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REGISTERED NUMBER: 13974079 (England and Wales)















Potentia Engineering Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Potentia Engineering Ltd (Registered number: 13974079)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Potentia Engineering Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs K C A Smith
D S Smith





REGISTERED OFFICE: The White House
2 Meadrow
Godalming
Surrey
GU7 3HN





REGISTERED NUMBER: 13974079 (England and Wales)





ACCOUNTANTS: Hughes Waddell
The White House
2 Meadrow
Godalming
Surrey
GU7 3HN

Potentia Engineering Ltd (Registered number: 13974079)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,389 26,985

CURRENT ASSETS
Debtors 5 12,172 39,021
Cash at bank 74,263 34,909
86,435 73,930
CREDITORS
Amounts falling due within one year 6 68,803 53,524
NET CURRENT ASSETS 17,632 20,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,021

47,391

PROVISIONS FOR LIABILITIES 3,992 5,127
NET ASSETS 55,029 42,264

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 55,027 42,262
55,029 42,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Potentia Engineering Ltd (Registered number: 13974079)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





D S Smith - Director


Potentia Engineering Ltd (Registered number: 13974079)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Potentia Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery etc - 33% on cost and 25% on cost

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

3. EMPLOYEES AND DIRECTORS

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

Potentia Engineering Ltd (Registered number: 13974079)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 36,229
Additions 31,723
At 31 March 2024 67,952
DEPRECIATION
At 1 April 2023 9,244
Charge for year 17,319
At 31 March 2024 26,563
NET BOOK VALUE
At 31 March 2024 41,389
At 31 March 2023 26,985

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,882 5,849
Other debtors 7,290 33,172
12,172 39,021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 14,970 10,760
Taxation and social security 29,532 24,494
Other creditors 24,301 18,270
68,803 53,524