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REGISTERED NUMBER: 03733130 (England and Wales)










ABILITY POWER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ABILITY POWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: I M Lavis
Mrs P J Lavis





SECRETARY: Mrs P J Lavis





REGISTERED OFFICE: Old Hakin Road
Merlins Bridge
Haverfordwest
Pembrokeshire
SA61 1XE





REGISTERED NUMBER: 03733130 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 133,649 47,219

CURRENT ASSETS
Debtors 5 384,064 340,660
Cash at bank 557,365 373,014
941,429 713,674
CREDITORS
Amounts falling due within one year 6 311,699 144,784
NET CURRENT ASSETS 629,730 568,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,379

616,109

CREDITORS
Amounts falling due after more than one
year

7

(77,687

)

(109,434

)

PROVISIONS FOR LIABILITIES (9,089 ) (5,647 )
NET ASSETS 676,603 501,028

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 676,503 500,928
SHAREHOLDERS' FUNDS 676,603 501,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 22 August 2024 and were signed on its behalf by:




I M Lavis - Director



Mrs P J Lavis - Director


ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Ability Power 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.
Improvements to property - 2% on cost
Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 3,351 55,026 18,525
Additions 70,692 4,445 579
At 31 December 2023 74,043 59,471 19,104
DEPRECIATION
At 1 January 2023 335 24,095 13,933
Charge for year 1,481 5,307 775
At 31 December 2023 1,816 29,402 14,708
NET BOOK VALUE
At 31 December 2023 72,227 30,069 4,396
At 31 December 2022 3,016 30,931 4,592

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 55,493 18,083 150,478
Additions 25,750 1,557 103,023
At 31 December 2023 81,243 19,640 253,501
DEPRECIATION
At 1 January 2023 46,939 17,957 103,259
Charge for year 8,577 453 16,593
At 31 December 2023 55,516 18,410 119,852
NET BOOK VALUE
At 31 December 2023 25,727 1,230 133,649
At 31 December 2022 8,554 126 47,219

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 377,564 306,914
Other debtors 6,500 33,746
384,064 340,660

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 53,993 11,603
Taxation and social security 145,869 128,946
Other creditors 111,837 4,235
311,699 144,784

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 77,687 109,434

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
I M Lavis and I M Lavis
Balance outstanding at start of year 20,000 42,297
Amounts advanced - 33,084
Amounts repaid (20,000 ) (55,381 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 20,000

Interest has been added at the applicable rate.

9. RELATED PARTY DISCLOSURES

The company has the use of premises owned by the directors, Mr and Mrs Lavis. During the year the company paid rent of £14,620 (2022 £13,365) for the use of Old Hakin Road.

During the year the directors made funds available to the company to assisst with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £46,013.