Powertec Electrical Installation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04200859 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2018

for

POWERTEC ELECTRICAL INSTALLATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J M Bignell

B Hewitt

R C Emanuel

SECRETARY:

J M Bignell

REGISTERED OFFICE:

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

REGISTERED NUMBER:

04200859 (England and Wales)

ACCOUNTANTS:

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,798

14,398

10,798

14,398

CURRENT ASSETS

Stocks

6,072

1,767

Debtors

6

51,793

33,986

Cash at bank

642,195

666,749

700,060

702,502

CREDITORS

Amounts falling due within one year

7

288,628

276,308

NET CURRENT ASSETS

411,432

426,194

TOTAL ASSETS LESS CURRENT LIABILITIES

422,230

440,592

PROVISIONS FOR LIABILITIES

2,052

2,880

NET ASSETS

420,178

437,712

CAPITAL AND RESERVES

Called up share capital

750

750

Retained earnings

419,428

436,962

SHAREHOLDERS' FUNDS

420,178

437,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 28th December 2018 and were signed on its behalf by:

J M Bignell - Director

1.	STATUTORY INFORMATION

Powertec Electrical Installation 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 represents net amounts invoiced for services and materials, excluding Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, 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.

Plant and machinery - 25% reducing balance basis

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2017

and 31st March 2018

122,188

AMORTISATION

At 1st April 2017

and 31st March 2018

122,188

NET BOOK VALUE

At 31st March 2018

-

At 31st March 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2017

and 31st March 2018

43,800

DEPRECIATION

At 1st April 2017

29,402

Charge for year

3,600

At 31st March 2018

33,002

NET BOOK VALUE

At 31st March 2018

10,798

At 31st March 2017

14,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

51,769

33,986

Other debtors

24

-

51,793

33,986

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

6,655

11,839

Taxation and social security

57,095

55,132

Other creditors

224,878

209,337

288,628

276,308

8.	ULTIMATE CONTROLLING PARTY

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 Income Statement 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 Electrical Installation Limited for the year ended 31st March 2018 which

comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in

Equity 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 Electrical Installation 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 Electrical Installation Limited and state those matters that we have agreed to state to the Board of Directors of Powertec Electrical Installation 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 Electrical Installation Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Powertec Electrical Installation 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 Electrical Installation Limited. You consider that Powertec Electrical Installation 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 Electrical Installation 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.

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

28th December 2018