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REGISTERED NUMBER: 03256737 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Power Services Limited

Power Services Limited (Registered number: 03256737)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Power Services Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P A Richard
Mrs A M Richard





SECRETARY: Mrs A M Richard





REGISTERED OFFICE: Unit 5, Breadbares Barn
Clay Lane
Chichester
West Sussex
PO18 8DJ





REGISTERED NUMBER: 03256737 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Power Services Limited (Registered number: 03256737)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,626 63,513

CURRENT ASSETS
Stocks 23,189 21,572
Debtors 5 217,440 155,824
Cash at bank 427,237 428,760
667,866 606,156
CREDITORS
Amounts falling due within one year 6 218,468 202,534
NET CURRENT ASSETS 449,398 403,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,024

467,135

PROVISIONS FOR LIABILITIES 1,147 1,445
NET ASSETS 495,877 465,690

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 495,777 465,590
SHAREHOLDERS' FUNDS 495,877 465,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Power Services Limited (Registered number: 03256737)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





P A Richard - Director


Power Services Limited (Registered number: 03256737)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Power Services 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 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.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Power Services Limited (Registered number: 03256737)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 273,802
DEPRECIATION
At 1 July 2022 210,289
Charge for year 15,887
At 30 June 2023 226,176
NET BOOK VALUE
At 30 June 2023 47,626
At 30 June 2022 63,513

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 157,131 75,783
Amounts recoverable on contract 21,704 48,126
Other debtors 38,605 31,915
217,440 155,824

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 119,102 119,344
Taxation and social security 92,941 79,490
Other creditors 6,425 3,700
218,468 202,534