Power Handling Limited - Accounts to registrar (filleted) - small 23.2.5
Power Handling Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2023 |
| for |
| Power Handling Limited |
| Power Handling Limited (Registered number: 05220583) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Power Handling Limited |
| Company Information |
| for the Year Ended 30 September 2023 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Hazlemere |
| 70 Chorley New Road |
| Bolton |
| Lancashire |
| BL1 4BY |
| BANKERS: |
| Power Handling Limited (Registered number: 05220583) |
| Balance Sheet |
| 30 September 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Power Handling Limited (Registered number: 05220583) |
| Balance Sheet - continued |
| 30 September 2023 |
| The director acknowledges his 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 director and authorised for issue on |
| Power Handling Limited (Registered number: 05220583) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2023 |
| 1. | STATUTORY INFORMATION |
| Power Handling Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total invoice vale, excluding value added tax, of work done during the year and derives from the provision of goods and services falling within the company's ordinary activities. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Power Handling Limited (Registered number: 05220583) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Fixtures |
| Equipment | Plant and | and |
| for Hire | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 October 2022 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2023 |
| DEPRECIATION |
| At 1 October 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 September 2023 |
| NET BOOK VALUE |
| At 30 September 2023 |
| At 30 September 2022 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2022 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 September 2023 |
| DEPRECIATION |
| At 1 October 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 September 2023 |
| NET BOOK VALUE |
| At 30 September 2023 |
| At 30 September 2022 |
| Power Handling Limited (Registered number: 05220583) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Equipment |
| for Hire |
| £ |
| COST |
| At 1 October 2022 |
| and 30 September 2023 |
| DEPRECIATION |
| At 1 October 2022 |
| Charge for year |
| At 30 September 2023 |
| NET BOOK VALUE |
| At 30 September 2023 |
| At 30 September 2022 |
| 5. | STOCKS |
| 2023 | 2022 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 8,600 | 8,475 |
| Other creditors |
| Directors' loan accounts | 8,978 | 12,362 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| Power Handling Limited (Registered number: 05220583) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2023 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts | 25,535 | 38,605 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 12,869 | 12,869 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2022 |
| Balance at 30 September 2023 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |