Powa Services Limited 03905916 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is industrial cleaning Digita Accounts Production Advanced 6.30.9574.0 true true 03905916 2021-04-01 2022-03-31 03905916 2022-03-31 03905916 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-03-31 03905916 core:RetainedEarningsAccumulatedLosses 2022-03-31 03905916 core:ShareCapital 2022-03-31 03905916 core:FinanceLeases core:CurrentFinancialInstruments 2022-03-31 03905916 core:FinanceLeases core:Non-currentFinancialInstruments 2022-03-31 03905916 core:CurrentFinancialInstruments 2022-03-31 03905916 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03905916 core:Non-currentFinancialInstruments 2022-03-31 03905916 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 03905916 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 03905916 core:MotorVehicles 2022-03-31 03905916 core:PlantMachinery 2022-03-31 03905916 bus:SmallEntities 2021-04-01 2022-03-31 03905916 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 03905916 bus:FullAccounts 2021-04-01 2022-03-31 03905916 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 03905916 bus:RegisteredOffice 2021-04-01 2022-03-31 03905916 bus:Director1 2021-04-01 2022-03-31 03905916 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2021-04-01 2022-03-31 03905916 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 03905916 core:Buildings 2021-04-01 2022-03-31 03905916 core:LandBuildings core:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 03905916 core:MotorVehicles 2021-04-01 2022-03-31 03905916 core:PlantMachinery 2021-04-01 2022-03-31 03905916 countries:England 2021-04-01 2022-03-31 03905916 2021-03-31 03905916 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 03905916 core:MotorVehicles 2021-03-31 03905916 core:PlantMachinery 2021-03-31 03905916 2020-04-01 2021-03-31 03905916 2021-03-31 03905916 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2021-03-31 03905916 core:RetainedEarningsAccumulatedLosses 2021-03-31 03905916 core:ShareCapital 2021-03-31 03905916 core:FinanceLeases core:CurrentFinancialInstruments 2021-03-31 03905916 core:FinanceLeases core:Non-currentFinancialInstruments 2021-03-31 03905916 core:CurrentFinancialInstruments 2021-03-31 03905916 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 03905916 core:Non-currentFinancialInstruments 2021-03-31 03905916 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 03905916 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 03905916 core:MotorVehicles 2021-03-31 03905916 core:PlantMachinery 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03905916

Powa Services Limited

Information for Filing with The Registrar

31 March 2022

 

Powa Services Limited

(Registration number: 03905916)

Balance Sheet

31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

296,146

539,714

Current assets

 

Debtors

5

126,713

123,460

Cash at bank and in hand

 

174,238

277,863

 

300,951

401,323

Creditors: Amounts falling due within one year

6

(352,875)

(267,591)

Net current (liabilities)/assets

 

(51,924)

133,732

Total assets less current liabilities

 

244,222

673,446

Creditors: Amounts falling due after more than one year

6

(43,333)

(94,849)

Provisions for liabilities

(55,000)

(99,000)

Net assets

 

145,889

479,597

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

145,887

479,595

Shareholders' funds

 

145,889

479,597

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 July 2022 and signed on its behalf by:




H.A. Hunter

Director

 

Powa Services Limited

Notes to the Accounts

Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Rose Cottage Farm
Hall Lane
Church Fenton
Tadcaster
LS24 9RN

These financial statements were authorised for issue by the Board on 13 July 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis on the assumption that the director will continue to support the company for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises corporation and deferred tax.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the financial statements at cost, less any subsequent accumulated depreciation.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition.

 

Powa Services Limited

Notes to the Accounts

Year Ended 31 March 2022

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

10 years straight line basis

Plant and machinery

10 years straight line basis

Motor vehicles

10 years straight line basis

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 6 (2021 - 7).

 

Powa Services Limited

Notes to the Accounts

Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor
vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

133,153

102,728

759,591

995,472

Additions

-

1,858

38,920

40,778

Disposals

-

(63,490)

(281,762)

(345,252)

At 31 March 2022

133,153

41,096

516,749

690,998

Depreciation

At 1 April 2021

114,686

50,000

291,072

455,758

Charge for the year

9,864

2,829

46,937

59,630

Eliminated on disposal

-

(25,396)

(95,140)

(120,536)

At 31 March 2022

124,550

27,433

242,869

394,852

Carrying amount

At 31 March 2022

8,603

13,663

273,880

296,146

At 31 March 2021

18,467

52,728

468,519

539,714

Included within the net book value of land and buildings above is £8,603 (2021 - £18,467) in respect of freehold land and buildings.
 

5

Debtors

Current

2022
£

2021
£

Trade debtors

124,103

87,789

Prepayments

610

1,090

Other debtors

2,000

34,581

 

126,713

123,460

 

Powa Services Limited

Notes to the Accounts

Year Ended 31 March 2022

6

Creditors

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

15,682

77,184

Trade creditors

 

30,133

17,667

Amounts due to related parties

165,877

56,226

Corporation tax

 

52,596

81,893

Other taxes and social security

 

84,118

30,653

Other creditors

 

4,469

3,968

 

352,875

267,591

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

43,333

94,849

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

43,333

48,333

Finance lease liabilities

-

46,516

43,333

94,849

 

Powa Services Limited

Notes to the Accounts

Year Ended 31 March 2022

2022
£

2021
£

Current loans and borrowings

Bank borrowings

6,666

1,667

Finance lease liabilities

9,016

75,517

15,682

77,184