POWERLAND_ESTATES_LIMITED - Accounts

POWERLAND ESTATES LIMITED - Company Information

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Company Registration No. 04196764 (England and Wales)

POWERLAND ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

POWERLAND ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

POWERLAND ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

2,839

3,550

Current assets

Stocks

87,600

Cash at bank and in hand

251

87,851

87,648

Creditors: amounts falling due within one year

(210,257)

(208,693)

Net current liabilities

(122,406)

(121,045)

Total assets less current liabilities

(119,567)

(117,495)

Capital and reserves

Called up share capital

Profit and loss account

(119,568)

(117,496)

Shareholders' funds

(119,567)

(117,495)

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 March 2017

Mr S Kitching

Director

Company Registration No. 04196764

POWERLAND ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has net current liabilities of £122,406 (2015: £121,045) at the balance sheet date which suggests that the going concern basis may not be appropriate. However, the directors have given informal assurance that they will continue to provide support to the company to allow it to continue in operation for the foreseeable future. The directors therefore consider it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

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

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% reducing balance

Computer equipment

20% reducing balance

Fixtures, fittings & equipment

20% reducing balance

Fixed assets

Tangible assets

Cost

At 1 May 2015 & at 30 April 2016

36,526

Depreciation

At 1 May 2015

32,976

Charge for the year

711

At 30 April 2016

33,687

Net book value

At 30 April 2016

2,839

At 30 April 2015

3,550

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary share of £1 each