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REGISTERED NUMBER: 08505389 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

POTENTIAL IGNITED LTD

POTENTIAL IGNITED LTD (REGISTERED NUMBER: 08505389)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POTENTIAL IGNITED LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Dr R Maung





REGISTERED OFFICE: 409-411 Croydon Road
Beckenham
BR3 3PP





REGISTERED NUMBER: 08505389 (England and Wales)





ACCOUNTANTS: Edwards Chartered Accountants
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

POTENTIAL IGNITED LTD (REGISTERED NUMBER: 08505389)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,420 2,087
Investments 5 60,000 60,000
61,420 62,087

CURRENT ASSETS
Debtors 6 3,328 3,156
Cash at bank 79,219 61,662
82,547 64,818
CREDITORS
Amounts falling due within one year 7 10,444 5,322
NET CURRENT ASSETS 72,103 59,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,523

121,583

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 133,522 121,582
133,523 121,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Dr R Maung - Director


POTENTIAL IGNITED LTD (REGISTERED NUMBER: 08505389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Potential Ignited 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.

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.

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

POTENTIAL IGNITED LTD (REGISTERED NUMBER: 08505389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 May 2023 3,778 32,360 36,138
Additions 359 - 359
At 30 April 2024 4,137 32,360 36,497
DEPRECIATION
At 1 May 2023 1,691 32,360 34,051
Charge for year 1,026 - 1,026
At 30 April 2024 2,717 32,360 35,077
NET BOOK VALUE
At 30 April 2024 1,420 - 1,420
At 30 April 2023 2,087 - 2,087

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 60,000
NET BOOK VALUE
At 30 April 2024 60,000
At 30 April 2023 60,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,328 3,156

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,871 -
Other creditors 5,573 5,322
10,444 5,322

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr R Maung.