Power Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02084595 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

POWER PROPERTY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Baggs

SECRETARY:

Mrs A R Baggs

REGISTERED OFFICE:

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

REGISTERED NUMBER:

02084595 (England and Wales)

ACCOUNTANTS:

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

FIXED ASSETS

Tangible assets

4

3,738

4,687

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

5

36,833

38,392

Cash at bank

1,105

-

40,438

40,892

CREDITORS

Amounts falling due within one year

6

42,726

58,541

NET CURRENT LIABILITIES

(2,288

)

(17,649

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,450

(12,962

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,350

(13,062

)

SHAREHOLDERS' FUNDS

1,450

(12,962

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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.

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 on 31 January 2020 and were signed by:

D Baggs - Director

1.	STATUTORY INFORMATION

Power Property Services 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 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.

Plant and machinery etc

-

20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 4 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2018

34,237

Additions

713

At 30 April 2019

34,950

DEPRECIATION

At 1 May 2018

29,550

Charge for year

1,662

At 30 April 2019

31,212

NET BOOK VALUE

At 30 April 2019

3,738

At 30 April 2018

4,687

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

25,860

22,133

Other debtors

10,973

16,259

36,833

38,392

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

21,016

Trade creditors

245

3,263

Taxation and social security

31,707

24,526

Other creditors

10,774

9,736

42,726

58,541

7.	ADVANCES AND CREDITS WITH DIRECTORS

As at the balance sheet date the director owed the company £4,869 (2018: £10,155).