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Registered number: 4725224

















Powerduel Limited
Financial Statements
Information For Filing With The Registrar
For The Year Ended 31 December 2022

 
Powerduel Limited
 
 
Company Information


Directors
F Bottenberg 
H Brockmueller 




Registered number
4725224



Registered office
Brook House
54a Cowley Mill Road

Uxbridge

UB8 2QE





 
Powerduel Limited
 

Contents



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 5


 
Powerduel Limited
Registered number:4725224

Statement of Financial Position
As at 31 December 2022

2022
2022
2021
2021
Note

Fixed assets
  

Tangible assets
 4 
364,889
370,262

  
364,889
370,262

  

Creditors: amounts falling due within one year
 5 
(764,511)
(731,220)

Net current liabilities
  
 
 
(764,511)
 
 
(731,220)

Total assets less current liabilities
  
(399,622)
(360,958)

  

Net liabilities
  
(399,622)
(360,958)

Page 1

 
Powerduel Limited
Registered number:4725224
    
Statement of Financial Position (continued)
As at 31 December 2022

2022
2022
2021
2021
Note

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(399,623)
(360,959)

  
(399,622)
(360,958)


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



H Brockmueller
Director

Date: 26 December 2023

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Powerduel Limited
 
 
Notes To The Financial Statements
For The Year Ended 31 December 2022

1.


General information

Powerduel Limited is a private company, limited by shares, domiciled in England and Wales, registration number 4725224.  The registered office is Brook House 54a Cowley Mill Road Uxbridge UB8 2QE and the principal place of business is 15R Eaton Square London SW1W 9DD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

L/Term Leasehold Property
-
over 75 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.3

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
Powerduel Limited
 
 
Notes To The Financial Statements
For The Year Ended 31 December 2022

2.Accounting policies (continued)

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 4

 
Powerduel Limited
 
 
Notes To The Financial Statements
For The Year Ended 31 December 2022

4.


Tangible fixed assets





L/Term Leasehold Property




Cost or valuation


At 1 January 2022
403,000



At 31 December 2022

403,000



Depreciation


At 1 January 2022
32,738


Charge for the year on owned assets
5,373



At 31 December 2022

38,111



Net book value



At 31 December 2022
364,889



At 31 December 2021
370,262




The net book value of land and buildings may be further analysed as follows:


2022
2021

Long leasehold
364,889
370,262



5.


Creditors: Amounts falling due within one year

2022
2021

Other creditors
520,283
520,283

Accruals and deferred income
244,228
210,937

764,511
731,220


 
Page 5