2022-03-012023-02-282023-02-28false07955136Powerlets Property Services 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Powerlets Property Services Limited

Registered Number
07955136
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Powerlets Property Services Limited
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

Vrahimi, Kerry

Registered Address

2 Palacegates Road
London
N22 7BN

Registered Number

07955136 (England and Wales)
Powerlets Property Services Limited
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets53,7334,666
3,7334,666
Current assets
Debtors61,0704,090
Cash at bank and on hand138,36193,070
139,43197,160
Creditors amounts falling due within one year7(55,763)(5,885)
Net current assets (liabilities)83,66891,275
Total assets less current liabilities87,40195,941
Creditors amounts falling due after one year(30,087)(43,471)
Provisions for liabilities(1,771)(1,771)
Net assets55,54350,699
Capital and reserves
Called up share capital22
Profit and loss account55,54150,697
Shareholders' funds55,54350,699
The financial statements were approved and authorised for issue by the Director on 24 November 2023, and are signed on its behalf by:
Vrahimi, Kerry
Director
Registered Company No. 07955136
Powerlets Property Services Limited
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 2225,307
At 28 February 2325,307
Depreciation and impairment
At 01 March 2220,641
Charge for year933
At 28 February 2321,574
Net book value
At 28 February 233,733
At 28 February 224,666
6.Debtors

2023

2022

££
Trade debtors / trade receivables1,070-
Other debtors-4,090
Total1,0704,090
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,1621,341
Bank borrowings and overdrafts21,4142,860
Taxation and social security8,7871,684
Accrued liabilities and deferred income24,400-
Total55,7635,885
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.