from ground remediation works is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to work done.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings- Over the lease term
Plant and machinery- 25% reducing balance
Motor vehicles- 25% reducing balance
Office equipment- 33% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Leasing and hire purchase commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 30 ) .

POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st April 2022 58,698 1,186,647 -
Additions - 522,989 240
Exchange differences - 9,130 -
At 31st March 2023 58,698 1,718,766 240
DEPRECIATION
At 1st April 2022 45,625 309,200 -
Charge for year 726 121,816 13
Exchange differences - 491 -
At 31st March 2023 46,351 431,507 13
NET BOOK VALUE
At 31st March 2023 12,347 1,287,259 227
At 31st March 2022 13,073 877,447 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 26,493 59,023 1,330,861
Additions - 10,563 533,792
Exchange differences 400 - 9,530
At 31st March 2023 26,893 69,586 1,874,183
DEPRECIATION
At 1st April 2022 8,015 38,650 401,490
Charge for year 4,666 8,046 135,267
Exchange differences 154 - 645
At 31st March 2023 12,835 46,696 537,402
NET BOOK VALUE
At 31st March 2023 14,058 22,890 1,336,781
At 31st March 2022 18,478 20,373 929,371


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 304,344 429,234
Other debtors 1,639,637 1,381,538
1,943,981 1,810,772

POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 156,902 119,901
Trade creditors 1,636,524 1,567,913
Amounts owed to related parties 147,383 148,443
Taxation and social security 40,309 58,890
Other creditors 73,717 81,322
2,064,835 1,986,469

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 21,667 31,667
Hire purchase contracts (see note 8) 405,372 410,421
427,039 442,088

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 156,902 119,901
Between one and five years 405,372 410,421
562,274 530,322

Non-cancellable operating leases
2023 2022
£    £   
Within one year 131,372 214,592
Between one and five years 82,145 224,142
213,517 438,734

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
105 Ordinary £1 53 53
10 A Ordinary £1 10 10
10 B Ordinary £1 10 10
73 73

POWERBETTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02220082)

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


10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st April 2022 1,213,614 52 1,213,666
Profit for the year 419,739 419,739
Dividends (198,700 ) (198,700 )
At 31st March 2023 1,434,653 52 1,434,705