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Registration number: 06949396

Powerlink Enterprises Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Powerlink Enterprises Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Powerlink Enterprises Ltd

(Registration number: 06949396)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

313,716

364,639

Current assets

 

Stocks

6

4,105

4,793

Debtors

7

198,388

136,451

Cash at bank and in hand

 

108,192

6,894

 

310,685

148,138

Creditors: Amounts falling due within one year

8

(197,472)

(121,932)

Net current assets

 

113,213

26,206

Total assets less current liabilities

 

426,929

390,845

Provisions for liabilities

(62,501)

(75,083)

Net assets

 

364,428

315,762

Capital and reserves

 

Called up share capital

100

100

Retained earnings

364,328

315,662

Shareholders' funds

 

364,428

315,762

 

Powerlink Enterprises Ltd

(Registration number: 06949396)
Statement of Financial Position as at 31 December 2024

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

Directors' responsibilities:

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

The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

.........................................
Mr R Wedgwood
Director

.........................................
Mr N Ratcliffe
Director

 
     
 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 2
Dakota South
Salford
M50 2PU

These financial statements were authorised for issue by the Board on 15 May 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 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 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.

Going concern

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

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 sales/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.

Government grants

Government grants are include in the profit and loss account on the accruals basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicle

25% reducing balance

Plant and machinery

15% and 25% reducing balance

Leasehold buildings

5% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

5 to 10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Intangible assets

Franchise fee
 £

Total
£

Cost or valuation

At 1 January 2024

17,500

17,500

At 31 December 2024

17,500

17,500

Amortisation

At 1 January 2024

17,500

17,500

At 31 December 2024

17,500

17,500

Carrying amount

At 31 December 2024

-

-

 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

82,670

81,139

261,199

80,317

198,234

703,559

Additions

-

5,513

-

11,727

-

17,240

At 31 December 2024

82,670

86,652

261,199

92,044

198,234

720,799

Depreciation

At 1 January 2024

18,323

54,005

171,421

56,703

38,468

338,920

Charge for the year

4,133

4,208

13,465

6,415

39,942

68,163

At 31 December 2024

22,456

58,213

184,886

63,118

78,410

407,083

Carrying amount

At 31 December 2024

60,214

28,439

76,313

28,926

119,824

313,716

At 31 December 2023

64,347

27,134

89,778

23,614

159,766

364,639

 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Other inventories

4,105

4,793

7

Debtors

Current

2024
£

2023
£

Trade debtors

196,275

134,461

Prepayments

2,113

1,990

 

198,388

136,451

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

51,618

35,816

Taxation and social security

98,799

48,911

Accruals and deferred income

43,449

29,599

Other creditors

3,606

7,606

197,472

121,932

 

Powerlink Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £180,313 (2023 - £209,163).