Western Power & Lighting Limited - Period Ending 2016-05-31

Registration number: 09056035

Western Power & Lighting Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Western Power & Lighting Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Western Power & Lighting Limited
(Registration number: 09056035)
Abbreviated Balance Sheet at 31 May 2016

		Note			31 May 2016 £			31 May 2015 £
Fixed assets
Tangible fixed assets		2			36,447			15,642
Current assets
Stocks					53,811			-
Debtors					67,671			12,106
Cash at bank and in hand					5,738			23,786
					127,220			35,892
Creditors: Amounts falling due within one year					(100,060)			(44,274)
Net current assets/(liabilities)					27,160			(8,382)
Total assets less current liabilities					63,607			7,260
Creditors: Amounts falling due after more than one year					(19,354)			(10,146)
Net assets/(liabilities)					44,253			(2,886)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					44,153			(2,986)
Shareholders' funds/(deficit)					44,253			(2,886)

For the year ending 31 May 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 27 February 2017 and signed on its behalf by:

.........................................
Mr W Jeffries
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
  Page 1

Western Power & Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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 the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion, Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Depreciation

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

Asset class	Depreciation method and rate
Office equipment	20% straight line
Motor vehicles	20% reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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Western Power & Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		15,873			15,873
Additions		27,439			27,439
At 31 May 2016		43,312			43,312
Depreciation
At 1 June 2015		231			231
Charge for the year		6,634			6,634
At 31 May 2016		6,865			6,865
Net book value
At 31 May 2016		36,447			36,447
At 31 May 2015		15,642			15,642

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 May 2016 £			31 May 2015 £
Amounts falling due within one year		10,133			4,572
Amounts falling due after more than one year		19,354			10,146
Total secured creditors		29,487			14,718

4	Share capital

Allotted, called up and fully paid shares

	31 May 2016						31 May 2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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Western Power & Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

5	Related party transactions

Directors' advances and credits

	Year ended 31 May 2016 Advance/ Credit £	Year ended 31 May 2016 Repaid £	27 May 2014 to 31 May 2015 Advance/ Credit £	27 May 2014 to 31 May 2015 Repaid £
Mr W Jeffries
Amounts advanced and repaid	18,698	18,748	50	-
Mr G Barnes
Amounts advanced and repaid	63,935	63,935	-	-

These transactions have been aggregated by kind. The directors consider that this treatment does not impair a true and fair view of the financial statements.

Page 4