POISE Group Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04914011 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

POISE GROUP LIMITED

PREVIOUSLY KNOWN AS

POWERSYS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R Agrawal

Mr P S Hari

REGISTERED OFFICE:

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

BUSINESS ADDRESS:

Fleet House

8-12 New Bridge Street

London

London

EC4V 6AL

REGISTERED NUMBER:

04914011 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Statement of Financial Position. Readers are cautioned

that the Statement of Comprehensive Income and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of POISE Group Limited for the year ended 30 September 2017 which

comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related

notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of POISE Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of POISE Group Limited and state those matters that we have agreed to state to the Board of Directors of POISE Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than POISE Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that POISE Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of POISE Group Limited. You consider that POISE Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of POISE Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

22 June 2018

FIXED ASSETS

Tangible assets

4

16,140

41,715

Investments

5

922,028

912,028

938,168

953,743

CURRENT ASSETS

Stocks

6

165,000

7,430

Debtors

7

442,638

1,156,419

Prepayments and accrued income

1,111

4,532

Cash at bank and in hand

1,003,258

771,516

1,612,007

1,939,897

CREDITORS

Amounts falling due within one year

8

226,109

526,391

NET CURRENT ASSETS

1,385,898

1,413,506

TOTAL ASSETS LESS CURRENT LIABILITIES

2,324,066

2,367,249

CREDITORS

Amounts falling due after more than one year

9

(600,000

)

(600,000

)

PROVISIONS FOR LIABILITIES

(65,978

)

(72,464

)

NET ASSETS

1,658,088

1,694,785

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,657,988

1,694,685

SHAREHOLDERS' FUNDS

1,658,088

1,694,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 22 June 2018 and were signed on its behalf by:

Mr R Agrawal - Director

Mr P S Hari - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

Fixed asset investment

Investments held as fixed assets are stated at cost, together with subsequent capital contributions,

less any provisions for impairment in value.

Investment income is recognised in the financial statements when the company becomes entitled to

its share of profits from the fixed asset investment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2016

14,702

25,000

14,506

54,208

Additions

2,532

-

2,464

4,996

Disposals

-

(25,000

)

-

(25,000

)

At 30 September 2017

17,234

-

16,970

34,204

DEPRECIATION

At 1 October 2016

4,952

-

7,541

12,493

Charge for year

2,582

5,960

2,989

11,531

Eliminated on disposal

-

(5,960

)

-

(5,960

)

At 30 September 2017

7,534

-

10,530

18,064

NET BOOK VALUE

At 30 September 2017

9,700

-

6,440

16,140

At 30 September 2016

9,750

25,000

6,965

41,715

5.	FIXED ASSET INVESTMENTS

Unlisted investments£

COST

At 1 October 2016

1,673,000

Additions

10,000

At 30 September 2017

1,683,000

PROVISIONS

At 1 October 2016

760,972

At 30 September 2017

760,972

NET BOOK VALUE

At 30 September 2017

922,028

At 30 September 2016

912,028

6.

STOCKS

2017

2016

£

£

Work-in-progress

165,000

7,430

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

429,115

1,078,276

Other debtors

11,646

19,150

Tax

-

58,993

VAT

1,877

-

442,638

1,156,419

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

51,287

81,248

Tax

-

56,218

VAT

-

180,485

Directors loan accounts

169,684

205,312

Accrued expenses

5,138

3,128

226,109

526,391

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Directors loan accounts

600,000

600,000

10.	CONTINGENT LIABILITIES

The company is a member of L.R. R&D LLP and is liable to contribute to the assets of the LLP in the

event of a winding up before 1st July 2020. The maximum liability in relation to this undertaking is

£681,919.

The company does not believe that a winding-up of the LLP is probable and has not made provision

for the liability at 30th September 2017.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the 30th September 2017, the Company owed Mr R Agrawal £381,934. (2016 : £401,073 ) and

Mr P S Hari £387,750. (2016 : £404,239).

No interest have been charged on these loans.

Of the amount owing to the directors, £169,684 is falling due within one year and £600,000, is falling

due after more than one year.