Powertec Lighting Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02992590 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

POWERTEC LIGHTING LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Directors:

P C Dear

Mrs J K Steele

Secretary:

L S Tyson

Registered office:

c/o Haines Watts

Airport House

Purley Way

Croydon

Surrey

CR0 0XZ

Registered number:

02992590 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Bankers:

National Westminster Bank Plc

PO Box No 159

332 High Holborn

London

M16 0QN

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Powertec Lighting Limited for the year ended 31 March 2017 which comprise the Statement of

Comprehensive Income, Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Powertec Lighting Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powertec Lighting Limited and state those matters that we have agreed to state to the Board of Directors of Powertec Lighting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powertec Lighting Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Powertec Lighting 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 profit of Powertec Lighting Limited. You consider that Powertec Lighting 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 Powertec Lighting 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 financial statements.

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

31 January 2018

Fixed assets

Tangible assets

4

13,545

15,623

Current assets

Stocks

4,446

6,558

Debtors

5

32,031

36,571

Cash at bank

261,731

247,678

298,208

290,807

Creditors

Amounts falling due within one year

6

24,789

54,430

Net current assets

273,419

236,377

Total assets less current liabilities

286,964

252,000

Provisions for liabilities

7

2,198

2,643

Net assets

284,766

249,357

Capital and reserves

Called up share capital

8

100

100

Retained earnings

284,666

249,257

Shareholders' funds

284,766

249,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 31 January 2018 and were signed on its behalf by:

Mrs J K Steele - Director

1.	Statutory information

Powertec Lighting 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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.

Turnover

The total turnover of the company for the year has been derived from its principle activity wholly undertaken

in the UK.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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 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.

3.	Employees and directors

The average number of employees during the year was 1 (2016 - 1 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 April 2016

106,997

4,838

111,835

Additions

1,691

507

2,198

At 31 March 2017

108,688

5,345

114,033

Depreciation

At 1 April 2016

91,539

4,673

96,212

Charge for year

4,153

123

4,276

At 31 March 2017

95,692

4,796

100,488

Net book value

At 31 March 2017

12,996

549

13,545

At 31 March 2016

15,458

165

15,623

5.

Debtors: amounts falling due within one year

31.3.17

31.3.16

£

£

Trade debtors

32,031

36,571

6.

Creditors: amounts falling due within one year

31.3.17

31.3.16

£

£

Trade creditors

4,258

35,620

Taxation and social security

9,781

13,407

Other creditors

10,750

5,403

24,789

54,430

7.	Provisions for liabilities

31.3.17

31.3.16

£

£

Deferred tax

2,198

2,643

Deferred

tax

£

Balance at 1 April 2016

2,643

Provided during year

(445

)

Accelerated capital allowances

Balance at 31 March 2017

2,198

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary shares

1

100

100

9.	Related party disclosures

Microtec Instruments Ltd

A company in which P Dear is a director and shareholder

Manufacturing services of £85,525 (2016: £97,025) were purchased from Microtec Instruments Ltd during the

year on a normal trading basis.

31.3.17

31.3.16

£

£

Amount due to related party at the balance sheet date

-

7,189

10.	Ultimate controlling party

The controlling interest is held by Janet Steele who owns 55% of the share capital of the company.

11.	First year adoption

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at

1st April 2016.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.