Potion Dynamo Limited |
Registered number: |
11198165 |
Balance Sheet |
as at 31 December 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Current assets |
Stocks |
|
|
64,338 |
|
|
66,396 |
Debtors |
3 |
|
7,845 |
|
|
4,742 |
Cash at bank and in hand |
|
|
80,490 |
|
|
28,178 |
|
|
|
152,673 |
|
|
99,316 |
|
Creditors: amounts falling due within one year |
4 |
|
(15,332) |
|
|
(1,000) |
|
Net current assets |
|
|
|
137,341 |
|
|
98,316 |
|
Total assets less current liabilities |
|
|
|
137,341 |
|
|
98,316 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(356,724) |
|
|
(257,029) |
|
|
|
Net liabilities |
|
|
|
(219,383) |
|
|
(158,713) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(219,385) |
|
|
(158,715) |
|
Shareholder's funds |
|
|
|
(219,383) |
|
|
(158,713) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Elise Kandrac |
Director |
Approved by the board on 8 March 2024 |
|
Potion Dynamo Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 4 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
Tax loss arising in the current period has been carried forward to offset againt future taxable profits. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is not considered material |
|
|
Foreign currency translation |
|
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. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
- |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
7,845 |
|
4,742 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Trade creditors |
125 |
|
- |
|
Taxation and social security costs |
13,007 |
|
- |
|
Other creditors |
2,200 |
|
1,000 |
|
|
|
|
|
|
15,332 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Director's loan account |
356,724 |
|
257,029 |
|
|
|
|
|
|
|
|
|
|
6 |
Going concern |
|
|
The accounts are prepared on the going concern basis which assumes the continued support of the director ( see note 5 ) . This loan is interest free and repayable once cash flow allows |
|
|
7 |
Other information |
|
|
Potion Dynamo Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
127 Cambridge Street |
|
London |
|
SW1V 4PZ |