| Powell 365 UK Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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) and the companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£). |
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Going concern |
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The financial statements have been prepared on a going concern basis, despite the company has net liabilities of £557,821 at the year end. The company is reliant on its parent company for funds to support its working capital. The parent company has pledged continued support for the company for at least 12 months from the date of the approval of these financial statements and in particular will not seek repayment of the amounts currently made available. |
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This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payments. As with any company placing reliance on other related parties for financial support, that there are no certainty that this support will continue although at the date of approval of these financial statements, there is no reason to believe that they will not do so. |
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On this basis, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. |
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Turnover |
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Turnover represents amounts receivable for services sold, net of trade discounts, VAT and other sales and related taxes. |
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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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Tangible fixed assets are fully depreciated as of the reporting date. |
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Financial Instruments |
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Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference share and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. |
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Financial instruments are recognised when the company becomes party to the contract. They are only offset when there is a legally enforceable right to do so. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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Current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Cash and cash equivalents |
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Cash and cash equivalents comprise cash at bank and in hand, short term deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are defined as short term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
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Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Indra Raj Giri ACA, FCCA |
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Firm: |
Makesworth Audit Services Limited |
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Date of audit report: |
9 April 2026 |
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| 3 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company (including director) |
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1 |
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1 |
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| 4 |
Tangible fixed assets |
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Plant and machinery |
| £ |
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Cost |
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At 1 January 2025 |
1,957 |
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At 31 December 2025 |
1,957 |
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Depreciation |
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At 1 January 2025 |
1,957 |
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At 31 December 2025 |
1,957 |
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Net book value |
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At 31 December 2025 |
- |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Amounts owed to group undertakings |
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519,173 |
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529,700 |
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Taxation and social security costs |
4,347 |
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6,230 |
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Other creditors |
71,781 |
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70,619 |
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595,301 |
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606,549 |
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| 6 |
Related party transactions |
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Included within creditors is an amount of £8,535 (2024: £nil) due to its related party, Financiere Powell, and £510,638 (2024: £529,700) due to the company’s immediate parent entity, Powell Software SAS. |
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| 7 |
Controlling party |
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The company is a wholly owned subsidiary of Powell Software SAS, a company registered in France. |
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| 8 |
Other information |
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Powell 365 UK Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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Becket House C/O Ccfgb |
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1 Lambeth Palace Road |
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London |
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SE1 7EU |