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Registered Number: 11136410
England and Wales

 

 

 

POWERPLUS GROUP (PPG) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 31 January 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
Akhter's Limited
Akhter's Limited

64
Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FN
17 July 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 68,852    108,419 
68,852    108,419 
Current assets      
Stocks 15,000    80,465 
Debtors 773,177    551,741 
Cash at bank and in hand 189,779    495,965 
977,956    1,128,171 
Creditors: amount falling due within one year (337,669)   (658,359)
Net current assets 640,287    469,812 
 
Total assets less current liabilities 709,139    578,231 
Creditors: amount falling due after more than one year (35,000)   (40,485)
Net assets 674,139    537,746 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 674,039    537,646 
Shareholders' funds 674,139    537,746 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 17 July 2024 and were signed on its behalf by:


-------------------------------
Luke Stuart Handley
Director
2
General Information
POWERPLUS GROUP (PPG) LTD is a private company, limited by shares, registered in England and Wales, registration number 11136410, registration address Linley Court Ppg Linley Court, Long Acre, Bingham, Notttingham, Nottinghamshire, NG13 8FA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 18 % Reducing Balance
Motor Vehicles 33.33 % Straight Line
Office Equipment 18 % Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employee

Average number of employees during the year was 17 (2023 : 15).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Office Equipment   Total
  £   £   £   £
At 01 February 2023 62,791    81,977    45,762    190,530 
Additions   20,834    1,900    22,734 
Disposals   (70,083)     (70,083)
At 31 January 2024 62,791    32,728    47,662    143,181 
Depreciation
At 01 February 2023 28,384    36,753    16,974    82,111 
Charge for year 6,193    17,917    5,478    29,588 
On disposals   (37,370)     (37,370)
At 31 January 2024 34,577    17,300    22,452    74,329 
Net book values
Closing balance as at 31 January 2024 28,214    15,428    25,210    68,852 
Opening balance as at 01 February 2023 34,407    45,224    28,788    108,419 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3