Poltek Communications Ltd
Poltek Communications Ltd
Registered number: 4173406
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 March 2016
Norfolk House
Station Road
Chesham
Buckinghamshire
HP5 1DH
Poltek Communications Ltd
Director's Report and Financial Statements
For The Year Ended 31 March 2016
Director's Report and Financial Statements
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| Company Information | 1 |
| Director's Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Accounts | 7—9 |
Poltek Communications Ltd
Company Information
For The Year Ended 31 March 2016
Company Information
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| Accountants | Elizabeth Pooley FCA |
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Page 1
Poltek Communications Ltd
Company No. 4173406
Director's Report For The Year Ended 31 March 2016
Director's Report
The director presents his report and the financial statements for the year ended 31 March 2016 .
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal Activity
The company's principal activity continues to be that of communications and IT solutions.
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
Poltek Communications Ltd
Accountant's Report
For The Year Ended 31 March 2016
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Poltek Communications Ltd For The Year Ended 31 March 2016
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Poltek Communications Ltd For The Year Ended 31 March 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the director of Poltek Communications Ltd , as a body, in accordance with the terms of our engagement letter dated .19 October 2012 Our work has been undertaken solely to prepare for your approval the accounts of Poltek Communications Ltd and state those matters that we have agreed to state to the director of Poltek Communications Ltd , as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poltek Communications Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Poltek Communications Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Poltek Communications Ltd . You consider that Poltek Communications Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Poltek Communications Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Elizabeth Pooley
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31/12/2016
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Norfolk House
Station Road
Chesham
Buckinghamshire
HP5 1DH
Page 3
Poltek Communications Ltd
Profit and Loss Account
For The Year Ended 31 March 2016
Profit and Loss Account
| 2016 | 2015 | |||
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| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| OPERATING PROFIT/(LOSS) BEFORE EXCEPTIONAL ITEMS | 2 |
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| Loss on disposal of fixed assets |
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| PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION |
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| Tax on profit on ordinary activities | 3 |
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| PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 9 |
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Page 4
Poltek Communications Ltd
Balance Sheet
As at
31 March 2016
Balance Sheet
| 2016 | 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| 720 | 818 | ||||
| CURRENT ASSETS | |||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 9 |
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Page 5
Poltek Communications Ltd
Balance Sheet (continued)
As at
31 March 2016
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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Page 6
Poltek Communications Ltd
Notes to the Unaudited Accounts
For The Year Ended 31 March 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider 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 taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.
Operating Loss
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| Bad debts |
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| Director's remuneration |
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| Depreciation of tangible fixed assets |
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Tax on Profit on Ordinary Activities
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| Total Current Tax Charge |
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| Deferred Taxation | (17) | 22 | |
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Page 7
Poltek Communications Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2016
4.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Debtors
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| Trade debtors |
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| Other debtors |
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| Corporation tax recoverable assets |
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Creditors: Amounts Falling Due Within One Year
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| Trade creditors |
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| Corporation tax |
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| VAT |
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| Other creditors |
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| Director's Loan Account | 10,861 | 9,389 | |
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Page 8
Poltek Communications Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2016
7.
Deferred Taxation
| 2016 | 2015 | ||
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| Deferred taxation |
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The provision for deferred taxation is made up of accelerated capital allowances
9.
Reconciliation of Reserves
| Share Capital | Profit & Loss Account | |
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| Loss for year | - |
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| Dividends paid | - | (18,500) |
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10.
Transactions With and Loans to Directors
Dividends paid to directors
11.
Dividends
| 2016 | 2015 | ||
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| Final dividend paid |
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| 18,500 | 8,000 | ||
12.
Ultimate Controlling Party
The company's ultimate controlling party is Peter Kaczmarek by virtue of his ownership of 100% of the issued share capital in the company.
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