Company Registration No. 07481100 (England and Wales)
HV POWER LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
HV POWER LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
HV POWER LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HV POWER LIMITED FOR THE YEAR ENDED 30 APRIL 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HV Power Limited for the year ended 30 April 2016 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of HV Power Limited, as a body, in accordance with the terms of our engagement letter dated 9 April 2015. Our work has been undertaken solely to prepare for your approval the financial statements of HV Power Limited and state those matters that we have agreed to state to the Board of Directors of HV Power Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HV Power Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that HV Power Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of HV Power Limited. You consider that HV Power Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of HV Power Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Trevor Jones & Co
16 June 2016
Chartered Accountants
Old Bank Chambers
582-586 Kingsbury Road
Erdington
Birmingham
B24 9ND
HV POWER LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
87,310
83,232
Current assets
Stocks
10,750
11,175
Debtors
206,926
200,604
Cash at bank and in hand
295,029
226,905
512,705
438,684
Creditors: amounts falling due within one year
(109,321)
(95,513)
Net current assets
403,384
343,171
Total assets less current liabilities
490,694
426,403
Provisions for liabilities
(14,037)
(10,869)
476,657
415,534
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
476,557
415,434
Shareholders' funds
476,657
415,534
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 June 2016
Mr A Wright
Mr B A Thorp
Director
Director
Company Registration No. 07481100
HV POWER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
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1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Computer equipment
30% straight line
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
155,236
Additions
35,844
Disposals
(12,500)
At 30 April 2016
178,580
Depreciation
At 1 May 2015
72,004
On disposals
(6,934)
Charge for the year
26,200
At 30 April 2016
91,270
Net book value
At 30 April 2016
87,310
At 30 April 2015
83,232
HV POWER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100