Company registration number 09982582 (England and Wales)
POAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
POAN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
POAN LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
9,671
17,953
Tangible assets
4
10,625
18,827
Current assets
Stocks
428,269
517,288
Debtors
5
66,371
86,739
Cash at bank and in hand
1,317
13,286
495,957
617,313
Creditors: amounts falling due within one year
6
(372,716)
(3,934,658)
Net current assets/(liabilities)
123,241
(3,317,345)
Total assets less current liabilities
143,537
(3,280,565)
Creditors: amounts falling due after more than one year
7
(1,500)
(7,501)
Net assets/(liabilities)
142,037
(3,288,066)
Capital and reserves
Called up share capital
8
2,051,921
542
Share premium account
1,259,758
1,259,758
Profit and loss reserves
(3,169,642)
(4,548,366)
Total equity
142,037
(3,288,066)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

POAN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 January 2026 and are signed on its behalf by:
G Weissacher
Director
Company Registration No. 09982582
POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

POAN Limited is a private company limited by shares incorporated in England and Wales. The registered office is 37 Soho Square, London, England, W1D 3QZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements. T he validity of this assumption is on the basis that the company will continued to be supported by its shareholders.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets other than goodwill

Development expenditure is capitalised to the extent that the technical and financial feasibility can be demonstrated.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development
Over 5 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
20% Reducing balance
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to expenses on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Intangible fixed assets
Website development
£
Cost
At 1 March 2024 and 28 February 2025
81,272
Amortisation and impairment
At 1 March 2024
63,319
Amortisation charged for the year
8,282
At 28 February 2025
71,601
Carrying amount
At 28 February 2025
9,671
At 29 February 2024
17,953
POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
4
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 March 2024
50,267
Disposals
(14,625)
At 28 February 2025
35,642
Depreciation and impairment
At 1 March 2024
31,440
Depreciation charged in the year
3,764
Eliminated in respect of disposals
(10,187)
At 28 February 2025
25,017
Carrying amount
At 28 February 2025
10,625
At 29 February 2024
18,827
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,297
2,254
Other debtors
62,074
84,485
66,371
86,739

Included within other debtors is an amount of £39,986 (20 24: £49,631) due from the director of the company, which is repayable on demand.

POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,000
6,000
Trade creditors
78,866
61,587
Corporation tax
-
0
108
Other taxation and social security
15,813
4,594
Other creditors
7,714
3,655,800
Accruals
264,323
206,569
372,716
3,934,658

Included in other creditors is £Nil (202 4: £3,655,000) due to shareholders of the company. The loans are interest free and payable on demand.

During the year, a shareholder loan of £1,813,500 was waived by a shareholder and credited to profit and loss reserves. In addition, a shareholder loan of £2,051,500 was converted into Ordinary A shares.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
1,500
7,501

The Bounce Back Loan Scheme is unsecured and 100% guaranteed by the government. The bank loan interest rate is 2.50% per annum.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
42,100
54,218
421
542
Ordinary A shares of £1 each
2,051,500
30,000
2,051,500
-
2,093,600
84,218
2,051,921
542

On 30 July 2024, the company cancelled 12,109 ordinary shares by way of a capital reduction.

On 13 August 2024, the company issued 2,051,500 Ordinary A shares of £1 each following the conversion of a shareholder loan of £2,051,500.

The Ordinary A shares do not hold any voting rights. The Ordinary A shares are not entitled to receive any dividend unless the profits available for distribution exceed £10,000,000.

POAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
-
0
32,933
2025-02-28 2024-03-01 false false false 16 January 2026 CCH Software CCH Accounts Production 2024.310 No description of principal activity G Weissacher 09982582 2024-03-01 2025-02-28 09982582 2025-02-28 09982582 2024-02-29 09982582 core:IntangibleAssetsOtherThanGoodwill 2025-02-28 09982582 core:IntangibleAssetsOtherThanGoodwill 2024-02-29 09982582 core:OtherPropertyPlantEquipment 2025-02-28 09982582 core:OtherPropertyPlantEquipment 2024-02-29 09982582 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 09982582 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09982582 core:CurrentFinancialInstruments 2025-02-28 09982582 core:CurrentFinancialInstruments 2024-02-29 09982582 core:Non-currentFinancialInstruments 2025-02-28 09982582 core:Non-currentFinancialInstruments 2024-02-29 09982582 core:ShareCapital 2025-02-28 09982582 core:ShareCapital 2024-02-29 09982582 core:SharePremium 2025-02-28 09982582 core:SharePremium 2024-02-29 09982582 core:RetainedEarningsAccumulatedLosses 2025-02-28 09982582 core:RetainedEarningsAccumulatedLosses 2024-02-29 09982582 core:ShareCapitalOrdinaryShares 2025-02-28 09982582 core:ShareCapitalOrdinaryShares 2024-02-29 09982582 bus:Director1 2024-03-01 2025-02-28 09982582 core:IntangibleAssetsOtherThanGoodwill 2024-03-01 2025-02-28 09982582 core:FurnitureFittings 2024-03-01 2025-02-28 09982582 2023-03-01 2024-02-29 09982582 core:IntangibleAssetsOtherThanGoodwill 2024-02-29 09982582 core:OtherPropertyPlantEquipment 2024-02-29 09982582 core:OtherPropertyPlantEquipment 2024-03-01 2025-02-28 09982582 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 09982582 bus:FRS102 2024-03-01 2025-02-28 09982582 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 09982582 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 09982582 bus:FullAccounts 2024-03-01 2025-02-28 xbrli:pure xbrli:shares iso4217:GBP