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REGISTERED NUMBER: 08848275 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

POTENZA DEVELOPMENTS LIMITED

POTENZA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08848275)

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


POTENZA DEVELOPMENTS LIMITED

Company Information
for the year ended 31 January 2024







Director: Mr K J Monk





Registered office: Amis Piling and Dredging, Potenza House
Stalham Road Industrial Estate
Littlewood Lane
Hoveton
Norfolk
NR12 8DZ





Registered number: 08848275 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

POTENZA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08848275)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 525,478 9,792

Current assets
Debtors 5 131,342 72,106
Cash at bank - 16,805
131,342 88,911
Creditors
Amounts falling due within one year 6 226,759 50,472
Net current (liabilities)/assets (95,417 ) 38,439
Total assets less current liabilities 430,061 48,231

Creditors
Amounts falling due after more than one
year

7

387,348

15,073
Net assets 42,713 33,158

Capital and reserves
Called up share capital 8 100 100
Retained earnings 42,613 33,058
Shareholders' funds 42,713 33,158

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:





Mr K J Monk - Director


POTENZA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08848275)

Notes to the Financial Statements
for the year ended 31 January 2024


1. Statutory information

Potenza Developments 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.

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 - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

3. Employees and directors

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

POTENZA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08848275)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


4. Tangible fixed assets
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1 February 2023 - 10,000 10,000
Additions 525,478 - 525,478
Disposals - (10,000 ) (10,000 )
At 31 January 2024 525,478 - 525,478
Depreciation
At 1 February 2023 - 208 208
Charge for year - 1,428 1,428
Eliminated on disposal - (1,636 ) (1,636 )
At 31 January 2024 - - -
Net book value
At 31 January 2024 525,478 - 525,478
At 31 January 2023 - 9,792 9,792

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 131,342 72,106

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 12,208 6,194
Taxation and social security 21,872 39,499
Other creditors 192,679 4,779
226,759 50,472

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 387,348 15,073

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 378,626 -

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

POTENZA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08848275)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr K J Monk
Balance outstanding at start of year (1,779 ) 49,772
Amounts advanced 103,900 102,099
Amounts repaid (228,800 ) (153,650 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (126,679 ) (1,779 )