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REGISTERED NUMBER: 11815703 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

POWERFOUR HOLDINGS LTD

POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWERFOUR HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr B Garforth





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 11815703 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,287 1,467,100
Investment property 5 1,581,329 -
1,608,616 1,467,100

CURRENT ASSETS
Debtors 6 66,146 133,300
Investments 7 101 101
Cash at bank 15,009 58,798
81,256 192,199
CREDITORS
Amounts falling due within one year 8 277,305 207,553
NET CURRENT LIABILITIES (196,049 ) (15,354 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,412,567

1,451,746

CREDITORS
Amounts falling due after more than one
year

9

841,124

906,736
NET ASSETS 571,443 545,010

CAPITAL AND RESERVES
Called up and paid share capital 200 100
Retained earnings 571,243 544,910
571,443 545,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





Mr B Garforth - Director


POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Powerfour Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Powerfour Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

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.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Rental property
Rental income is measured at the fair value of the consideration received or receivable in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 1,467,100 - 1,467,100
Additions - 36,382 36,382
Disposals (1,467,100 ) - (1,467,100 )
At 28 February 2023 - 36,382 36,382
DEPRECIATION
Charge for year - 9,095 9,095
At 28 February 2023 - 9,095 9,095
NET BOOK VALUE
At 28 February 2023 - 27,287 27,287
At 28 February 2022 1,467,100 - 1,467,100

POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,581,329
At 28 February 2023 1,581,329
NET BOOK VALUE
At 28 February 2023 1,581,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,046 19,071
Amounts owed by participating interests - 114,229
Other debtors 100 -
66,146 133,300

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Shares in group undertakings 101 101

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 82,453 77,494
Hire purchase contracts 4,409 -
Trade creditors 14,101 5,478
Amounts owed to participating interests 162,288 60,901
Taxation and social security 12,469 12,663
Other creditors 1,585 51,017
277,305 207,553

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 819,323 906,736
Hire purchase contracts 21,801 -
841,124 906,736

POWERFOUR HOLDINGS LTD (REGISTERED NUMBER: 11815703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 505,260 603,509

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 901,776 984,230

The loan is secured by way of a charge over the freehold property held by the company

11. RELATED PARTY DISCLOSURES

Included in other creditors are amounts owing of £165,788 (2022: £60,901) from a company under the control of the directors. The loans are interest free and repayable on demand.

Included in other debtors are amounts owing of £nil (2022: £114,229) from a company under the control of the directors. The loans are interest free and repayable on demand.