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REGISTERED NUMBER: 09937813 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Potentialife Limited

Potentialife Limited (Registered number: 09937813)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Potentialife Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: A Ridgway





REGISTERED OFFICE: 36A Market Street
New Mills
High Peak
SK22 4AA





REGISTERED NUMBER: 09937813 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Potentialife Limited (Registered number: 09937813)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,251 1,854

CURRENT ASSETS
Debtors 5 700,629 635,050
Cash at bank 19,165 4,465
719,794 639,515
CREDITORS
Amounts falling due within one year 6 626,152 566,763
NET CURRENT ASSETS 93,642 72,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,893

74,606

RESERVES
Retained earnings 94,893 74,606
94,893 74,606

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 14 May 2024 and were signed by:





A Ridgway - Director


Potentialife Limited (Registered number: 09937813)

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

1. STATUTORY INFORMATION

Potentialife Limited 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 reducing balance
Computer equipment - 33% on reducing balance

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 ) .

Potentialife Limited (Registered number: 09937813)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 192 3,886 4,078
DEPRECIATION
At 1 February 2023 84 2,140 2,224
Charge for year 27 576 603
At 31 January 2024 111 2,716 2,827
NET BOOK VALUE
At 31 January 2024 81 1,170 1,251
At 31 January 2023 108 1,746 1,854

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 685,878 621,078
Tax 14,751 13,972
700,629 635,050

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 635 -
Social security and other taxes 35 -
VAT 20,294 -
Directors' current accounts 569,719 565,903
Accrued expenses 35,469 860
626,152 566,763