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REGISTERED NUMBER: 02352050 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

PowerX Equip Limited

Previously known as
Powerscreen Washing Systems Limited

PowerX Equip Limited (Registered number: 02352050)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PowerX Equip Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A F Moss
L S Talbot





REGISTERED OFFICE: Site 7 Cornets End Lane
Meriden
Coventry
West Midlands
CV7 7LG





REGISTERED NUMBER: 02352050 (England and Wales)





AUDITORS: Thornton Springer LLP
Chartered Accountants and
Statutory Auditor
67 Westow Street
London
SE19 3RW

PowerX Equip Limited (Registered number: 02352050)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
CURRENT ASSETS
Stocks 273,029 273,028
Debtors 5 2,894,811 2,896,221
Cash at bank 13 14,123
3,167,853 3,183,372
CREDITORS
Amounts falling due within one year 6 (2,440,041 ) (2,452,660 )
NET CURRENT ASSETS 727,812 730,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,812

730,712

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 727,712 730,612
SHAREHOLDERS' FUNDS 727,812 730,712

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





L S Talbot - Director


PowerX Equip Limited (Registered number: 02352050)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

PowerX Equip 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 as modified by the recognition of certain financial assets and liabilities measured at fair value.

Stocks
Stocks are stated at the lower of costs and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern
The financial accounts have been prepared on a going concern basis; the company recognises there is an in-year loss in 23/24 but a healthy 12 month forecast of PowerX group has been reviewed by the directors for 2025. The Management Team continue to be cost efficient by careful consideration of overheads. The Management Team have a scheduled review on a monthly basis and utilise this time to review past performance, refine forecast for upcoming months and to review current projects. The industry the company operates within has been fortunate enough to continue operating in these challenging times due to environmental factors. The directors also believe the company is a going concern as the entity will continue to meet all financial obligations as they fall due. With the increased business within the quarry sector the directors expect both the spares and service demand to increase over the next 12 months.

4. EMPLOYEES AND DIRECTORS

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

PowerX Equip Limited (Registered number: 02352050)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed by group undertakings 1,817,993 1,817,350
Amounts owed by related entities 1,076,818 1,076,818
VAT - 643
Prepayments and accrued income - 1,410
2,894,811 2,896,221

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors - 3,859
Amounts owed to group undertakings 2,232,552 2,239,799
Amount due to related parties 201,490 201,490
Accruals and deferred income 5,999 7,512
2,440,041 2,452,660

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 July 2023 730,612
Deficit for the year (2,900 )
At 30 June 2024 727,712

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zahid Saleem FCCA ACA (Senior Statutory Auditor)
for and on behalf of Thornton Springer LLP

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

PowerX Equip Limited (Registered number: 02352050)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company during the financial year was PowerX Holdings Limited, a company incorporated in England and Wales.

These financial statements have been consolidated in the financial statements of PowerX Holdings Limited. The consolidated financial statements can be obtained from Site 7, Meriden Park, Cornets End lane, Coventry, CV7 7LG.

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.