POWERLEC_DISTRIBUTORS_(DE - Accounts

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED - Company Information

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Company Registration No. 06773463 (England and Wales)

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE

UNAUDITED STATUTORY ACCOUNTS OF POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powerlec Distributors (Derbyshire) Limited for the year ended 30 September 2016 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Powerlec Distributors (Derbyshire) Limited, as a body, in accordance with the terms of our engagement letter dated 15 August 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Powerlec Distributors (Derbyshire) Limited and state those matters that we have agreed to state to the Board of Directors of Powerlec Distributors (Derbyshire) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powerlec Distributors (Derbyshire) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Powerlec Distributors (Derbyshire) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Powerlec Distributors (Derbyshire) Limited. You consider that Powerlec Distributors (Derbyshire) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powerlec Distributors (Derbyshire) Limited. 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 statutory accounts.

Jackson Calvert Limited

26 April 2017

Chartered Accountants

Bennett Corner House

33 Coleshill Street

Sutton Coldfield

West Midlands

B72 1SD

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

2,445

3,288

Current assets

Stocks

62,000

61,670

Debtors

79,008

83,328

Cash at bank and in hand

1,120

361

142,128

145,359

Creditors: amounts falling due within one year

(168,612)

(145,227)

Net current liabilities/(assets)

(26,484)

132

Total assets less current liabilities

(24,039)

3,420

Capital and reserves

Called up share capital

100

Profit and loss account

(24,139)

3,320

Shareholders' funds

(24,039)

3,420

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

Directors' 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 directors acknowledge their 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 26 April 2017

Mr D C Downes

Director

Company Registration No. 06773463

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

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 accounts have been prepared on a going concern basis, the validity is on the basis that Powerlec Distributors Limited will not seek full repayment of their loan accounts over forthcoming 12 months.

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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:

Land and buildings Leasehold

Straight line over the lease term

Computer equipment

25% Reducing balance

Fixtures, fittings & equipment

25% Reducing balance

Motor vehicles

25% Reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

18,094

Depreciation

At 1 October 2015

14,806

Charge for the year

843

At 30 September 2016

15,649

Net book value

At 30 September 2016

2,445

At 30 September 2015

3,288

POWERLEC DISTRIBUTORS (DERBYSHIRE) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100