POWERBET LIMITED


Directors	HALHEAD, Keith
	POWER, Martin David


Registered Address	First Floor East Bridge Mills
	Stramongate
	Kendal
	LA9 4UB


Registered Number	06849960 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		57,160		2,708
Tangible assets	4		88		299
			57,248		3,007
Current assets
Debtors	5	7,866		7,866
Cash at bank and on hand		1,506		1,634
		9,372		9,500
Creditors amounts falling due within one year	6	(162,491)		(133,233)
Net current assets (liabilities)			(153,119)		(123,733)
Total assets less current liabilities			(95,871)		(120,726)
Net assets			(95,871)		(120,726)
Capital and reserves
Called up share capital			2		2
Revaluation reserve			55,206		-
Profit and loss account			(151,079)		(120,728)
Shareholders' funds	7		(95,871)		(120,726)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 October 2025, and are signed on its behalf by:

HALHEAD, Keith
Director

POWER, Martin David
Director

Registered Company No. 06849960

POWERBET LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	15

	Trade and other 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.

Trade and other 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.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	82,337	82,337
Revaluations	55,206	55,206
At 31 March 25	137,543	137,543
Amortisation and impairment
At 01 April 24	79,629	79,629
Charge for year	754	754
At 31 March 25	80,383	80,383
Net book value
At 31 March 25	57,160	57,160
At 31 March 24	2,708	2,708

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 24	13,115	13,115
At 31 March 25	13,115	13,115
Depreciation and impairment
At 01 April 24	12,816	12,816
Charge for year	211	211
At 31 March 25	13,027	13,027
Net book value
At 31 March 25	88	88
At 31 March 24	299	299

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by associates and joint ventures / participating interests	7,866	7,866
Total	7,866	7,866

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Amounts owed to related parties	159,942	131,436
Accrued liabilities and deferred income	2,549	1,797
Total	162,491	133,233

7.	Revaluation reserve
	Revaluation of pitches based on auction gross values as at 31 March 2025.


		£
	Revaluations of other assets	55,206
	At 31 March 25	55,206