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REGISTERED NUMBER: 03733130 (England and Wales)















ABILITY POWER LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024






ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




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 2024







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 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 201,736 133,649

CURRENT ASSETS
Stocks 60,694 -
Debtors 5 719,485 384,064
Cash at bank 180,956 557,365
961,135 941,429
CREDITORS
Amounts falling due within one year 6 413,475 311,699
NET CURRENT ASSETS 547,660 629,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

749,396

763,379

CREDITORS
Amounts falling due after more than one year 7 (44,861 ) (77,687 )

PROVISIONS FOR LIABILITIES (13,097 ) (9,089 )
NET ASSETS 691,438 676,603

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 691,338 676,503
SHAREHOLDERS' FUNDS 691,438 676,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 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 2024

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

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 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 74,043 59,471 19,104
Additions - 94,300 1,550
At 31 December 2024 74,043 153,771 20,654
DEPRECIATION
At 1 January 2024 1,816 29,402 14,708
Charge for year 1,481 18,656 894
At 31 December 2024 3,297 48,058 15,602
NET BOOK VALUE
At 31 December 2024 70,746 105,713 5,052
At 31 December 2023 72,227 30,069 4,396

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 81,243 19,640 253,501
Additions - 204 96,054
At 31 December 2024 81,243 19,844 349,555
DEPRECIATION
At 1 January 2024 55,516 18,410 119,852
Charge for year 6,433 503 27,967
At 31 December 2024 61,949 18,913 147,819
NET BOOK VALUE
At 31 December 2024 19,294 931 201,736
At 31 December 2023 25,727 1,230 133,649

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 690,138 377,564
Other debtors 29,347 6,500
719,485 384,064

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 20,402 -
Trade creditors 217,551 53,993
Taxation and social security 148,751 145,869
Other creditors 26,771 111,837
413,475 311,699

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 44,861 77,687

ABILITY POWER LIMITED (REGISTERED NUMBER: 03733130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
I M Lavis and I M Lavis
Balance outstanding at start of year - 20,000
Amounts repaid - (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

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 £14,749 (2023 £14,620) for the use of Old Hakin Road.

During the year the directors made funds available to the company to assist 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 £61 (2023 £46,013).