Silverfin true 30/05/2024 31/05/2023 30/05/2024 L D N Jones 17/03/2011 T A Jones 17/03/2011 18 February 2025 OC362868 2024-05-30 OC362868 bus:Director1 2024-05-30 OC362868 bus:Director2 2024-05-30 OC362868 core:CurrentFinancialInstruments 2024-05-30 OC362868 core:CurrentFinancialInstruments 2023-05-30 OC362868 2023-05-30 OC362868 core:Non-currentFinancialInstruments 2024-05-30 OC362868 core:Non-currentFinancialInstruments 2023-05-30 OC362868 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-05-30 OC362868 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-05-30 OC362868 2023-05-31 2024-05-30 OC362868 bus:FullAccounts 2023-05-31 2024-05-30 OC362868 bus:SmallEntities 2023-05-31 2024-05-30 OC362868 bus:AuditExemptWithAccountantsReport 2023-05-31 2024-05-30 OC362868 bus:LimitedLiabilityPartnershipLLP 2023-05-31 2024-05-30 OC362868 bus:Director1 2023-05-31 2024-05-30 OC362868 bus:Director2 2023-05-31 2024-05-30 OC362868 2022-05-31 2023-05-30 OC362868 core:Non-currentFinancialInstruments 2023-05-31 2024-05-30 iso4217:GBP xbrli:pure

Company No: OC362868 (England and Wales)

POWDERTEC SOLUTIONS LLP

Unaudited Financial Statements
For the financial year ended 30 May 2024
Pages for filing with the registrar

POWDERTEC SOLUTIONS LLP

Unaudited Financial Statements

For the financial year ended 30 May 2024

Contents

POWDERTEC SOLUTIONS LLP

BALANCE SHEET

As at 30 May 2024
POWDERTEC SOLUTIONS LLP

BALANCE SHEET (continued)

As at 30 May 2024
Note 2024 2023
£ £
Current assets
Debtors 3 12,126 12,126
Cash at bank and in hand 3,639 3,639
15,765 15,765
Creditors: amounts falling due within one year 4 ( 189,980) ( 189,980)
Net current liabilities (174,215) (174,215)
Total assets less current liabilities (174,215) (174,215)
Creditors: amounts falling due after more than one year 5 ( 20,833) ( 20,833)
Net liabilities attributable to members ( 195,048) ( 195,048)
Represented by
Members' other interests
Other reserves (195,048) (195,048)
(195,048) (195,048)
(195,048) (195,048)
Total members' interests
Members' other interests (195,048) (195,048)
(195,048) (195,048)

Powdertec Solutions LLP (registered number: OC362868) did not trade during the current financial year and has made neither profit nor loss, nor any other comprehensive income. For the financial year ending 30 May 2024 the LLP was entitled to exemption from audit under section 480 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Powdertec Solutions LLP (registered number: OC362868) were approved and authorised for issue by the Board of Directors on 18 February 2025. They were signed on its behalf by:

L D N Jones
Designated member
POWDERTEC SOLUTIONS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 May 2024
POWDERTEC SOLUTIONS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Powdertec Solutions LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Unit 16c & 16f, Chalwyn Industrial Estate, St Clements Road, Poole, Dorset, BH12 4PE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis despite the balance sheet showing a deficit of current assets against current liabilities, due to the ongoing support of the members.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Dormant Accounts

Powdertec Solutions LLP (registered number: OC362868) did not trade during the current financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current financial year and therefore no Statement of Changes of Equity has been included.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Debtors

2024 2023
£ £
Trade debtors 4,148 4,148
Amounts owed by related parties 7,380 7,380
Other debtors 598 598
12,126 12,126

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 15,765 15,765
Trade creditors 10,242 10,242
Amounts owed to related parties 162,064 162,064
Other creditors 1,909 1,909
189,980 189,980

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 20,833 20,833

There are no amounts included above in respect of which any security has been given by the small entity.

6. Ultimate controlling party

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.