Abbreviated Company Accounts - POWERTEC LIMITED

Registered Number 06951463

POWERTEC LIMITED

Abbreviated Accounts

31 December 2015

POWERTEC LIMITED Registered Number 06951463

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	28,933	31,076
		28,933	31,076
Current assets
Stocks		55,238	51,521
Debtors		13,026	15,709
Cash at bank and in hand		8,457	12,892
		76,721	80,122
Creditors: amounts falling due within one year		(53,718)	(59,281)
Net current assets (liabilities)		23,003	20,841
Total assets less current liabilities		51,936	51,917
Creditors: amounts falling due after more than one year		(51,407)	(51,407)
Total net assets (liabilities)		529	510
Capital and reserves
Called up share capital		1	1
Other reserves		489	448
Profit and loss account		39	61
Shareholders' funds		529	510

For the year ending 31 December 2015 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 30 May 2016

And signed on their behalf by:
Dariusz Gruszczynski, Director

POWERTEC LIMITED Registered Number 06951463

Notes to the Abbreviated Accounts for the period ended 31 December 2015

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 value of all goods sold during the period less returns received at selling price excluding VAT

Tangible assets depreciation policy
There are no tangible assets

Intangible assets amortisation policy
Intangible assets are amortized over 20years on a straight line basis

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving stock

Other accounting policies
Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of teh transaction.

2Intangible fixed assets

	£
Cost
At 1 January 2015	42,864
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	42,864
Amortisation
At 1 January 2015	11,788
Charge for the year	2,143
On disposals	-
At 31 December 2015	13,931
Net book values
At 31 December 2015	28,933
At 31 December 2014	31,076