Newark Hydropower Ltd
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Notes to the Accounts |
for the year ended 30 April 2017
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current assets and liabilities are not discounted.
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2 |
Employees |
2017 |
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2016 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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- |
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3 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Other debtors |
150 |
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750 |
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4 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Trade creditors |
7,202 |
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8,824 |
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Other creditors |
2,375 |
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4,585 |
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9,577 |
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13,409 |
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5 |
Controlling party |
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The company is ultimately controlled by the directors of Hallidays Developments Ltd.
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6 |
Other information |
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Newark Hydropower Ltd is a private company limited by shares and incorporated in England. Its registered and trading office is: |
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5b Queen Street |
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Dorchester-On-Thames |
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Wallingford |
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Oxfordshire |
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OX10 7HR |