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REGISTERED NUMBER: 03083604 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

M POWER LIMITED

M POWER LIMITED (REGISTERED NUMBER: 03083604)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M POWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M V Santhiapillai





REGISTERED OFFICE: Lee Gate House
Burnt Ash Road
London
SE12 8RG





REGISTERED NUMBER: 03083604 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

M POWER LIMITED (REGISTERED NUMBER: 03083604)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,815,183 474,857

CURRENT ASSETS
Debtors 5 284,347 1,308,393
Cash at bank and in hand 304,431 38,875
588,778 1,347,268
CREDITORS
Amounts falling due within one year 6 814,579 225,497
NET CURRENT (LIABILITIES)/ASSETS (225,801 ) 1,121,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,589,382

1,596,628

PROVISIONS FOR LIABILITIES 3,795 3,175
NET ASSETS 3,585,587 1,593,453

CAPITAL AND RESERVES
Called up share capital 609 609
Revaluation reserve 7 1,752,953 -
Capital redemption reserve 391 391
Retained earnings 1,831,634 1,592,453
3,585,587 1,593,453

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 27 September 2024 and were signed by:





M V Santhiapillai - Director


M POWER LIMITED (REGISTERED NUMBER: 03083604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

M Power 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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 45 ) .

M POWER LIMITED (REGISTERED NUMBER: 03083604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 553,140 151,053 1,072 705,265
Additions 1,600,000 5,231 - 1,605,231
Revaluations 1,752,953 - - 1,752,953
At 31 March 2024 3,906,093 156,284 1,072 4,063,449
DEPRECIATION
At 1 April 2023 94,999 134,455 954 230,408
Charge for year 11,094 6,693 71 17,858
At 31 March 2024 106,093 141,148 1,025 248,266
NET BOOK VALUE
At 31 March 2024 3,800,000 15,136 47 3,815,183
At 31 March 2023 458,141 16,598 118 474,857

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2024 1,752,953 - - 1,752,953
Cost 2,153,140 156,284 1,072 2,310,496
3,906,093 156,284 1,072 4,063,449

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,153,140 -
Aggregate depreciation (106,093 ) -

Freehold land and buildings were valued on an open market basis on 31 March 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 276,576 144,793
Amounts owed by group undertakings - 1,157,154
Other debtors 7,771 6,446
284,347 1,308,393

M POWER LIMITED (REGISTERED NUMBER: 03083604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,600 11,840
Amounts owed to group undertakings 586,737 -
Taxation and social security 143,591 162,809
Other creditors 81,651 50,848
814,579 225,497

7. RESERVES
Revaluation
reserve
£   
Arising in the year 1,752,953

At 31 March 2024 1,752,953

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M V Santhiapillai.