Powerforce App Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 03681618 (England and Wales)

POWERFORCE APP LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

PH Buxton

Mrs S Buxton

SECRETARY:

PH Buxton

REGISTERED OFFICE:

Lower Farm

Fradswell

Stafford

Staffordshire

ST18 0EX

REGISTERED NUMBER:

03681618 (England and Wales)

FIXED ASSETS

Tangible assets

4

4,689

4,022

CURRENT ASSETS

Debtors

5

2,244

39,136

Cash at bank

103,721

96,097

105,965

135,233

CREDITORS

Amounts falling due within one year

6

(16,141

)

(27,431

)

NET CURRENT ASSETS

89,824

107,802

TOTAL ASSETS LESS CURRENT LIABILITIES

94,513

111,824

PROVISIONS FOR LIABILITIES

(811

)

(667

)

NET ASSETS

93,702

111,157

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

93,700

111,155

SHAREHOLDERS' FUNDS

93,702

111,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 19 June 2017 and were signed on its behalf by:

PH Buxton - Director

1.	STATUTORY INFORMATION

Powerforce App Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section

1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act

2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

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

discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from consultancy work is recognised

by reference to the stage of completion at the balance sheet date. Stage of completion is measured by

reference to the date the work was carried out.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

30,139

Additions

2,209

At 31 December 2016

32,348

DEPRECIATION

At 1 January 2016

26,117

Charge for year

1,542

At 31 December 2016

27,659

NET BOOK VALUE

At 31 December 2016

4,689

At 31 December 2015

4,022

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

-

38,776

Tax

2,117

-

VAT

87

311

Prepayments

40

49

2,244

39,136

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Tax

-

11,669

Directors' current accounts

14,796

14,302

Accruals and deferred income

1,345

1,460

16,141

27,431

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary Shares

£1

2

2