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REGISTERED NUMBER: 02844990 (England and Wales)















STAMFORD POWER SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






STAMFORD POWER SYSTEMS LIMITED (REGISTERED NUMBER: 02844990)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


STAMFORD POWER SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mrs M A R Hassan





REGISTERED OFFICE: 14 All Saints Street
Stamford
Lincolnshire
PE9 2PA





REGISTERED NUMBER: 02844990 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

STAMFORD POWER SYSTEMS LIMITED (REGISTERED NUMBER: 02844990)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 357 420

CURRENT ASSETS
Stocks 44,110 48,401
Debtors 5 621,498 620,942
Cash at bank 8,948 94,950
674,556 764,293
CREDITORS
Amounts falling due within one year 6 243,157 322,889
NET CURRENT ASSETS 431,399 441,404
TOTAL ASSETS LESS CURRENT LIABILITIES 431,756 441,824

CAPITAL AND RESERVES
Called up share capital 7 200,000 200,000
Retained earnings 231,756 241,824
SHAREHOLDERS' FUNDS 431,756 441,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 30 October 2023 and were signed by:





Mrs M A R Hassan - Director


STAMFORD POWER SYSTEMS LIMITED (REGISTERED NUMBER: 02844990)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Stamford Power Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 2 ) .

STAMFORD POWER SYSTEMS LIMITED (REGISTERED NUMBER: 02844990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2022
and 31 December 2022 583
DEPRECIATION
At 1 January 2022 163
Charge for year 63
At 31 December 2022 226
NET BOOK VALUE
At 31 December 2022 357
At 31 December 2021 420

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 586,919 577,595
Other debtors 34,579 43,347
621,498 620,942

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 6,937 -
Trade creditors 189,545 262,239
Taxation and social security 847 2,538
Other creditors 45,828 58,112
243,157 322,889

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
200,000 Ordinary £1 200,000 200,000