Pow Limited 28/02/2021 iXBRL
Pow Limited 28/02/2021 iXBRL
Company registration number:
01479534
POW LIMITED
DIRECTORS AND OTHER INFORMATION
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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47 Boutport Street | ||
Barnstaple | ||
Devon | ||
EX31 1SQ | ||
POW LIMITED
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 8 |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 November 2021
, and are signed on behalf of the board by:
Director
Company registration number:
01479534
POW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 47 Boutport Street, Barnstaple, Devon, EX31 1SQ.
Principal activity
The principal activity of the company is provision of transport services.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Judgements and key sources of estimation uncertainty
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
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Impairment
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Government grants
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2020:
3
).
5.
Tangible assets
Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 29 February 2020 |
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Additions |
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Disposals |
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At 28 February 2021 |
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Depreciation | |||
At 29 February 2020 |
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Charge for the year |
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Disposals |
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At 28 February 2021 |
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Carrying amount | |||
At 28 February 2021 |
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At 28 February 2020 |
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6.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Other debtors | - |
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7.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Trade creditors |
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Accruals and deferred income |
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Social security and other taxes | 295 | 2,816 | ||
Other creditors | 14,133 | 8,130 | ||
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8.
Reserves
9.
Events after the end of the reporting period
10.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2021 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
Directors |
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2020 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
Directors |
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11.
Related party transactions
12.
Government grants
During the year the company was the recipient of ecomonic benefits as a result of the Small Business Grant Fund. The total funds received from the UK Government and recognised in other operating profit during the year was £10,000.
13.
Coronavirus Job Retention Scheme
During the year the company was the recipient of economic benefits as a result of participating in the UK Government's Coronavirus Job Retention Scheme. The total funds recognised on an accruals basis from the UK Government during the year was £18,257.