Powerwood Ltd Accounts

LITTLE OAKTREE LTD - Company Information






Powerwood Ltd

	Company No. 08914245
		Information for Filing with The Registrar
		28 February 2019

at	28 February 2019
Company No.		08914245	Notes	2019	2018
				£	£
Fixed assets



	Investments		2	115	114
				115	114
Current assets

	Debtors		3	29,470,786	145,024

	Cash at bank and in hand			-	3,727
				29,470,786	148,751
Creditors: Amount falling due within one year			4	(10,457,695)	(257,633)
Net current assets/(liabilities)				19,013,091	(108,882)
Total assets less current liabilities				19,013,206	(108,768)




Net assets/(liabilities)				19,013,206	(108,768)

Capital and reserves
	Called up share capital			1,047	1,047

	Revaluation reserve		5	19,677,974	-

	Profit and loss account		5	(665,815)	(109,815)

Total equity				19,013,206	(108,768)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 28 February 2019 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 11 November 2019
And signed on its behalf by:
D.A. Peters
Director

for the year ended 28 February 2019

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Investments
			Investment in Subsidiaries	Total
			£	£
		Cost or valuation
		At 1 March 2018	113	113

		Revaluation	2	2

		At 28 February 2019	115	115






		Net book values
		At 28 February 2019	115	115
		At 28 February 2018	113	113

3	Debtors
			2019	2018
			£	£

		Amounts owed by group undertakings	29,470,786	144,022




		Other debtors	-	1,002

			29,470,786	145,024

4	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	-	3
		Other loans	3,015,417	-

		Trade creditors	156,000	15,773




		Other creditors	6,886,277	241,855
		Accruals and deferred income	400,001	2
			10,457,695	257,633

5	Reserves
			Revaluation Reserve	Total other reserves
			£	£





		Movement on revaluation reserve	19,677,974	19,677,974


		At 28 February 2019	19,677,974	19,677,974

		Revaluation reserve - reflects the revaluation of property other than investment properties.


		Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

2019

Transactions with related parties

Name of related party

Power Wood Canada Corp.

Description of relationship between the parties

Subsidiary

Amount due from/(to) the related party

5,169,229

Name of related party

La Crete 1 PW Canada Corp.

Description of relationship between the parties

Subsidiary

Amount due from/(to) the related party

24,301,557

Additional information

Its registered number is:

08914245

7th Floor, Hanover Square

London

W1S 1HS