24 Power Ltd 12598609 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is renewable energy. Digita Accounts Production Advanced 6.30.9574.0 true true 12598609 2023-06-01 2024-05-31 12598609 2024-05-31 12598609 core:CurrentFinancialInstruments 2024-05-31 12598609 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 12598609 core:OfficeEquipment 2024-05-31 12598609 bus:SmallEntities 2023-06-01 2024-05-31 12598609 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12598609 bus:FullAccounts 2023-06-01 2024-05-31 12598609 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12598609 bus:RegisteredOffice 2023-06-01 2024-05-31 12598609 bus:Director1 2023-06-01 2024-05-31 12598609 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12598609 core:OfficeEquipment 2023-06-01 2024-05-31 12598609 countries:EnglandWales 2023-06-01 2024-05-31 12598609 2023-05-31 12598609 core:OfficeEquipment 2023-05-31 12598609 2022-06-01 2023-05-31 12598609 2023-05-31 12598609 core:CurrentFinancialInstruments 2023-05-31 12598609 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12598609 core:OfficeEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 12598609

24 Power Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

24 Power Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

24 Power Ltd

Company Information

Director

D Staveley

Registered office

Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA

 

24 Power Ltd

(Registration number: 12598609)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

662

Current assets

 

Stocks

5

625,077

281,260

Debtors

6

79,077

81,440

Cash at bank and in hand

 

40,464

575

 

744,618

363,275

Creditors: Amounts falling due within one year

7

(749,278)

(367,459)

Net current liabilities

 

(4,660)

(4,184)

Net liabilities

 

(4,660)

(3,522)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(4,760)

(3,622)

Shareholders' deficit

 

(4,660)

(3,522)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

24 Power Ltd

(Registration number: 12598609)
Balance Sheet as at 31 May 2024

Approved and authorised by the director on 4 September 2024
 

.........................................
D Staveley
Director

 

24 Power Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA
England

These financial statements were authorised for issue by the director on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

The company has net liabilities. The financial statements have been prepared on the going concern basis which assumes the company will continue to exist for the foreseeable future. This is dependent on the continued support of the directors, who has indicated that amounts due to them will not be withdrawn.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

24 Power Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

24 Power Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

24 Power Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

1,083

1,083

Disposals

(1,083)

(1,083)

At 31 May 2024

-

-

Depreciation

At 1 June 2023

421

421

Eliminated on disposal

(421)

(421)

At 31 May 2024

-

-

Carrying amount

At 31 May 2024

-

-

At 31 May 2023

662

662

5

Stocks

2024
£

2023
£

Work in progress

625,077

281,260

6

Debtors

Current

2024
£

2023
£

Other debtors

79,077

81,440

 

24 Power Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

545,000

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

164,422

354,768

Taxation and social security

 

39,856

11,896

Accruals and deferred income

 

-

795

 

749,278

367,459

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

545,000

-