| V12 Power Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going Concern |
|
The company has received assurances from its director and group companies that continued financial support will be available. The director believes that the going concern basis is applicable in preparing these accounts. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Directors Remuneration |
|
|
The director who served during the year was not remunerated by the Company. |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
54,319 |
|
54,681 |
|
Other debtors |
135,000 |
|
135,000 |
|
|
|
|
|
|
189,319 |
|
189,681 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
Bank overdraft |
30 |
|
30 |
|
|
|
|
|
|
30 |
|
30 |
|
|
|
|
|
|
|
|
|
| 6 |
Share Capital |
Authorised |
Allotted |
| £ |
£ |
|
The authorised and allotted share capital at 31 December 2024 and 31 December 2023 was: |
|
Equity shares |
|
Ordinary shares of £1 each |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Reserves |
Profit and loss account |
| £ |
|
|
As of 1 January 2024 |
|
|
|
189,650 |
|
Retained loss for the financial year |
|
|
|
(362) |
|
As at 31 December 2024 |
189,288 |
|
|
|
|
|
|
|
|
|
| 8 |
Taxation |
|
No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2024 nor for the year ended 31 Deccember 2023. |
|
| 9 |
Related Party Disclosure |
2024 |
|
2023 |
| £ |
£ |
|
Other Debtors |
|
3 Cube Real Estate Limited |
|
|
|
|
135,000 |
|
135,000 |
|
Kahn Landmark Limited |
|
|
|
|
54,319 |
|
54,681 |
|
|
|
|
|
|
189,319 |
|
189,681 |
|
V12 Power Limited is a 100% subsidiary of Kahn Landmark Limited |
|
|
|
|
|
|
Mr A Kahn is a director of each company and a beneficial owner of 100% of the issued share capital of 3 Cube Real Estate Limited. |
|
| 10 |
Ultimate Controlling Party |
|
|
The ultimate parent company is Kahn Landmark Limited , a company registered in England and Wales. Kahn Landmark Limited owns 100% of the issued share capital of V12 Power Limited (2023: 100%). |
|
| 11 |
Other information |
|
|
V12 Power Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
240 Canal Road |
|
Bradford |
|
BD1 4SX |