Powered Up Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07805424 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

Powered Up Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

11,961

17,336

11,961

17,336

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

41,891

43,905

Cash at bank

34,928

25,056

78,819

70,961

CREDITORS

Amounts falling due within one year

7

61,678

51,576

NET CURRENT ASSETS

17,141

19,385

TOTAL ASSETS LESS CURRENT LIABILITIES

29,102

36,721

CREDITORS

Amounts falling due after more than one year

8

2,490

5,195

NET ASSETS

26,612

31,526

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

26,512

31,426

SHAREHOLDERS' FUNDS

26,612

31,526

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 24 January 2019 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 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2017

and 31 October 2018

20,000

AMORTISATION

At 1 November 2017

and 31 October 2018

20,000

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

21,885

Disposals

(2,850

)

At 31 October 2018

19,035

DEPRECIATION

At 1 November 2017

4,549

Charge for year

4,473

Eliminated on disposal

(1,948

)

At 31 October 2018

7,074

NET BOOK VALUE

At 31 October 2018

11,961

At 31 October 2017

17,336

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

Plant and

machinery

etc

£

COST

At 1 November 2017

and 31 October 2018

15,500

DEPRECIATION

At 1 November 2017

388

Charge for year

3,778

At 31 October 2018

4,166

NET BOOK VALUE

At 31 October 2018

11,334

At 31 October 2017

15,112

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

41,394

41,335

Other debtors

497

2,570

41,891

43,905

Other debtors represents a PAYE refund due of £NIL (2017: £1,627) and prepayments amounting to £497 (2017: £943).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Hire purchase contracts

2,705

2,705

Trade creditors

9,252

9,467

Taxation and social security

35,151

29,992

Other creditors

14,570

9,412

61,678

51,576

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.18

31.10.17

£

£

Hire purchase contracts

2,490

5,195

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

100

Ordinary

£1.00

100

100

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £63,600 (2017 - £40,500) were paid to the directors .