2022-04-012023-03-312023-03-31falseNI638049POWERVILLE 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POWERVILLE LTD

Registered Number
NI638049
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2023

POWERVILLE LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

BERRY, Ivan

Registered Address

41 Tullyraine Road
Banbridge
BT32 4PR

Registered Number

NI638049 (Northern Ireland)
POWERVILLE LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets510,80712,714
10,80712,714
Current assets
Stocks64,0004,000
Cash at bank and on hand3,4215,615
7,4219,615
Creditors amounts falling due within one year8(53,050)(51,083)
Net current assets (liabilities)(45,629)(41,468)
Total assets less current liabilities(34,822)(28,754)
Net assets(34,822)(28,754)
Capital and reserves
Called up share capital100100
Profit and loss account(34,922)(28,854)
Shareholders' funds(34,822)(28,754)
The financial statements were approved and authorised for issue by the Director on 4 October 2023, and are signed on its behalf by:
BERRY, Ivan
Director
Registered Company No. NI638049
POWERVILLE LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 April 2212,87512,875
At 31 March 2312,87512,875
Depreciation and impairment
At 01 April 22161161
Charge for year1,9071,907
At 31 March 232,0682,068
Net book value
At 31 March 2310,80710,807
At 31 March 2212,71412,714
6.Stocks

2023

2022

££
Raw materials and consumables4,0004,000
Total4,0004,000
7.Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables11,01516,749
Amounts owed to related parties10,9429,842
Taxation and social security15,6449,252
Accrued liabilities and deferred income15,44915,240
Total53,05051,083
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.