1 December 2022 false No description of principal activity Taxfiler 2024.5 10463911business:PrivateLimitedCompanyLtd2022-12-012023-11-30 104639112022-11-30 104639112022-12-012023-11-30 10463911business:AuditExempt-NoAccountantsReport2022-12-012023-11-30 10463911business:FilletedAccounts2022-12-012023-11-30 104639112023-11-30 104639112022-11-30 10463911core:WithinOneYear2023-11-30 10463911core:WithinOneYear2022-11-30 10463911core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 10463911core:ShareCapitalcore:PreviouslyStatedAmount2022-11-30 10463911core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 10463911core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-11-30 10463911core:PreviouslyStatedAmount2023-11-30 10463911core:PreviouslyStatedAmount2022-11-30 10463911business:SmallEntities2022-12-012023-11-30 10463911business:Director12022-12-012023-11-30 10463911countries:EnglandWales2022-12-012023-11-30 10463911business:RegisteredOffice2022-12-012023-11-30 10463911core:PlantMachinery2022-12-012023-11-30 10463911core:MotorVehicles2022-12-012023-11-30 10463911core:PlantMachinery2022-11-30 10463911core:MotorVehicles2022-11-30 10463911core:PlantMachinery2023-11-30 10463911core:MotorVehicles2023-11-30 104639112021-12-012022-11-30 iso4217:GBP xbrli:pure
POWER KNITWEAR LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,472 
16,074 
Current assets
Inventories
12,500 
4,500 
Debtors
43,268 
62,782 
Cash at bank and in hand
94,656 
149,271 
150,424 
216,553 
Creditors: amounts falling due within one year
(40,984)
(84,871)
Net current assets
109,440 
131,682 
Net assets
120,912 
147,756 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
120,902 
147,746 
Shareholders' funds
120,912 
147,756 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 August 2024 and were signed on its behalf by
Omar Ali Zahid Director Company Registration No. 10463911
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POWER KNITWEAR LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
POWER KNITWEAR LTD is a private company, limited by shares, registered in England and Wales, registration number 10463911. The registered office is 37 DEVONSHIRE STREET NORTH, MANCHESTER, LANCASHIRE, M12 6JR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 November 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 December 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Motor vehicles
20%
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
11,144 
23,022 
34,166 
At 30 November 2023
11,144 
23,022 
34,166 
Depreciation
At 1 December 2022
5,543 
12,549 
18,092 
Charge for the year
1,167 
3,435 
4,602 
At 30 November 2023
6,710 
15,984 
22,694 
Net book value
At 30 November 2023
4,434 
7,038 
11,472 
At 30 November 2022
5,601 
10,473 
16,074 
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POWER KNITWEAR LTD Notes to the Accounts for the year ended 30 November 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
43,268 
62,782 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,211 
10,993 
Trade creditors
12,270 
19,840 
Taxes and social security
(6,483)
16,795 
Other creditors
7,600 
15,600 
Loans from directors
24,186 
20,443 
Accruals
1,200 
1,200 
40,984 
84,871 
7
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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