Powerpoint Northern Limited - Accounts to registrar (filleted) - small 23.1.2
Powerpoint Northern Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2023 |
| for |
| POWERPOINT NORTHERN LIMITED |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Contents of the Financial Statements |
| for the year ended 30 April 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| POWERPOINT NORTHERN LIMITED |
| Company Information |
| for the year ended 30 April 2023 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Kensington House |
| 3 Kensington |
| Bishop Auckland |
| Co. Durham |
| DL14 6HX |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Balance Sheet |
| 30 April 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Balance Sheet - continued |
| 30 April 2023 |
| 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 |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Notes to the Financial Statements |
| for the year ended 30 April 2023 |
| 1. | STATUTORY INFORMATION |
| Powerpoint Northern Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures & Fittings | - |
| Office equipment | - |
| Motor vehicles | - |
| Hire stock | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Notes to the Financial Statements - continued |
| for the year ended 30 April 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Income from operating leases |
| Rentals received under operating leases are credited to the profit and loss account as obtained and are included in Turnover. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Fixtures | Office |
| property | & Fittings | equipment |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2022 |
| Additions |
| Disposals |
| At 30 April 2023 |
| DEPRECIATION |
| At 1 May 2022 |
| Charge for year |
| Eliminated on disposal |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Notes to the Financial Statements - continued |
| for the year ended 30 April 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Hire |
| vehicles | stock | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2023 |
| DEPRECIATION |
| At 1 May 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| Cost or valuation at 30 April 2023 is represented by: |
| Freehold | Fixtures | Office |
| property | & Fittings | equipment |
| £ | £ | £ |
| Valuation in 2021 | 358,218 | - | - |
| Cost | 1,366,782 | 196,576 | 50,764 |
| 1,725,000 | 196,576 | 50,764 |
| Motor | Hire |
| vehicles | stock | Totals |
| £ | £ | £ |
| Valuation in 1998 | - | 42,879 | 42,879 |
| Valuation in 2021 | - | - | 358,218 |
| Cost | 17,242 | 1,054,068 | 2,685,432 |
| 17,242 | 1,096,947 | 3,086,529 |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Notes to the Financial Statements - continued |
| for the year ended 30 April 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold buildings had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 1,366,782 | 1,366,782 |
| Freehold buildings were valued on an open market basis on 1 November 2021 by McBeath Property Consultancy Ltd . |
| The assets previously revalued have continued to be included at the valuation attributed to them on 30 April 1998. The transitional provisions of FRS 15 are being followed and the valuation has not been updated. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 15,272 | 19,963 |
| Other creditors |
| Pensions creditor | 1,605 | 2,459 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Directors loans | 5 | 6,629 |
| POWERPOINT NORTHERN LIMITED (REGISTERED NUMBER: 02872973) |
| Notes to the Financial Statements - continued |
| for the year ended 30 April 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 101,355 | 142,945 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| The bank loan is secured by way of a fixed charge over the freehold property. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 May 2022 |
| Deferred tax on revaluation | (21,493 | ) |
| At 30 April 2023 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| The need to hire plant, vehicles and equipment is dictated by demand from customers, and it is therefore not possible to determine the exact future financial commitment for operating leases. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The company sublets the premises at Thirsk Railway Carlton Minniott, which is rented from the Director Alan Cook. During the year the company paid rent to Mr Cook of £10,920 (2022 - £9,940). The company received rent income of £12,000 (2022 - £12,000), which is shown in Other Income. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A Cook. |
| The director Mr A Cook is personally interested in 100% (2022 - 60%) of the company's issued share capital. |