P W Utilities Limited Small abbreviated accounts

PW UTILITIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 06352362

P W UTILITIES

LIMITED

Unaudited

Abbreviated Accounts

31 October 2015

P W UTILITIES LIMITED

Abbreviated Balance Sheet

31 October 2015

	2015	2014
Note	£	£	£

CURRENT ASSETS

Debtors	2	104,440		86,275
Cash at bank and in hand	3,206		9
	---------		--------
	107,646		86,284
CREDITORS: Amounts falling due within one year	70,529		33,930
	---------		--------
NET CURRENT ASSETS		37,117	52,354
		--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		37,117	52,354
		--------	--------

CAPITAL AND RESERVES

Called up equity share capital	3		1	1
Profit and loss account		37,116	52,353
		--------	--------
SHAREHOLDERS' FUNDS		37,117	52,354
		--------	--------

For the year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 28 April 2016 .

Mr P Ward

Company Registration Number: 06352362

P W UTILITIES LIMITED

Notes to the Abbreviated Accounts

Year Ended 31 October 2015

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the invoice value of goods and services provided during the period, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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 or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. DEBTORS

Debtors include amounts of £17,537 (2014 - £17,022) falling due after more than one year.

3. SHARE CAPITAL

Allotted, called up and fully paid:

2015	2014
No	£	No	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----