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Company Registration No. 12076971 (England and Wales)
POWERFULX UK LTD Unaudited accounts for the year ended 31 July 2024
POWERFULX UK LTD Unaudited accounts Contents
Page
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POWERFULX UK LTD Company Information for the year ended 31 July 2024
Director
Mrs EU GENE CHUNG
Company Number
12076971 (England and Wales)
Registered Office
Flat 12 17-19 Elsworthy Road London NW3 3DS United Kingdom
Accountants
FURUICHOI & CO Chartered Accountants 69 Station Road Hampton Greater London TW12 2BT
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POWERFULX UK LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,569 
1,814 
Current assets
Debtors
20,000 
20,000 
Cash at bank and in hand
33 
1,213 
20,033 
21,213 
Creditors: amounts falling due within one year
(11,364)
(9,693)
Net current assets
8,669 
11,520 
Total assets less current liabilities
10,238 
13,334 
Creditors: amounts falling due after more than one year
(79,700)
(79,700)
Net liabilities
(69,462)
(66,366)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(69,562)
(66,466)
Shareholders' funds
(69,462)
(66,366)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2024 and were signed on its behalf by
Mrs EU GENE CHUNG Director Company Registration No. 12076971
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POWERFULX UK LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
POWERFULX UK LTD is a private company, limited by shares, registered in England and Wales, registration number 12076971. The registered office is Flat 12, 17-19 Elsworthy Road, London, NW3 3DS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
15% reducing balance
Going concern
The director has reasonable expectation that the Company has adequate resources from its parent company to continue in operational existence for the foreseeable future. Accordingly, they have prepared the financial statements under the going concern basis.
Workplace Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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POWERFULX UK LTD Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2023
3,257 
Additions
32 
At 31 July 2024
3,289 
Depreciation
At 1 August 2023
1,443 
Charge for the year
277 
At 31 July 2024
1,720 
Net book value
At 31 July 2024
1,569 
At 31 July 2023
1,814 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
20,000 
20,000 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
7,663 
7,663 
Taxes and social security
1,671 
- 
Other creditors
2,030 
2,030 
11,364 
9,693 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
9,900 
9,900 
Loans from directors
69,800 
69,800 
79,700 
79,700 
The parent entity in South Korea has funded total GBP 69,800 plus GBP 10,000 for initial share payments purposes since its UK subsidiary established on 1 July 2019.
8
Controlling party
By virtue of its relevant legal entity's 100% shareholding the immediate parent undertaking is Powerfulx Co., Ltd (Business Registration No. 261-81-21313), a business incorporated in South Korea.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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