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REGISTERED NUMBER: 12040180 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

POTERE LIMITED

POTERE LIMITED (REGISTERED NUMBER: 12040180)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POTERE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 June 2024







DIRECTOR: Ms I Vasilaki





REGISTERED OFFICE: 64 Princes Court
88 Brompton Road
London
SW3 1ET





REGISTERED NUMBER: 12040180 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

POTERE LIMITED (REGISTERED NUMBER: 12040180)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90 120
Investment property 5 1,130,000 1,130,000
1,130,090 1,130,120

CURRENT ASSETS
Cash at bank 8,415 11,030

CREDITORS
Amounts falling due within one year 6 9,070 1,501
NET CURRENT (LIABILITIES)/ASSETS (655 ) 9,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,129,435

1,139,649

CREDITORS
Amounts falling due after more than one year 7 (1,165,765 ) (1,142,678 )

PROVISIONS FOR LIABILITIES (5,280 ) (5,280 )
NET LIABILITIES (41,610 ) (8,309 )

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 22,507 22,507
Retained earnings (64,119 ) (30,818 )
SHAREHOLDERS' FUNDS (41,610 ) (8,309 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

POTERE LIMITED (REGISTERED NUMBER: 12040180)

BALANCE SHEET - continued
30 June 2024


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 23 August 2024 and were signed by:





Ms I Vasilaki - Director


POTERE LIMITED (REGISTERED NUMBER: 12040180)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 June 2024

1. STATUTORY INFORMATION

Potere 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.

3. EMPLOYEES AND DIRECTORS

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

POTERE LIMITED (REGISTERED NUMBER: 12040180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 379
DEPRECIATION
At 1 July 2023 259
Charge for year 30
At 30 June 2024 289
NET BOOK VALUE
At 30 June 2024 90
At 30 June 2023 120

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,130,000
NET BOOK VALUE
At 30 June 2024 1,130,000
At 30 June 2023 1,130,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 27,787
Cost 1,102,213
1,130,000

If investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 1,102,213 1,102,213

Investment property was valued on an open market basis on 30 June 2024 by the director .

POTERE LIMITED (REGISTERED NUMBER: 12040180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 1,649 -
Other creditors 7,421 1,501
9,070 1,501

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 630,000 630,000
Other creditors 535,765 512,678
1,165,765 1,142,678

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 630,000 630,000

8. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 22,507