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REGISTERED NUMBER: 08853652 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

The Powerful Man Ltd

The Powerful Man Ltd (Registered number: 08853652)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Powerful Man Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr T Matthews
Mr D A Holt





REGISTERED OFFICE: Unit 8 The Courtyard Gaulby Lane
Stoughton
Leicester
Leicestershire
LE2 2FL





REGISTERED NUMBER: 08853652 (England and Wales)





ACCOUNTANTS: M Cubed Chartered Accountants
8 The Courtyard
Gaulby Lane
Stoughton
Leicestershire
LE2 2FL

The Powerful Man Ltd (Registered number: 08853652)

Balance Sheet
31 January 2024

31/1/24 31/1/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,389,888 2,632

CURRENT ASSETS
Debtors 5 243,543 102,332
Cash at bank 493,605 992,582
737,148 1,094,914
CREDITORS
Amounts falling due within one year 6 (1,110,522 ) (861,895 )
NET CURRENT (LIABILITIES)/ASSETS (373,374 ) 233,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,016,514

235,651

CREDITORS
Amounts falling due after more than one
year

7

(1,465,427

)

-

PROVISIONS FOR LIABILITIES (29,742 ) (482 )
NET ASSETS 521,345 235,169

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 521,343 235,167
SHAREHOLDERS' FUNDS 521,345 235,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mr T Matthews - Director


The Powerful Man Ltd (Registered number: 08853652)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The Powerful Man Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company meets its day to day working capital requirements through the support of the director. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

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 charged so as to write off the cost of assets, other than land and properties under construction over their useful lives, as follows:

Plant and machinery - 25% Straight Line Method
Computer Equipment - 33% Straight Line Method
Motor Vehicle - 25% Reducing Balance Method

FINANCIAL INSTRUMENTS
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortisation cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

The Powerful Man Ltd (Registered number: 08853652)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 - 5,337 5,337
Additions 2,270,918 142,548 2,413,466
At 31 January 2024 2,270,918 147,885 2,418,803
DEPRECIATION
At 1 February 2023 - 2,705 2,705
Charge for year - 26,210 26,210
At 31 January 2024 - 28,915 28,915
NET BOOK VALUE
At 31 January 2024 2,270,918 118,970 2,389,888
At 31 January 2023 - 2,632 2,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 210,132 75,241
Other debtors 33,411 27,091
243,543 102,332

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 39,039 -
Trade creditors 266,969 107,677
Taxation and social security 245,195 107,891
Other creditors 559,319 646,327
1,110,522 861,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans 1,465,427 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31/1/24 31/1/23
£    £   
Mr T Matthews
Balance outstanding at start of year - 18,382
Amounts advanced 136,800 106,718
Amounts repaid (110,713 ) (125,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,087 -

The Powerful Man Ltd (Registered number: 08853652)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr D A Holt
Balance outstanding at start of year - -
Amounts advanced 205,400 -
Amounts repaid (206,250 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (850 ) -