Abbreviated Company Accounts - POWYS ENGINEERING LTD

POWYS ENGINEERING LTD - Company Information

04037172 POWYS ENGINEERING LTD 2013-12-31 false 2013-01-01 2013-12-31 true 04037172 2013-01-01 2013-12-31 04037172 2013-12-31 04037172 2012-12-31 04037172 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 04037172 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 04037172

POWYS ENGINEERING LTD

Abbreviated Accounts

31 December 2013

POWYS ENGINEERING LTD Registered Number 04037172

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	4,175	3,255
		4,175	3,255
Current assets
Stocks		285	287
Debtors		24,832	15,583
Cash at bank and in hand		28,405	32,156
		53,522	48,026
Creditors: amounts falling due within one year		(31,146)	(22,284)
Net current assets (liabilities)		22,376	25,742
Total assets less current liabilities		26,551	28,997
Provisions for liabilities		(116)	(335)
Total net assets (liabilities)		26,435	28,662
Capital and reserves
Called up share capital	3	20	20
Profit and loss account		26,415	28,642
Shareholders' funds		26,435	28,662

For the year ending 31 December 2013 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 22 September 2014

And signed on their behalf by:
D J Thomas, Director

POWYS ENGINEERING LTD Registered Number 04037172

Notes to the Abbreviated Accounts for the period ended 31 December 2013

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.

Turnover policy
Turnover represents the total invoice value,excluding value added tax,of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery-20% reducing balance
Fixtures,fittings and equipment-30% reducing balance
Motor vehicles- 25% reducing balance

Other accounting policies
Stock and work in progress
Stock and work in progress is valued at the lower of cost and net realisable value
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more,or a right to pay less,tax.

2Tangible fixed assets

	£
Cost
At 1 January 2013	24,938
Additions	2,742
Disposals	(200)
Revaluations	-
Transfers	-
At 31 December 2013	27,480
Depreciation
At 1 January 2013	21,683
Charge for the year	1,622
On disposals	-
At 31 December 2013	23,305
Net book values
At 31 December 2013	4,175
At 31 December 2012	3,255

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

	2013 £	2012 £
20 Ordinary shares of £1 each	20	20