Budget Power & Energy Limited - Limited company - abbreviated

REGISTERED NUMBER: 00494552

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2014

for

Budget Power & Energy Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Bailey

J Shinton

SECRETARY:

J Shinton

REGISTERED OFFICE:

Nagington Grange

Childs Ercall

Market Drayton

Shropshire

TF9 2TW

REGISTERED NUMBER:

00494552

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Tangible assets

2

866,300

847,150

Investments

3

140,930

1,007,230

988,080

CURRENT ASSETS

Debtors

50,062

58,620

Cash at bank

20,150

13,499

70,212

72,119

CREDITORS

Amounts falling due within one year

4

445,137

434,070

NET CURRENT LIABILITIES

(374,925

)

(361,951

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

632,305

626,129

CREDITORS

Amounts falling due after more than one
year

4

26,682

34,981

NET ASSETS

605,623

591,148

CAPITAL AND RESERVES

Called up share capital

5

26,000

Revaluation reserve

167,000

Profit and loss account

412,623

398,148

SHAREHOLDERS' FUNDS

605,623

591,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 December 2014 and were signed on its behalf
by:

R Bailey - Director

1.	ACCOUNTING POLICIES

Going concern

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

The company has net current liabilities of £374,925. The shareholder has confirmed to the directors, in writing,

that he will continue to support the operations of the company for the foreseeable future to enable it to continue

as a going concern. On the basis of this support the directors consider it appropriate to prepare the accounts on a

going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2013

850,285

Additions

19,250

At 30 June 2014

869,535

DEPRECIATION

At 1 July 2013

3,135

Charge for year

100

At 30 June 2014

3,235

NET BOOK VALUE

At 30 June 2014

866,300

At 30 June 2013

847,150

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2013

and 30 June 2014

140,930

NET BOOK VALUE

At 30 June 2014

140,930

At 30 June 2013

140,930

4.

CREDITORS

Creditors include an amount of £ 34,981 (30.6.13 - £ 43,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

1,000

Ordinary

£1.00

1,000

25,000

Deferred

£1.00

25,000

26,000

Budget Power & Energy Limited - Limited company - abbreviated - 11.6

Budget Power & Energy Limited - Limited company - abbreviated - 11.6