IRIS Accounts Production v24.2.0.383 04124695 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041246952022-12-31041246952023-12-31041246952023-01-012023-12-31041246952017-12-31041246952018-01-012022-12-31041246952022-12-3104124695ns15:EnglandWales2023-01-012023-12-3104124695ns14:PoundSterling2023-01-012023-12-3104124695ns10:Director12023-01-012023-12-3104124695ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104124695ns10:SmallEntities2023-01-012023-12-3104124695ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3104124695ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104124695ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104124695ns10:FullAccounts2023-01-012023-12-3104124695ns10:Director32023-01-012023-12-3104124695ns10:Director42023-01-012023-12-3104124695ns10:RegisteredOffice2023-01-012023-12-3104124695ns5:CurrentFinancialInstruments2023-12-3104124695ns5:CurrentFinancialInstruments2022-12-3104124695ns5:Non-currentFinancialInstruments2023-12-3104124695ns5:Non-currentFinancialInstruments2022-12-3104124695ns5:ShareCapital2023-12-3104124695ns5:ShareCapital2022-12-3104124695ns5:RetainedEarningsAccumulatedLosses2023-12-3104124695ns5:RetainedEarningsAccumulatedLosses2022-12-3104124695ns5:PlantMachinery2023-01-012023-12-3104124695ns5:FurnitureFittings2023-01-012023-12-3104124695ns5:PlantMachinery2022-12-3104124695ns5:FurnitureFittings2022-12-3104124695ns5:PlantMachinery2023-12-3104124695ns5:FurnitureFittings2023-12-3104124695ns5:PlantMachinery2022-12-3104124695ns5:FurnitureFittings2022-12-3104124695ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104124695ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104124695ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3104124695ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-31
















POWERLEASE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2023






POWERLEASE LTD (REGISTERED NUMBER: 04124695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

POWERLEASE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: C M Ambler
T A Cullen
T D Downes





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate, Kempston
Bedford
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 04124695 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

POWERLEASE LTD (REGISTERED NUMBER: 04124695)

BALANCE SHEET
31ST DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,404 11,242

CURRENT ASSETS
Stocks 1,034,440 1,792,042
Debtors 5 357,021 153,823
Cash at bank and in hand 739,868 120,097
2,131,329 2,065,962
CREDITORS
Amounts falling due within one year 6 1,639,122 1,109,953
NET CURRENT ASSETS 492,207 956,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

507,611

967,251

CREDITORS
Amounts falling due after more than one
year

7

(26,042

)

-

PROVISIONS FOR LIABILITIES (3,808 ) (2,135 )
NET ASSETS 477,761 965,116

CAPITAL AND RESERVES
Called up share capital 96 96
Retained earnings 477,665 965,020
477,761 965,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

POWERLEASE LTD (REGISTERED NUMBER: 04124695)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2024 and were signed on its behalf by:





C M Ambler - Director


POWERLEASE LTD (REGISTERED NUMBER: 04124695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Powerlease 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

POWERLEASE LTD (REGISTERED NUMBER: 04124695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2023 17,104 32,023 49,127
Additions 4,453 3,557 8,010
At 31st December 2023 21,557 35,580 57,137
DEPRECIATION
At 1st January 2023 16,159 21,726 37,885
Charge for year 798 3,050 3,848
At 31st December 2023 16,957 24,776 41,733
NET BOOK VALUE
At 31st December 2023 4,600 10,804 15,404
At 31st December 2022 945 10,297 11,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 262,229 90,382
Customer Finance Account 65,032 19,074
Other debtors - 2,250
VAT - 24,858
Prepayments and accrued income 29,760 17,259
357,021 153,823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 62,500 -
Trade creditors 31,710 (51,838 )
Corporation tax 324,978 114,068
Social security and other taxes 14,516 8,613
VAT 255,061 -
Net wages 30,995 20,745
Credit card 19,424 -
Motonovo Finance - Stocking 762,140 642,034
Other creditors 47,689 29,776
Directors' current accounts 83,212 25,486
Accrued expenses 6,897 321,069
1,639,122 1,109,953

POWERLEASE LTD (REGISTERED NUMBER: 04124695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans - 2-5 years 26,042 -

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POWERLEASE LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powerlease Ltd for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Powerlease Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powerlease Ltd and state those matters that we have agreed to state to the Board of Directors of Powerlease Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powerlease Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Powerlease Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Powerlease Ltd. You consider that Powerlease Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powerlease Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


13th September 2024