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REGISTERED NUMBER: 07166486















POWERCUT (WALES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWERCUT (WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: Mr M W E Rees
Mrs. L Rees
Mr S Brown





SECRETARY:





REGISTERED OFFICE: Oaklands mansion
Cwmffrwd
Carmarthen
SA31 2ND





REGISTERED NUMBER: 07166486





ACCOUNTANTS: Peter Wilkins & Co.
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 475,357 522,892
Tangible assets 5 591,354 582,106
1,066,711 1,104,998

CURRENT ASSETS
Stocks 1,497,282 1,461,173
Debtors 6 470,013 213,990
Prepayments and accrued income 130,318 119,708
Cash at bank and in hand 271,699 596,587
2,369,312 2,391,458
CREDITORS
Amounts falling due within one year 7 1,487,311 1,738,591
NET CURRENT ASSETS 882,001 652,867
TOTAL ASSETS LESS CURRENT LIABILITIES 1,948,712 1,757,865

CREDITORS
Amounts falling due after more than one year 8 879,471 712,728
NET ASSETS 1,069,241 1,045,137

CAPITAL AND RESERVES
Called up share capital 9,900 9,900
Retained earnings 1,059,341 1,035,237
SHAREHOLDERS' FUNDS 1,069,241 1,045,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd July 2024 and were signed on its behalf by:





Mr M W E Rees - Director


POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Powercut (Wales) Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 Statement of Income and Retained Earnings, 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.

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 23 (2023 - 22 ) .

POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 950,707
AMORTISATION
At 1st March 2023 427,815
Amortisation for year 47,535
At 29th February 2024 475,350
NET BOOK VALUE
At 29th February 2024 475,357
At 28th February 2023 522,892

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st March 2023 450,409 159,278 159,748 80,172 849,607
Additions - - 81,945 625 82,570
Disposals - - (17,490 ) - (17,490 )
At 29th February 2024 450,409 159,278 224,203 80,797 914,687
DEPRECIATION
At 1st March 2023 36,023 97,076 75,506 58,896 267,501
Charge for year 9,008 15,550 40,600 4,380 69,538
Eliminated on disposal - - (13,706 ) - (13,706 )
At 29th February 2024 45,031 112,626 102,400 63,276 323,333
NET BOOK VALUE
At 29th February 2024 405,378 46,652 121,803 17,521 591,354
At 28th February 2023 414,386 62,202 84,242 21,276 582,106

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 469,465 208,169
Other debtors 548 5,821
470,013 213,990

POWERCUT (WALES) LIMITED (REGISTERED NUMBER: 07166486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,640 23,800
Hire purchase contracts 16,309 3,753
Trade creditors 1,087,958 1,369,349
Taxation and social security 90,480 74,258
Other creditors 271,924 267,431
1,487,311 1,738,591

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 163,065 177,405
Hire purchase contracts 73,123 22,647
Other creditors 643,283 512,676
879,471 712,728

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 94,732 95,972