Company Registration No. 04072414 (England and Wales)
Power Accountax Limited
Unaudited accounts
for the year ended 31 March 2023
Power Accountax Limited
Unaudited accounts
Contents
Power Accountax Limited
Company Information
for the year ended 31 March 2023
Company Number
04072414 (England and Wales)
Registered Office
Mailbox 3, Solent Business Centre
343 Millbrook Road West, Southampton
Southampton
SO15 0HW
United Kingdom
Accountants
Power Account Limited
C/O Power Accountax Limited, Mailbox 3,
Solent Business Centre,
343 Millbrook Road West,
Southampton
SO15 0HW
Power Accountax Limited
Statement of financial position
as at 31 March 2023
Tangible assets
7,062
9,416
Investments
280,687
280,687
Cash at bank and in hand
20,479
88,088
Creditors: amounts falling due within one year
(428)
(31,352)
Net current assets
132,234
140,562
Total assets less current liabilities
419,983
430,665
Creditors: amounts falling due after more than one year
(760,134)
(819,259)
Net liabilities
(340,151)
(388,594)
Called up share capital
200
200
Profit and loss account
(340,351)
(388,794)
Shareholders' funds
(340,151)
(388,594)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 October 2023 and were signed on its behalf by
Mr Rajesh Kohli
Director
Company Registration No. 04072414
Power Accountax Limited
Notes to the Accounts
for the year ended 31 March 2023
Power Accountax Limited is a private company, limited by shares, registered in England and Wales, registration number 04072414. The registered office is Mailbox 3, Solent Business Centre, 343 Millbrook Road West, Southampton, Southampton, SO15 0HW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
4
Tangible fixed assets
Plant & machinery
Power Accountax Limited
Notes to the Accounts
for the year ended 31 March 2023
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
280,687
Valuation at 31 March 2023
280,687
Amounts falling due within one year
Accrued income and prepayments
56
-
Amounts falling due after more than one year
Other debtors
103,310
78,500
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
16,302
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
760,134
731,183
Loans from directors
-
88,076
Power Accountax Limited
Notes to the Accounts
for the year ended 31 March 2023
9
Transactions with related parties
Power Consulting UK Ltd
(The director is a family member)
At the balance sheet date the amount due to Power Consulting UK Ltd was £27,077 (2022 - £27,077).
Power Account
(The director is a family member)
At the balance sheet date the amount due to Power Account was £201,236 (2022- £201,236).
Apto Accounting Limited
(The director is a family member)
At the balance sheet date the amount due to Apto Accounting Ltd was £235,700 (2022 -£235,700)
Caprica Online Limited
(The director is a family member)
At the balance sheet date the amount due to Caprica Online Ltd was £221,689 (2022 - £193,586).
Power Umbrella Ltd
(Director is a shareholder.)
At the balance sheet date the amount due to Power Umbrella Ltd was £74,432 (2022 - £56,755).
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).