Power U Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04247365 (England and Wales)

Abbreviated Accounts for the Year Ended 31 December 2015

for

Power U Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G M Barruw

Mrs C Barruw

SECRETARY:

Mrs C Barruw

REGISTERED OFFICE:

10/14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

04247365 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

FIXED ASSETS

Tangible assets

2

5,368

3,414

CURRENT ASSETS

Stocks

-

1,949

Debtors

8,463

8,161

Cash at bank and in hand

83,154

28,960

91,617

39,070

CREDITORS

Amounts falling due within one year

45,261

26,723

NET CURRENT ASSETS

46,356

12,347

TOTAL ASSETS LESS CURRENT
LIABILITIES

51,724

15,761

PROVISIONS FOR LIABILITIES

871

139

NET ASSETS

50,853

15,622

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

50,849

15,618

SHAREHOLDERS' FUNDS

50,853

15,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 27 May 2016 and were signed on its behalf by:

Mrs C Barruw - Director

G M Barruw - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised

at the point supplies are provided to customers.

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

-

25% 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 except that:

- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient

taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

19,720

Additions

4,481

At 31 December 2015

24,201

DEPRECIATION

At 1 January 2015

16,306

Charge for year

2,527

At 31 December 2015

18,833

NET BOOK VALUE

At 31 December 2015

5,368

At 31 December 2014

3,414

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

4

Ordinary

£1

4