Registered number
13326110
Power British Investments Limited
Filleted Accounts
30 April 2024
Power British Investments Limited
Registered number: 13326110
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 792,717 -
Current assets
Debtors 4 1,424 -
Cash at bank and in hand 7,856 377
9,280 377
Creditors: amounts falling due within one year 5 (276,469) (850)
Net current liabilities (267,189) (473)
Total assets less current liabilities 525,528 (473)
Creditors: amounts falling due after more than one year 6 (524,965) -
Net assets/(liabilities) 563 (473)
Capital and reserves
Called up share capital 1 1
Profit and loss account 562 (474)
Shareholder's funds 563 (473)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ali Abdelmajeed Mahmud Al-Tamimi
Director
Approved by the board on 31 January 2025
Power British Investments Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration for rent receivable, net of discounts and value added taxes. The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Investments
Investment
property
£
Cost
Additions 792,717
At 30 April 2024 792,717
4 Debtors 2024 2023
£ £
Other debtors 1,424 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 545 210
Amounts owed to group undertakings and undertakings in which the company has a participating interest and under common control 239,265 400
Taxation and social security costs 132 -
Other creditors 36,527 240
276,469 850
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 524,965 -
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 524,965 -
The aggregate amount of creditors for which security has been given amounted to £524,965. These amounts have been secured against the investment property of the company.
8 Other information
Power British Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 - 9 The Square
Stockley Park
Uxbridge
Middlesex
UB11 3FW
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