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Registration number: 15078152

Powerwise UK 1 Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 17 August 2023 to 31 August 2024

 

Powerwise UK 1 Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Powerwise UK 1 Ltd

Company Information

Director

Mr P Jones

Registered office

Bartle House
9 Oxford Court
Manchester
M2 3WQ

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Powerwise UK 1 Ltd

(Registration number: 15078152)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,544

Current assets

 

Debtors

406

Cash at bank and in hand

 

2,741

 

3,147

Prepayments and accrued income

 

210

Creditors: Amounts falling due within one year

(2,520)

Net current assets

 

837

Total assets less current liabilities

 

2,381

Accruals and deferred income

 

(1,100)

Net assets

 

1,281

Capital and reserves

 

Called up share capital

6

100

Retained earnings

1,181

Shareholders' funds

 

1,281

 

Powerwise UK 1 Ltd

(Registration number: 15078152)
Abridged Balance Sheet as at 31 August 2024

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 March 2025
 

.........................................

Mr P Jones
Director

 

Powerwise UK 1 Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 August 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bartle House
9 Oxford Court
Manchester
M2 3WQ
England

These financial statements were authorised for issue by the director on 3 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Powerwise UK 1 Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 August 2023 to 31 August 2024

Going concern

The financial statements have been prepared on a going concern basis.

Key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period the revision and future periods where the revisions affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Computer Equipment

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Powerwise UK 1 Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 August 2023 to 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Powerwise UK 1 Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 August 2023 to 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Computer Equipment
£

Total
£

Cost or valuation

Additions

1,740

1,740

At 31 August 2024

1,740

1,740

Depreciation

Charge for the period

196

196

At 31 August 2024

196

196

Carrying amount

At 31 August 2024

1,544

1,544

5

Related party transactions

Other transactions with the director

During the period the director made unsecured, interest free and repayable on demand loans to the company. At the balance sheet date the amount owed to the director was £3,368.

6

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary Shares of £1 each

100

100

     

New shares allotted

During the period 100 Ordinary Shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100.