10 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 349,011 45,070 36,500 357,581 241,636 21,286 29,555 233,367 124,214 107,375 xbrli:pure xbrli:shares iso4217:GBP 07015933 2023-01-01 2023-12-31 07015933 2023-12-31 07015933 2022-12-31 07015933 2022-01-01 2022-12-31 07015933 2022-12-31 07015933 core:PlantMachinery 2023-01-01 2023-12-31 07015933 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07015933 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07015933 bus:Director1 2023-01-01 2023-12-31 07015933 bus:Director2 2023-01-01 2023-12-31 07015933 core:PlantMachinery 2022-12-31 07015933 core:PlantMachinery 2023-12-31 07015933 core:WithinOneYear 2023-12-31 07015933 core:WithinOneYear 2022-12-31 07015933 core:ShareCapital 2023-12-31 07015933 core:ShareCapital 2022-12-31 07015933 core:RetainedEarningsAccumulatedLosses 2023-12-31 07015933 core:RetainedEarningsAccumulatedLosses 2022-12-31 07015933 core:PlantMachinery 2022-12-31 07015933 bus:SmallEntities 2023-01-01 2023-12-31 07015933 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07015933 bus:FullAccounts 2023-01-01 2023-12-31 07015933 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07015933 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07015933 bus:OrdinaryShareClass1 2023-12-31 07015933 bus:OrdinaryShareClass1 2022-12-31 07015933 bus:OrdinaryShareClass2 2023-12-31 07015933 bus:OrdinaryShareClass2 2022-12-31 07015933 bus:AllOrdinaryShares 2023-12-31 07015933 bus:AllOrdinaryShares 2022-12-31
COMPANY REGISTRATION NUMBER: 07015933
Pow Heads Power Washing Ltd
Filleted Unaudited Financial Statements
31 December 2023
Pow Heads Power Washing Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
124,214
107,375
Current assets
Stocks
1,295
1,295
Debtors
6
87,981
52,486
Cash at bank and in hand
21,297
53,907
-----------
-----------
110,573
107,688
Creditors: amounts falling due within one year
7
52,664
59,947
-----------
-----------
Net current assets
57,909
47,741
-----------
-----------
Total assets less current liabilities
182,123
155,116
Provisions
Taxation including deferred tax
23,601
20,401
-----------
-----------
Net assets
158,522
134,715
-----------
-----------
Capital and reserves
Called up share capital
8
110
110
Profit and loss account
158,412
134,605
-----------
-----------
Shareholders funds
158,522
134,715
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pow Heads Power Washing Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 8 February 2024 , and are signed on behalf of the board by:
Mr A J Barrow
Ms M E Stockdale
Director
Director
Company registration number: 07015933
Pow Heads Power Washing Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pow Heads, Mealsgate, Wigton, Cumbria, CA7 1DF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have had any significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There were no key assumptions and other sources of estimation uncertainty that have had a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Stocks
Stocks are measured 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 the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 January 2023
349,011
349,011
Additions
45,070
45,070
Disposals
( 36,500)
( 36,500)
-----------
-----------
At 31 December 2023
357,581
357,581
-----------
-----------
Depreciation
At 1 January 2023
241,636
241,636
Charge for the year
21,286
21,286
Disposals
( 29,555)
( 29,555)
-----------
-----------
At 31 December 2023
233,367
233,367
-----------
-----------
Carrying amount
At 31 December 2023
124,214
124,214
-----------
-----------
At 31 December 2022
107,375
107,375
-----------
-----------
6. Debtors
2023
2022
£
£
Trade debtors
87,981
52,486
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,846
Trade creditors
1,773
251
Corporation tax
12,473
17,262
Social security and other taxes
33,927
28,147
Other creditors
4,491
3,441
---------
---------
52,664
59,947
---------
---------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
Ordinary "A" shares of £ 1 each
10
10
10
10
-----
-----
-----
-----
110
110
110
110
-----
-----
-----
-----
9. Directors' advances, credits and guarantees
The directors were not advanced any amounts during the period .
10. Related party transactions
The company was under the control of Mr A J Barrow and Ms M E Stockdale throughout the current year. Mr A J Barrow and Ms M E Stockdale are joint managing directors. No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102 Section 1A.