Power HQ Ltd 13948416 false 2022-03-02 2023-03-31 2023-03-31 The principal activity of the company is the retail sales of 4x4 vehicles and electric bikes. Digita Accounts Production Advanced 6.30.9574.0 true 13948416 2022-03-02 2023-03-31 13948416 2023-03-31 13948416 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 13948416 bus:Revised 2023-03-31 13948416 core:CurrentFinancialInstruments 2023-03-31 13948416 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13948416 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-31 13948416 bus:SmallEntities 2022-03-02 2023-03-31 13948416 bus:AuditExemptWithAccountantsReport 2022-03-02 2023-03-31 13948416 bus:AbridgedAccounts 2022-03-02 2023-03-31 13948416 bus:SmallCompaniesRegimeForAccounts 2022-03-02 2023-03-31 13948416 bus:RegisteredOffice 2022-03-02 2023-03-31 13948416 bus:Director1 2022-03-02 2023-03-31 13948416 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-03-02 2023-03-31 13948416 bus:PrivateLimitedCompanyLtd 2022-03-02 2023-03-31 13948416 core:PlantMachinery 2022-03-02 2023-03-31 13948416 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-02 2023-03-31 13948416 countries:England 2022-03-02 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13948416

Power HQ Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 2 March 2022 to 31 March 2023

 

Power HQ Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Power HQ Ltd

(Registration number: 13948416)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

1,140

Current assets

 

Debtors

15,756

Cash at bank and in hand

 

10,177

 

25,933

Creditors: Amounts falling due within one year

(26,500)

Net current liabilities

 

(567)

Total assets less current liabilities

 

573

Provisions for liabilities

(26)

Net assets

 

547

Capital and reserves

 

Called up share capital

5

2

Retained earnings

545

Shareholders' funds

 

547

 

Power HQ Ltd

(Registration number: 13948416)
Abridged Balance Sheet as at 31 March 2023

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

.........................................
M Cosgrove
Director

 

Power HQ Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 2 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 8
Quay Business Centre
Harvard Court, Winwick Quay
Warrington
WA2 8LT

These financial statements were authorised for issue by the Board on 23 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

 

Power HQ Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 2 March 2022 to 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Power HQ Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 2 March 2022 to 31 March 2023

4

Tangible assets

Total
£

Cost

Additions

1,440

At 31 March 2023

1,440

Depreciation

Charge for the period

300

At 31 March 2023

300

Net book value

At 31 March 2023

1,140

5

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

2

2

     

6

Related party transactions

Summary of transactions with entities with joint control or significant interest

M65 Van Ltd
Jaxer Ltd


 The directors have an interest in
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

Advanced

13,815

13,815

At end of period

13,815

13,815