Abbreviated Company Accounts - POWERNETS (UK) LIMITED

Abbreviated Company Accounts - POWERNETS (UK) LIMITED

POWERNETS (UK) LIMITED - Company Information

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Registered Number 04055262

POWERNETS (UK) LIMITED

Abbreviated Accounts

31 August 2016

POWERNETS (UK) LIMITED Registered Number 04055262

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 101,439 107,537
Tangible assets 3 39,095 42,273
140,534 149,810
Current assets
Stocks 28,420 14,196
Debtors 541,983 132,319
Cash at bank and in hand 559,985 628,957
1,130,388 775,472
Creditors: amounts falling due within one year (500,130) (252,515)
Net current assets (liabilities) 630,258 522,957
Total assets less current liabilities 770,792 672,767
Creditors: amounts falling due after more than one year (7,819) (8,455)
Total net assets (liabilities) 762,973 664,312
Capital and reserves
Called up share capital 10 10
Profit and loss account 762,963 664,302
Shareholders' funds 762,973 664,312
  • For the year ending 31 August 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 26 April 2017

And signed on their behalf by:
J M Banks, Director

POWERNETS (UK) LIMITED Registered Number 04055262

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value of each asset on a systematic basis over its expected life as follows: Fixtures & Fixtures 15% per annum reducing balance basis. Motor vehicles 25% per annum reducing balance basis. Computer equipment 20% per annum straight line basis. Plant & Machinery 25% per annum reducing balance basis. Leasehold premises 5% per annum straight line basis.

Intangible assets amortisation policy
Intangible assets are amortised on a straight-line basis over their useful lives. Provision is made for impairment.

2Intangible fixed assets
£
Cost
At 1 September 2015 121,963
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2016 121,963
Amortisation
At 1 September 2015 14,426
Charge for the year 6,098
On disposals -
At 31 August 2016 20,524
Net book values
At 31 August 2016 101,439
At 31 August 2015 107,537
3Tangible fixed assets
£
Cost
At 1 September 2015 75,206
Additions 6,208
Disposals -
Revaluations -
Transfers -
At 31 August 2016 81,414
Depreciation
At 1 September 2015 32,933
Charge for the year 9,386
On disposals -
At 31 August 2016 42,319
Net book values
At 31 August 2016 39,095
At 31 August 2015 42,273