Powered Licence Training Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05482180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

POWERED LICENCE TRAINING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Quirke

Ms K R Pittwood

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,

Armitage Lane

Rugeley

Staffordshire

WS15 1PS

FIXED ASSETS

Tangible assets

4

1,089

639

CURRENT ASSETS

Debtors

20,193

17,528

Cash at bank

8,720

13,972

28,913

31,500

CREDITORS

Amounts falling due within one year

17,443

18,055

NET CURRENT ASSETS

11,470

13,445

TOTAL ASSETS LESS CURRENT LIABILITIES

12,559

14,084

PROVISIONS FOR LIABILITIES

121

121

NET ASSETS

12,438

13,963

CAPITAL AND RESERVES

Called up share capital

5

1

1

Retained earnings

12,437

13,962

SHAREHOLDERS' FUNDS

12,438

13,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 2023 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 Board of Directors and authorised for issue on 12 July 2023 and were signed on its behalf 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

Financial instruments

The Company only 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, and loans to related parties.

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.

Going concern

At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The director continues to adopt the going concern basis of accounting in preparing financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2022

9,076

Additions

1,556

At 31 January 2023

10,632

DEPRECIATION

At 1 February 2022

8,437

Charge for year

1,106

At 31 January 2023

9,543

NET BOOK VALUE

At 31 January 2023

1,089

At 31 January 2022

639

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

1

Ordinary

1

1

1

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23

31.1.22

£

£

J J Quirke

Balance outstanding at start of year

(404

)

(5,580

)

Amounts advanced

22,346

57,419

Amounts repaid

(26,649

)

(52,243

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,707

)

(404

)

This loan was repaid within nine months of the year end.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is J J Quirke.