Company Registration No. 13197152 (England and Wales)
Potens Property Limited
Unaudited accounts
for the year ended 28 February 2025
Potens Property Limited
Unaudited accounts
Contents
Potens Property Limited
Company Information
for the year ended 28 February 2025
Directors
Mitchell Foley
Tracey Bateman
Company Number
13197152 (England and Wales)
Accountants
SJ Mellish Accountancy Services Ltd
Office 13 Imex Centre
577 - 599 Maxted Road
Hemel Hempstead
HP2 7DX
Potens Property Limited
Statement of financial position
as at 28 February 2025
Tangible assets
2,394
3,216
Investment property
300,000
300,000
Cash at bank and in hand
748
7,890
Creditors: amounts falling due within one year
(6,039)
(1,233)
Net current assets
117,947
158,814
Total assets less current liabilities
420,341
462,030
Creditors: amounts falling due after more than one year
(387,277)
(447,483)
Called up share capital
(101)
(101)
Profit and loss account
33,165
14,648
Shareholders' funds
33,064
14,547
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by
Mitchell Foley
Director
Company Registration No. 13197152
Potens Property Limited
Notes to the Accounts
for the year ended 28 February 2025
Potens Property Limited is a private company, limited by shares, registered in England and Wales, registration number 13197152.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2024
3,359
1,000
4,359
At 28 February 2025
3,359
1,000
4,359
At 1 March 2024
565
578
1,143
Charge for the year
672
150
822
At 28 February 2025
1,237
728
1,965
At 28 February 2025
2,122
272
2,394
At 28 February 2024
2,794
422
3,216
Fair value at 1 March 2024
300,000
At 28 February 2025
300,000
Potens Property Limited
Notes to the Accounts
for the year ended 28 February 2025
Amounts falling due within one year
Amounts due from group undertakings etc.
123,238
151,838
Amounts falling due after more than one year
Accrued income and prepayments
-
294
7
Creditors: amounts falling due within one year
2025
2024
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
138,167
165,000
Taxes and social security
3,051
12,141
Loans from directors
246,059
270,342
9
Transactions with related parties
Included in the creditors is a loan from the directors. The balance at the year end was £246,059. This loan is unsecured, interest free and is repayable on demand
Included within the debtors is the loan balance of £123,238 from TKC Acquisitions Ltd, a company that is controlled by one of the directors. The Loan is unsecured, interest free and repayable on demand
The company's ultimate controlling party is Mr Mitchell Foley by virtue of his ownership of 60% of the issued share capital in the company
11
Average number of employees
During the year the average number of employees was 0 (2024: 0).