ACCOUNTS - Final Accounts preparation

POWER INVESTMENTS HOLDINGS LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312021-04-012tbctruefalsetrue2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11342558 2021-04-01 2022-03-31 11342558 2020-04-01 2021-03-31 11342558 2022-03-31 11342558 2021-03-31 11342558 c:Director2 2021-04-01 2022-03-31 11342558 d:CurrentFinancialInstruments 2022-03-31 11342558 d:CurrentFinancialInstruments 2021-03-31 11342558 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11342558 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11342558 d:ShareCapital 2022-03-31 11342558 d:ShareCapital 2021-03-31 11342558 d:SharePremium 2022-03-31 11342558 d:SharePremium 2021-03-31 11342558 d:RetainedEarningsAccumulatedLosses 2022-03-31 11342558 d:RetainedEarningsAccumulatedLosses 2021-03-31 11342558 c:OrdinaryShareClass1 2021-04-01 2022-03-31 11342558 c:OrdinaryShareClass1 2022-03-31 11342558 c:OrdinaryShareClass1 2021-03-31 11342558 c:FRS102 2021-04-01 2022-03-31 11342558 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11342558 c:FullAccounts 2021-04-01 2022-03-31 11342558 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11342558 6 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11342558

POWER INVESTMENTS HOLDINGS LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022


POWER INVESTMENTS HOLDINGS LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


POWER INVESTMENTS HOLDINGS LTD REGISTERED NUMBER:11342558

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Fixed asset investments	4		1,419,618		1,419,618
Current assets
Debtors: amounts falling due within one year	5	561,671		567,433
Bank and cash balances		6,745		77,170
		568,416		644,603
Current Liabilities
Creditors: amounts falling due within one year	6	(1,702,139)		(1,737,102)
Net current liabilities			(1,133,723)		(1,092,499)

Net assets			285,895		327,119

Capital and reserves
Called up share capital	7	88	88
Share premium account		500,134	500,134
Profit and loss account		(214,327)	(173,103)
		285,895	327,119

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 December 2022.

L Khalastchi Keats

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1


POWER INVESTMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

Power Investments Holdings Ltd is a private limited liability company incorporated in England and Wales. Its registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD; its business address is at Whiteladies Park, Prince Albert Drive, Ascot, SL5 8AQ
The principal activity of the company is that of a holding company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Creditors

Short term creditors are measured at the transaction price.

2.6

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties and related parties, loans to related parties and investments.
Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 2


POWER INVESTMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

4.	Fixed asset investments

		Subsidiary under- takings
		£
	Cost
	At 1 April 2021	1,419,618
	At 31 March 2022	1,419,618

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	561,671	566,285
Other debtors	-	1,148
	561,671	567,433

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other loans	1,649,979	1,649,979
Trade creditors	-	30,000
Amounts owed to group undertakings	30,000	30,000
Other creditors	100	99
Accruals and deferred income	22,060	27,024
	1,702,139	1,737,102

7.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

88 (2021 - 88) Ordinary shares of £1.00 each	88	88

Page 3


POWER INVESTMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

8.	Related party transactions
	The company has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other wholly-owned group companies.

Page 4