Registered number
14109325
Power Properties Group Limited
Unaudited Filleted Accounts
31 May 2023
Power Properties Group Limited
Registered number: 14109325
Balance Sheet
as at 31 May 2023
Notes 2023
£
Fixed assets
Tangible assets 3 312,028
Current assets
Cash at bank and in hand 3,453
Creditors: amounts falling due within one year 4 (169,558)
Net current liabilities (166,105)
Total assets less current liabilities 145,923
Creditors: amounts falling due after more than one year 5 (152,280)
Net liabilities (6,357)
Capital and reserves
Called up share capital 1
Profit and loss account (6,358)
Shareholders' funds (6,357)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Charlotte Power
Director
Approved by the board on 19 March 2024
Power Properties Group Limited
Notes to the Accounts
for the period from 16 May 2022 to 31 May 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 rental of property investments held which is recognised on an accruals basis in accordance with tenancy agreements.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 312,028
At 31 May 2023 312,028
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 312,028
4 Creditors: amounts falling due within one year 2023
£
Other creditors 169,558
5 Creditors: amounts falling due after one year 2023
£
Other creditors 152,280
6 Going Concern
The business has the full support of the shareholder and investors and as such the director believes the business to be a going concern.
7 Other information
Power Properties Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Arnolds Yard
Altrincham
WA14 4DL
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