Fred R Powell & Son Ltd - Period Ending 2019-12-31

Fred R Powell & Son Ltd

Profit and Loss Account for the Year Ended 31 December 2019

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Fred R Powell & Son Ltd

(Registration number: 00375606)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Current assets
Debtors	4	280,556	280,556
Capital and reserves
Called up share capital		16,000	16,000
Profit and loss account		264,556	264,556
Shareholders' funds		280,556	280,556

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 8 December 2020
 

.........................................

R H J Ellis
Director

Fred R Powell & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kemys Way
Swansea Enterprise Park
Swansea
SA6 8QF

These financial statements were authorised for issue by the director on 8 December 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

Fred R Powell & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

4

Debtors

	Note	2019 £	2018 £
Amounts owed by related parties		280,556	280,556
		280,556	280,556