Abbreviated Company Accounts - POWER RECORDS LIMITED

POWER RECORDS LIMITED - Company Information

02013179 POWER RECORDS LIMITED 2014-09-30 false 2013-10-01 2014-09-30 true 02013179 2013-10-01 2014-09-30 02013179 2014-09-30 02013179 2013-09-30 02013179 uk-gaap-cd-bus:Director1 2013-10-01 2014-09-30 02013179 uk-gaap-cd-bus:Director2 2013-10-01 2014-09-30 uk-gaap-cd-bus:Director3 2013-10-01 2014-09-30 uk-gaap-cd-bus:Director3 2014-09-30 uk-gaap-cd-bus:Director3 2013-09-30 uk-gaap-cd-bus:Director4 2013-10-01 2014-09-30 uk-gaap-cd-bus:Director4 2014-09-30 uk-gaap-cd-bus:Director4 2013-09-30 uk-gaap-cd-bus:Director5 2013-10-01 2014-09-30 uk-gaap-cd-bus:Director5 2014-09-30 uk-gaap-cd-bus:Director5 2013-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-01 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-30 iso4217:GBP shares

Registered Number 02013179

POWER RECORDS LIMITED

Abbreviated Accounts

30 September 2014

POWER RECORDS LIMITED Registered Number 02013179

Abbreviated Balance Sheet as at 30 September 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,011	2,022
		1,011	2,022
Current assets
Debtors		200	249
Cash at bank and in hand		209	89
		409	338
Creditors: amounts falling due within one year		(153,066)	(138,436)
Net current assets (liabilities)		(152,657)	(138,098)
Total assets less current liabilities		(151,646)	(136,076)
Total net assets (liabilities)		(151,646)	(136,076)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(151,746)	(136,176)
Shareholders' funds		(151,646)	(136,076)

For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 by the Board on 30 June 2015

And signed on their behalf by:
B L EVANS, Director

POWER RECORDS LIMITED Registered Number 02013179

Notes to the Abbreviated Accounts for the period ended 30 September 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following rates in order to write off the assets over their estimated useful lives:

Plant and machinery 50% on the reduced balance basis

Other accounting policies
Going concern
The company made a loss of £15,570 (2013: £15,998 during the year, and as at 30 September 2014 its net liabilities exceeded its net assets by £151,646 (2013: £136,076).

The company meets its day to day working capital requirements through interest free loans provided by the directors of the company (see note 8). The directors have confirmed that these loans will continue to be made available to the company until such time as it is able to repay them. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

2Tangible fixed assets

	£
Cost
At 1 October 2013	82,885
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2014	82,885
Depreciation
At 1 October 2013	80,863
Charge for the year	1,011
On disposals	-
At 30 September 2014	81,874
Net book values
At 30 September 2014	1,011
At 30 September 2013	2,022

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	D Evans
Description of the transaction:	Monies owed to director from the company
Balance at 1 October 2013:	£ 18,482
Advances or credits made:	-
Advances or credits repaid:	£ 801
Balance at 30 September 2014:	£ 17,681

Name of director receiving advance or credit:	B L Evans
Description of the transaction:	Monies owed to director from the company
Balance at 1 October 2013:	£ 108,465
Advances or credits made:	£ 15,431
Advances or credits repaid:	-
Balance at 30 September 2014:	£ 123,896

Name of director receiving advance or credit:	P Evans
Description of the transaction:	Monies owed to director from the company
Balance at 1 October 2013:	£ 10,489
Advances or credits made:	-
Advances or credits repaid:	-
Balance at 30 September 2014:	£ 10,489