SECURE_POWER_GENERATION_L - Accounts
SECURE_POWER_GENERATION_L - Accounts
Company Registration No. 06744458 (England and Wales)
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
COMPANY INFORMATION
Directors
(Appointed 18 November 2016)
Secretary
Company number
Registered office
Accountants
Business address
189-193 Earls Court Road
London
SW5 9AN
Bankers
Barclays Bank Plc
75 King Street
London
W6 9HY
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2016
- 1 -
The directors present their report and financial statements for the year ended 31 May 2016.
Principal activities
The company changed its name on 14 November 2016 when the focus of the business changed to the development of secure energy systems.
Directors
The following directors have held office since 1 June 2015:
(Appointed 18 November 2016)
(Resigned 18 November 2016)
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to 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 those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and 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 directors are responsible for keeping adequate accounting records that 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. They are 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.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to 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 those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and 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 directors are responsible for keeping adequate accounting records that 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. They are 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.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
By order of the board
Secretary
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
2016
2015
Notes
£
£
Turnover
Cost of sales
(276,640 )
(99,534 )
Gross profit
Administrative expenses
(823 )
(860 )
Operating (loss)/profit
-
Interest payable and similar charges
-
(3 )
Loss on ordinary activities before taxation
-
-
Tax on loss on ordinary activities
2
-
-
Loss for the year
6
-
-
BALANCE SHEET
AS AT
31 MAY 2016
- 3 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
3
Cash at bank and in hand
Creditors: amounts falling due within one year
4
(88,744 )
(398,648 )
Total assets less current liabilities
Capital and reserves
Called up share capital
5
Profit and loss account
6
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 17 February 2017
Director
Company Registration No. 06744458
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
- 4 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
2
Taxation
On the basis of these financial statements no provision has been made for corporation tax.
3
Debtors
2016
2015
£
£
Trade debtors
-
Other debtors
4
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
Taxation and social security
-
Other creditors
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 5 -
6
Statement of movements on profit and loss account
Profit and loss
account
account
£
Balance at 1 June 2015
Balance at 31 May 2016
7
Control
During the period under review the immediate parent company is Mitro Holdings Limited, a company registered in England & Wales.