Powervault Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08313356 (England and Wales)

POWERVAULT LTD

ABBREVIATED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J S B Byrne

Sustainable Venture Development Capital LLP

N Miaoulis

P C Roberts

J D Warren

S H V Acland

V V Lazorin

REGISTERED OFFICE:

29 Shand Street

London

SE1 2ES

REGISTERED NUMBER:

08313356 (England and Wales)

ACCOUNTANTS:

Perrys Accountants Limited

Chartered Accountants

3 Roberts Mews

Orpington

Kent

BR6 0JP

FIXED ASSETS

Tangible assets

2

1,067

-

CURRENT ASSETS

Stocks

67,119

2,781

Debtors

49,478

5,171

Cash at bank and in hand

518,249

3,555

634,846

11,507

CREDITORS

Amounts falling due within one year

57,189

22,561

NET CURRENT ASSETS/(LIABILITIES)

577,657

(11,054

)

TOTAL ASSETS LESS CURRENT LIABILITIES

578,724

(11,054

)

CREDITORS

Amounts falling due after more than one year

28,042

25,542

NET ASSETS/(LIABILITIES)

550,682

(36,596

)

CAPITAL AND RESERVES

Called up share capital

3

273

105

Share premium

819,607

-

Profit and loss account

(269,198

)

(36,701

)

SHAREHOLDERS' FUNDS

550,682

(36,596

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 June 2016 and were signed on its behalf by:

J D Warren - Director

1.	ACCOUNTING POLICIES

Accounting convention

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 grants and net invoiced sales of goods excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a salary sacrifice scheme. Contributions paid via the scheme are charged to

the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

1,533

At 30 September 2015

1,533

DEPRECIATION

Charge for year

466

At 30 September 2015

466

NET BOOK VALUE

At 30 September 2015

1,067

3.	CALLED UP SHARE CAPITAL