Powered Licence Training Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05482180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

POWERED LICENCE TRAINING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J J Quirke

REGISTERED OFFICE:

North Lodge

Hawkesyard

Armitage Lane

Rugeley

Staffordshire

WS15 1PS

REGISTERED NUMBER:

05482180 (England and Wales)

ACCOUNTANT:

Richards Associates Limited

Chartered Accountants

North Lodge

Hawkesyard

Armitage Lane

Rugeley

Staffordshire

WS15 1PS

FIXED ASSETS

Tangible assets

4

2,033

1,618

CURRENT ASSETS

Debtors

15,499

13,179

Cash at bank

2,043

6,505

17,542

19,684

CREDITORS

Amounts falling due within one year

19,188

21,000

NET CURRENT LIABILITIES

(1,646

)

(1,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

387

302

PROVISIONS FOR LIABILITIES

5

386

301

NET ASSETS

1

1

CAPITAL AND RESERVES

Called up share capital

6

1

1

SHAREHOLDERS' FUNDS

1

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 July 2020 and were signed by:

J J Quirke - Director

1.	STATUTORY INFORMATION

Powered Licence Training Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on reducing balance

Computer Equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2019

7,993

Additions

1,083

At 31 January 2020

9,076

DEPRECIATION

At 1 February 2019

6,375

Charge for year

668

At 31 January 2020

7,043

NET BOOK VALUE

At 31 January 2020

2,033

At 31 January 2019

1,618

5.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax

386

301

Deferred

tax

£

Balance at 1 February 2019

301

Provided during year

85

Balance at 31 January 2020

386

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

1

Ordinary

1

1

1

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2020 and

31 January 2019:

31.1.20

31.1.19

£

£

J J Quirke

Balance outstanding at start of year

1,453

4,767

Amounts advanced

25,161

19,066

Amounts repaid

(25,033

)

(22,380

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,581

1,453

The full amount of this loan was repaid within nine months of the year end.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J J Quirke.

9.	WORKING CAPITAL DEFICIT

Current liabilities exceed current assets, however, the company is able to meet its liabilities as they fall due.