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Registered Number: 06768623
England and Wales

 

 

 

RELEASE POTENTIAL LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 187,977    137,092 
Investments 4 152,994    152,994 
340,971    290,086 
Current assets      
Debtors 5 154,070    121,159 
Cash at bank and in hand 1,048,229    858,770 
1,202,299    979,929 
Creditors: amount falling due within one year 6 (195,340)   (192,984)
Net current assets 1,006,959    786,945 
 
Total assets less current liabilities 1,347,930    1,077,031 
Creditors: amount falling due after more than one year 7 (5,219)   (34,486)
Provisions for liabilities 8 (3,031)   (3,031)
Net assets 1,339,680    1,039,514 
 

Capital and reserves 		     
Called up share capital 1,000    1,000 
Profit and loss account 1,338,680    1,038,514 
Shareholders' funds 1,339,680    1,039,514 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 17 September 2025 and were signed on its behalf by:


-------------------------------
J H Hutchinson
Director
1
General Information
Release Potential Ltd is a private company, limited by shares, registered in England and Wales, registration number 06768623, registration address The Bridges, Lead Road, Stocksfield, Northumberland, NE43 7SF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, 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. 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 fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Plant and Machinery 10% Straight Line
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 29 (2023 : 30).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2024 40,301    99,266    87,504    92,317    319,388 
Additions -    52,744    4,762    33,837    91,343 
Disposals -    -    -    -    - 
At 31 December 2024 40,301    152,010    92,266    126,154    410,731 
Depreciation
At 01 January 2024 8,634    25,886    68,259    79,517    182,296 
Charge for year 4,030    26,139    3,865    6,424    40,458 
On disposals -    -    -    -    - 
At 31 December 2024 12,664    52,025    72,124    85,941    222,754 
Net book values
Closing balance as at 31 December 2024 27,637    99,985    20,142    40,213    187,977 
Opening balance as at 01 January 2024 31,667    73,380    19,245    12,800    137,092 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 152,994    152,994 
Additions -    - 
Transfer to/from tangible fixed assets 0    0 
Disposals -    - 
At 31 December 2024 152,994    152,994 

5.

Debtors: amounts falling due within one year

2024
£		   2023
£
Trade Debtors 108,946    79,960 
Prepayments & Accrued Income 45,124    41,199 
154,070    121,159 

6.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 15,075    9,717 
Corporation Tax 97,672    95,348 
PAYE & Social Security 61,675    60,233 
Accrued Expenses 18,541    17,039 
Obligations under HP/Financial Leases 0    8,588 
VAT 2,377    2,059 
195,340    192,984 

7.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Obligations Under HP/Financial Leases 0    34,066 
Directors' Loan Accounts 5,219    420 
5,219    34,486 

8.

Provisions for liabilities

2024
£		   2023
£
Deferred Tax 3,031    3,031 
3,031    3,031 

9.

Directors advances, credits and guarantees

Included in creditors are amounts owed to Directors from the Company of £5,219 (2024 - £420).
2