Powered Up Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07805424 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

Powered Up Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

G Wells

M Wells

Mrs E S L Bayliss-Wells

REGISTERED OFFICE:

19 Warren Park Way

Enderby

Leicester

LE19 4SA

REGISTERED NUMBER:

07805424 (England and Wales)

ACCOUNTANTS:

Carter & Co

19 Warren Park Way

Enderby

Leicester

LE19 4SA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,336

11,595

17,336

11,595

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

43,905

35,901

Cash at bank

25,056

34,336

70,961

72,237

CREDITORS

Amounts falling due within one year

7

51,576

58,999

NET CURRENT ASSETS

19,385

13,238

TOTAL ASSETS LESS CURRENT LIABILITIES

36,721

24,833

CREDITORS

Amounts falling due after more than one year

8

5,195

2,134

NET ASSETS

31,526

22,699

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,426

22,599

SHAREHOLDERS' FUNDS

31,526

22,699

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 January 2018 and were signed on its behalf by:

G Wells - Director

M Wells - Director

1.	STATUTORY INFORMATION

Powered Up 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

20,000

AMORTISATION

At 1 November 2016

and 31 October 2017

20,000

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

18,411

Additions

16,469

Disposals

(12,995

)

At 31 October 2017

21,885

DEPRECIATION

At 1 November 2016

6,816

Charge for year

1,388

Eliminated on disposal

(3,655

)

At 31 October 2017

4,549

NET BOOK VALUE

At 31 October 2017

17,336

At 31 October 2016

11,595

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 November 2016

12,995

Additions

15,500

Disposals

(12,995

)

At 31 October 2017

15,500

DEPRECIATION

At 1 November 2016

3,655

Charge for year

388

Eliminated on disposal

(3,655

)

At 31 October 2017

388

NET BOOK VALUE

At 31 October 2017

15,112

At 31 October 2016

9,340

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

41,335

33,251

Other debtors

2,570

2,650

43,905

35,901

Other debtors represents a PAYE refund due of £1,627 (2016: £1,895) and prepayments amounting to £943 (2016: £755).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

2,705

2,562

Trade creditors

9,467

9,850

Taxation and social security

29,992

29,642

Other creditors

9,412

16,945

51,576

58,999

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

5,195

2,134

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £40,500 (2016 - £39,000) were paid to the directors .

The following reproduces the text of the report prepared for the directors and members 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 Income Statement and certain other primary statements and the Report of the

Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2017 set out on pages three to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Carter & Co

19 Warren Park Way

Enderby

Leicester

LE19 4SA

28 January 2018