Powerlink Electrical Services Limited - Period Ending 2016-03-31

Registration number: 05365018

 

Powerlink Electrical Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Powerlink Electrical Services Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Powerlink Electrical Services Limited
balance sheet as at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					11,055			14,487
Current assets
Stocks					9,345			12,772
Debtors					87,974			48,140
Cash at bank and in hand					38,265			10,797
					135,584			71,709
Creditors: Amounts falling due within one year					(103,822)			(147,545)
Net current assets/(liabilities)					31,762			(75,836)
Total assets less current liabilities					42,817			(61,349)
Provisions for liabilities					(1,132)			-
Total net assets/(liabilities)					41,685			(61,349)
Capital and reserves
Called up share capital		3			100,000			100,000
Profit and loss account					(58,315)			(161,349)
Shareholders' funds/(deficit)					41,685			(61,349)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Powerlink Electrical Services Limited
balance sheet as at 31 March 2016
......... continued

For the year ending 31 March 2016 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 25 July 2016 and signed on its behalf by:

.........................................
M J Parkin
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Powerlink Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write of the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant & Machinery	15% on Net Book Value
Fixtures & Fittings	20% on Net Book Value
Motor Vehicles	25% on Net Book Value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Powerlink Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		53,070			53,070
At 31 March 2016		53,070			53,070
Depreciation
At 1 April 2015		38,583			38,583
Charge for the year		3,432			3,432
At 31 March 2016		42,015			42,015
Net book value
At 31 March 2016		11,055			11,055
At 31 March 2015		14,487			14,487

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100,000			100,000			100,000			100,000

Page 4