Company Registration No. 04382206 (England and Wales)
Npowered Limited
Unaudited accounts
for the year ended 29 February 2024
Npowered Limited
Unaudited accounts
Contents
Npowered Limited
Company Information
for the year ended 29 February 2024
Director
Professor Robert Lewin
Company Number
04382206 (England and Wales)
Registered Office
21 ROPERY WALK
POCKLINGTON
YORK
YO42 2BF
ENGLAND
Accountants
Monroe Accountants Ltd
21 Ropery Walk
Pocklington
York
YO42 2BF
Npowered Limited
Statement of financial position
as at 29 February 2024
Tangible assets
4,841
2,684
Cash at bank and in hand
13,751
6,706
Creditors: amounts falling due within one year
(1,027)
(1,065)
Net current assets
17,026
13,403
Total assets less current liabilities
21,867
16,087
Provisions for liabilities
Called up share capital
1,000
1,000
Profit and loss account
19,946
14,576
Shareholders' funds
20,946
15,576
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2024 and were signed on its behalf by
Professor Robert Lewin
Director
Company Registration No. 04382206
Npowered Limited
Notes to the Accounts
for the year ended 29 February 2024
Npowered Limited is a private company, limited by shares, registered in England and Wales, registration number 04382206. The registered office is 21 ROPERY WALK, POCKLINGTON, YORK, YO42 2BF, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash & Cash Equivalents are basic financial assets and include cash in hand, deposits held at call with banks other short term investments with original maturities of 3 months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Npowered Limited
Notes to the Accounts
for the year ended 29 February 2024
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit & loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
21,234
6,546
27,780
Disposals
(624)
(2,357)
(2,981)
At 29 February 2024
25,733
4,189
29,922
At 1 March 2023
19,731
5,365
25,096
Charge for the year
1,844
900
2,744
On disposals
(402)
(2,357)
(2,759)
At 29 February 2024
21,173
3,908
25,081
At 29 February 2024
4,560
281
4,841
At 28 February 2023
1,503
1,181
2,684
Amounts falling due within one year
Accrued income and prepayments
12
370
Npowered Limited
Notes to the Accounts
for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
849
956
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
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Average number of employees
During the year the average number of employees was 0 (2023: 0).