Powersport Limited - Abbreviated accounts 16.1
Powersport Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2015 |
| for |
| Powersport Limited |
| Powersport Limited (Registered number: 04243295) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Certified Accountants' Report | 5 |
| Powersport Limited |
| Company Information |
| for the Year Ended 31 December 2015 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Powersport Limited (Registered number: 04243295) |
| Abbreviated Balance Sheet |
| 31 December 2015 |
| 31.12.15 | 31.12.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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 financial statements were approved by the director on |
| Powersport Limited (Registered number: 04243295) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis as the director anticipates that the company will |
| continue to be profitable in the year ended 31 December 2016. The director will also continue to provide financial support |
| to the company. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover comprises the invoiced value of goods and services supplied by the company net of discounts and value added |
| tax. Turnover is recognised upon completion of a sale. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| 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 |
| At 1 January 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2015 |
| DEPRECIATION |
| At 1 January 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| Powersport Limited (Registered number: 04243295) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
| value: | £ | £ |
| ordinary | £1 |
| Chartered Certified Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Powersport Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited |
| financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) 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 Powersport Limited for the year ended 31 December 2015 which comprise the Profit and Loss Account, the Balance |
| Sheet, and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of Powersport Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powersport Limited and state those matters that we have agreed to state to the director of Powersport Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that Powersport 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 Powersport Limited. You consider that Powersport 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 Powersport 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. |
| Chartered Certified Accountants |
| 14 September 2016 |