0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-05 Sage Accounts Production Advanced 2024 - FRS102_2024 1,107 1,107 277 277 830 xbrli:pure xbrli:shares iso4217:GBP 15328558 2023-12-05 2024-12-31 15328558 2024-12-31 15328558 2023-12-04 15328558 bus:Director1 2023-12-05 2024-12-31 15328558 bus:Director2 2023-12-05 2024-12-31 15328558 core:WithinOneYear 2024-12-31 15328558 core:ShareCapital 2024-12-31 15328558 core:RetainedEarningsAccumulatedLosses 2024-12-31 15328558 bus:SmallEntities 2023-12-05 2024-12-31 15328558 bus:AuditExemptWithAccountantsReport 2023-12-05 2024-12-31 15328558 bus:SmallCompaniesRegimeForAccounts 2023-12-05 2024-12-31 15328558 bus:PrivateLimitedCompanyLtd 2023-12-05 2024-12-31 15328558 bus:FullAccounts 2023-12-05 2024-12-31 15328558 core:ToolsEquipment 2023-12-05 2024-12-31 15328558 core:ToolsEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 15328558
POTENTIA PROJECTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2024
POTENTIA PROJECTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
31 Dec 24
Note
£
£
FIXED ASSETS
Tangible assets
4
830
CURRENT ASSETS
Debtors
5
26,211
Cash at bank and in hand
26,664
--------
52,875
CREDITORS: amounts falling due within one year
6
33,391
--------
NET CURRENT ASSETS
19,484
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
20,314
--------
NET ASSETS
20,314
--------
CAPITAL AND RESERVES
Called up share capital fully paid
2
Profit and loss account
20,312
--------
SHAREHOLDERS FUNDS
20,314
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:
Mr S Smith
Mr J Poulson
Director
Director
Company registration number: 15328558
POTENTIA PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 5 DECEMBER 2023 TO 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
4. TANGIBLE ASSETS
Equipment
£
Cost
At 5 December 2023
–
Additions
1,107
-------
At 31 December 2024
1,107
-------
Depreciation
At 5 December 2023
–
Charge for the period
277
-------
At 31 December 2024
277
-------
Carrying amount
At 31 December 2024
830
-------
5. DEBTORS
31 Dec 24
£
Trade debtors
10,891
Other debtors
15,320
--------
26,211
--------
6. CREDITORS: amounts falling due within one year
31 Dec 24
£
Corporation tax
12,490
Other creditors
20,901
--------
33,391
--------
7. RELATED PARTY TRANSACTIONS
The directors have advanced monies to the company. At 31 December 2024 the amount owed by the company was £ 19,700 .