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REGISTERED NUMBER: 01902627 (England and Wales)










Unaudited Financial Statements

for the Period 1 June 2023 to 31 August 2024

for

Power Plus Limited

Power Plus Limited (Registered number: 01902627)






Contents of the Financial Statements
for the Period 1 June 2023 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Power Plus Limited

Company Information
for the Period 1 June 2023 to 31 August 2024







DIRECTORS: P S Gray
T A Gray





SECRETARY: P S Gray





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 01902627 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Power Plus Limited (Registered number: 01902627)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 8,876

CURRENT ASSETS
Stocks - 3,000
Debtors 5 10,963 29,417
Cash at bank 16,654 140,730
27,617 173,147
CREDITORS
Amounts falling due within one year 6 (2,875 ) (48,391 )
NET CURRENT ASSETS 24,742 124,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,742

133,632

PROVISIONS FOR LIABILITIES 8 - (1,686 )
NET ASSETS 24,742 131,946

CAPITAL AND RESERVES
Called up share capital 65 65
Capital redemption reserve 9 170 170
Retained earnings 9 24,507 131,711
24,742 131,946

Power Plus Limited (Registered number: 01902627)

Balance Sheet - continued
31 August 2024


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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





P S Gray - Director


Power Plus Limited (Registered number: 01902627)

Notes to the Financial Statements
for the Period 1 June 2023 to 31 August 2024

1. STATUTORY INFORMATION

Power Plus 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.

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


The principal activity of the company continued to be that of electrical contractors.

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.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicle25% on Reducing balance method
Fixtures and fittings33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.


Power Plus Limited (Registered number: 01902627)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 August 2024

2. ACCOUNTING POLICIES - continued
TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of comprehensive income in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

REPORTING PERIOD
The entity has extended the year end by 3 months to 31 August 2024 as entity has ceased its trading activity further and therefore the comparative amounts presented in the financial statements are not entirely comparable.

3. EMPLOYEES AND DIRECTORS

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

Power Plus Limited (Registered number: 01902627)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 2,144 10,742 12,886
Disposals (2,144 ) (10,742 ) (12,886 )
At 31 August 2024 - - -
DEPRECIATION
At 1 June 2023 1,548 2,462 4,010
Charge for period 340 2,587 2,927
Eliminated on disposal (1,888 ) (5,049 ) (6,937 )
At 31 August 2024 - - -
NET BOOK VALUE
At 31 August 2024 - - -
At 31 May 2023 596 8,280 8,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 23,121
Other debtors 10,963 6,296
10,963 29,417

The directors consider the carrying value of trade and other receivables approximate to their fair value.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 5,492
Taxation and social security - 34,714
Other creditors 2,875 8,185
2,875 48,391

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Power Plus Limited (Registered number: 01902627)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 August 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 10,050
Between one and five years - 5,025
- 15,075

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 1,686

Deferred
tax
£   
Balance at 1 June 2023 1,686
Provided during period (1,686 )
Balance at 31 August 2024 -

9. RESERVES

PROFIT AND LOSS RESERVES

Retained earnings consist of capital redemption reserves.

At the balance sheet date the reserves therefore comprise of the following:
Distributable reserves £24,507
Non Distributable reserves £170

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £27,000 (2023 - £102,000).

11. RELATED PARTY DISCLOSURES

As at the balance sheet date, other debtors includes £6,620 (2023 - £6,269 in other creditors) being amounts due from the directors. This loan is interest free and repaid shortly after the year end.