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Company Registration No. NI656601 (Northern Ireland)
Bann Power Limited Unaudited accounts for the year ended 31 October 2024
Bann Power Limited Unaudited accounts Contents
Page
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Bann Power Limited Company Information for the year ended 31 October 2024
Director
David Woodend
Company Number
NI656601 (Northern Ireland)
Registered Office
Unit 2 Channel Wharf 21 Old Channel Road Belfast BT3 9DE
Accountants
PGR Chartered Accountants Unit 2 Channel Wharf 21 Old Channel Road Belfast Antrim BT3 9DE
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Bann Power Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
63,786 
92,947 
Current assets
Inventories
23,000 
23,000 
Debtors
136,360 
78,718 
Cash at bank and in hand
17,480 
8,408 
176,840 
110,126 
Creditors: amounts falling due within one year
(133,972)
(82,160)
Net current assets
42,868 
27,966 
Total assets less current liabilities
106,654 
120,913 
Creditors: amounts falling due after more than one year
(36,153)
(52,359)
Net assets
70,501 
68,554 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
70,401 
68,454 
Shareholders' funds
70,501 
68,554 
For the year ending 31 October 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 28 May 2025 and were signed on its behalf by
David Woodend Director Company Registration No. NI656601
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Bann Power Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Bann Power Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI656601. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road , Belfast , BT3 9DE.
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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
Going concern
The director believes that the company Bann Power Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
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 rendering of installation of electrical 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
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Bann Power Limited Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2023
68,934 
96,834 
3,262 
169,030 
Additions
2,800 
- 
915 
3,715 
At 31 October 2024
71,734 
96,834 
4,177 
172,745 
Depreciation
At 1 November 2023
45,068 
29,186 
1,829 
76,083 
Charge for the year
12,980 
18,956 
940 
32,876 
At 31 October 2024
58,048 
48,142 
2,769 
108,959 
Net book value
At 31 October 2024
13,686 
48,692 
1,408 
63,786 
At 31 October 2023
23,866 
67,648 
1,433 
92,947 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
20,000 
20,000 
Finished goods
3,000 
3,000 
23,000 
23,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
104,511 
45,161 
Accrued income and prepayments
- 
208 
Other debtors
31,849 
33,349 
136,360 
78,718 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
58,603 
25,043 
Obligations under finance leases and hire purchase contracts
16,172 
16,987 
Trade creditors
14,012 
7,569 
Taxes and social security
23,373 
12,749 
Loans from directors
16,312 
13,812 
Accruals
5,500 
6,000 
133,972 
82,160 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
36,153 
52,359 
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Bann Power Limited Notes to the Accounts for the year ended 31 October 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
Included in debtors are amounts due from to connected companies of £18,908 (2023: £18,908)
11
Average number of employees
During the year the average number of employees was 2 (2023: 3).
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