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Company Registration No. NI675191 (Northern Ireland)
Wilson Power and Energy Ltd Unaudited accounts for the year ended 31 December 2023
Wilson Power and Energy Ltd Unaudited accounts Contents
Page
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Wilson Power and Energy Ltd Company Information for the year ended 31 December 2023
Directors
Mr A Wilson Mr P Watson
Company Number
NI675191 (Northern Ireland)
Registered Office
73 Listullycurran Road Dromore Co. Down BT25 1RD
Accountants
SJK 8 Bridge Road Moira Co. Armagh BT67 0PF
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Wilson Power and Energy Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,916 
3,556 
Tangible assets
100,204 
48,482 
103,120 
52,038 
Current assets
Inventories
136,096 
10,172 
Debtors
233,269 
367,229 
Cash at bank and in hand
629,277 
307,718 
998,642 
685,119 
Creditors: amounts falling due within one year
(600,815)
(455,713)
Net current assets
397,827 
229,406 
Total assets less current liabilities
500,947 
281,444 
Creditors: amounts falling due after more than one year
- 
(14,000)
Provisions for liabilities
Deferred tax
(25,780)
(9,887)
Net assets
475,167 
257,557 
Capital and reserves
Called up share capital
200 
100 
Profit and loss account
474,967 
257,457 
Shareholders' funds
475,167 
257,557 
For the year ending 31 December 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by
Mr A Wilson Director Company Registration No. NI675191
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Wilson Power and Energy Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Wilson Power and Energy Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI675191. The registered office is 73 Listullycurran Road, Dromore, Co. Down, BT25 1RD.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
18% Reducing balance basis
Motor vehicles
18% Reducing balance basis
Fixtures & fittings
18% Reducing balance basis
Computer equipment
18% Reducing balance basis
Inventories
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
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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Wilson Power and Energy Ltd Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
5,288 
At 31 December 2023
5,288 
Amortisation
At 1 January 2023
1,732 
Charge for the year
640 
At 31 December 2023
2,372 
Net book value
At 31 December 2023
2,916 
At 31 December 2022
3,556 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
4,662 
56,575 
1,735 
3,450 
66,422 
Additions
10,500 
78,167 
- 
- 
88,667 
Disposals
- 
(18,230)
- 
- 
(18,230)
At 31 December 2023
15,162 
116,512 
1,735 
3,450 
136,859 
Depreciation
At 1 January 2023
1,385 
15,164 
337 
1,054 
17,940 
Charge for the year
2,480 
18,833 
253 
430 
21,996 
On disposals
- 
(3,281)
- 
- 
(3,281)
At 31 December 2023
3,865 
30,716 
590 
1,484 
36,655 
Net book value
At 31 December 2023
11,297 
85,796 
1,145 
1,966 
100,204 
At 31 December 2022
3,277 
41,411 
1,398 
2,396 
48,482 
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Wilson Power and Energy Ltd Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
621 
- 
Trade debtors
231,775 
367,229 
Amounts due from group undertakings etc.
873 
- 
233,269 
367,229 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
62,830 
Trade creditors
322,312 
7,987 
Taxes and social security
97,125 
39,851 
Loans from directors
24,644 
44,671 
Accruals
15,365 
4,000 
Deferred income
141,369 
296,374 
600,815 
455,713 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
14,000 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr A Wilson
(41,879)
(75,400)
(82,764)
(34,515)
Mr P Watson
(2,792)
(54,410)
(67,073)
9,871 
(44,671)
(129,810)
(149,837)
(24,644)
Directors loans are repayable on demand and non-interest bearing.
10
Average number of employees
During the year the average number of employees was 4 (2022: 2).
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