Powell System Engineering Limited - Accounts to registrar (filleted) - small 22.3
Powell System Engineering Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
Powell System Engineering Limited |
Powell System Engineering Limited (Registered number: 02800445) |
Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Powell System Engineering Limited |
Company Information |
for the Year Ended 30 April 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
237 Westcombe Hill |
Blackheath |
London |
SE3 7DW |
Powell System Engineering Limited (Registered number: 02800445) |
Abridged Statement of Financial Position |
30 April 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
NET ASSETS |
Powell System Engineering Limited (Registered number: 02800445) |
Abridged Statement of Financial Position - continued |
30 April 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
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 and authorised for issue on |
Powell System Engineering Limited (Registered number: 02800445) |
Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
1. | STATUTORY INFORMATION |
Powell System Engineering Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 Statement of Income and Retained Earnings, 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. |
Powell System Engineering Limited (Registered number: 02800445) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2021 |
Additions |
Disposals | ( |
) |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Powell System Engineering Limited (Registered number: 02800445) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 May 2021 | 125,070 |
Disposals | (125,070 | ) |
At 30 April 2022 | - |
NET BOOK VALUE |
At 30 April 2022 | - |
At 30 April 2021 | 125,070 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: Unit 2 Fitzroy Business Park, Sandy Lane, Sidcup, Kent,DA14 5NL |
Nature of business: |
% |
Class of shares: | holding |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Powell System Engineering Limited (Registered number: 02800445) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.22 | 30.4.21 |
value: | £ | £ |
Ordinary | £1 | 99,976 | 99,976 |
Ordinary B | £1 | 34 | 34 |
100,010 | 100,010 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2021 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2022 |