REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2022 |
for |
Powertec Utilities Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2022 |
for |
Powertec Utilities Ltd |
Powertec Utilities Ltd (Registered number: 08197024) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Powertec Utilities Ltd |
Company Information |
for the Year Ended 31 October 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6 Queens Court |
Third Avenue |
Team Valley |
Gateshead |
Tyne and Wear |
NE11 0BU |
Powertec Utilities Ltd (Registered number: 08197024) |
Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS/(LIABILITIES) | ( |
) |
Powertec Utilities Ltd (Registered number: 08197024) |
Balance Sheet - continued |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Powertec Utilities Ltd (Registered number: 08197024) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Powertec Utilities Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. This assumes that the company will continue to trade for the foreseeable future. In order to do so it relies on continued support from its directors, bank and creditors. |
Compliance with accounting standards |
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). |
Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
Tangible fixed assets and depreciation |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
Plant and machinery | at 15% on a reducing balance basis |
Fixtures, fittings & equipment | at 15% on a reducing balance basis |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Powertec Utilities Ltd (Registered number: 08197024) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 66,452 | 53,350 |
Prepayments |
Powertec Utilities Ltd (Registered number: 08197024) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Pension Account | - | 499 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021: |
31.10.22 | 31.10.21 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |