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POWERLINE TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWERLINE TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J G Brocklehurst





REGISTERED OFFICE: Canalside Industrial Estate
Bretton Street
Dewsbury
WF12 9DB





REGISTERED NUMBER: 12463379 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 133,372 81,269

CURRENT ASSETS
Debtors 6 7,580 9,034
Cash at bank 2,899 1,426
10,479 10,460
CREDITORS
Amounts falling due within one year 7 67,874 42,372
NET CURRENT LIABILITIES (57,395 ) (31,912 )
TOTAL ASSETS LESS CURRENT LIABILITIES 75,977 49,357

PROVISIONS FOR LIABILITIES 8 18,170 563
NET ASSETS 57,807 48,794

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 57,806 48,793
SHAREHOLDERS' FUNDS 57,807 48,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

BALANCE SHEET - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





J G Brocklehurst - Director


POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Powerline Trading 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 102,225 2,750 315 105,290
Additions 18,155 50,333 - - 68,488
At 29 February 2024 18,155 152,558 2,750 315 173,778
DEPRECIATION
At 1 March 2023 - 22,116 1,591 314 24,021
Charge for year 303 15,791 290 1 16,385
At 29 February 2024 303 37,907 1,881 315 40,406
NET BOOK VALUE
At 29 February 2024 17,852 114,651 869 - 133,372
At 28 February 2023 - 80,109 1,159 1 81,269

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 29 1,926
Other debtors 7,551 -
Directors' current accounts - 7,108
7,580 9,034

POWERLINE TRADING LIMITED (REGISTERED NUMBER: 12463379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 11,519 5,844
Social security and other taxes 17,527 17,585
VAT 21,057 16,759
Other creditors 481 219
Deposits 5,450 1,965
Directors' current accounts 9,935 -
Accrued expenses 1,905 -
67,874 42,372

Loans from directors are interest free and repayable on demand.

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 18,170 563

Deferred
tax
£   
Balance at 1 March 2023 563
Accelerated capital allowances 17,607
Balance at 29 February 2024 18,170

The entire provision for deferred tax relates to accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary 1.00 1 1