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Powerail Engineering Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 03652753
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 462 5,025
462 5,025
CURRENT ASSETS
Debtors 5 56,512 76,513
Cash at bank and in hand 8,584 1,141
65,096 77,654
Creditors: Amounts Falling Due Within One Year (43,765 ) (52,941 )
NET CURRENT ASSETS (LIABILITIES) 21,331 24,713
TOTAL ASSETS LESS CURRENT LIABILITIES 21,793 29,738
Creditors: Amounts Falling Due After More Than One Year (20,118 ) (26,174 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,243 )
NET ASSETS 1,675 321
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 1,575 221
SHAREHOLDERS' FUNDS 1,675 321
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Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 November 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Robert Power
Director
27 August 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Powerail Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03652753 . The registered office is 2 Mountside, Stanmore, Middlesex, HA7 2DT.
The presentation currency of the financial statements is the Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Total
£
Cost
As at 1 December 2023 56,589
Disposals (17,785 )
As at 30 November 2024 38,804
Depreciation
As at 1 December 2023 51,564
Provided during the period 116
Disposals (13,338 )
As at 30 November 2024 38,342
Net Book Value
As at 30 November 2024 462
As at 1 December 2023 5,025
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 4,447
5. Debtors
2024 2023
£ £
Due after more than one year
Other debtors 11,949 11,949
6. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 12,431
Bank loans and overdrafts 10,466 21,890
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Robert Power 44,998 76,949 82,267 - 39,680
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