REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
POWDERTREE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
POWDERTREE LIMITED |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
POWDERTREE LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 April 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Baird House |
Seebeck Place |
Knowlhill |
Milton Keynes |
Buckinghamshire |
MK5 8FR |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
BALANCE SHEET |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
BALANCE SHEET - continued |
30 April 2023 |
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 |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Powdertree Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Land and buildings is stated at the last valuation and is not amortised as the directors consider that the buildings are well maintained and do not depreciate. In the director's opinion the market value of the land and buildings as at 30/04/2023 is £475,000 (2022: £475,000). |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2023 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 30 April 2023 is represented by: |
£ |
Valuation in 2019 | 63,666 |
Cost | 411,334 |
475,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 411,334 | 411,334 |
Investment property was valued on an open market basis on 30 April 2019 by the director . |
7. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security | ( |
) |
Other creditors |
( |
) |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
10. | SECURED DEBTS |
Bank loans and overdrafts are secured by a charge over the properties of both Powdertree Limited and D.F.W. Litlington Limited. In addition to this there is a personal guarantee by director Mr N Womersley in the amount of £50,000. |
POWDERTREE LIMITED (REGISTERED NUMBER: 01667056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 181 | 181 |
12. | RELATED PARTY DISCLOSURES |
D.F.W. Litlington Limited |
Subsidiary Company |
The following amounts are included within creditors due within 1 year in respect of D.F.W. Litlington Limited. |
- group loan £232,779 (2022: £198,820) |
The following amounts are included within creditors due after 1 year in respect of D.F.W. Litlington Limited: |
- group loan £1,030,000 (2022: £1,030,000) |
During the year D.F.W Litlington was charged at £76,869 (2022: £69,240) in respect of loan interest. |
2023 | 2022 |
£ | £ |
Amount due from related party at the balance sheet date | 1,262,779 | 1,228,820 |