Company Registration No. 07315910 (England and Wales)
CORNWALL POWER LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2016
CORNWALL POWER LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CORNWALL POWER LIMITED
ABBREVIATED BALANCE SHEET - UNAUDITED
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,089
9,523
Current assets
Debtors
9
10,183
Cash at bank and in hand
526
2,702
535
12,885
Creditors: amounts falling due within one year
(63,055)
(63,074)
Net current liabilities
(62,520)
(50,189)
Total assets less current liabilities
(61,431)
(40,666)
(61,431)
(40,666)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(61,433)
(40,668)
Shareholders' funds
(61,431)
(40,666)
For the financial Period ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;
-
The director acknowledges his 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 17 December 2016
Mr A Williams
Director
Company Registration No. 07315910
CORNWALL POWER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED
FOR THE PERIOD ENDED 31 OCTOBER 2016
- 2 -
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
Turnover
Turnover represents amounts receivable for the installation of solar arrays. The turnover and loss before taxation are attributable to the one principal activity of the company, all of which arises in the United Kingdom ..
1.3
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
33.33% per annum on the straight line method and 15% per annum on the reducing balance method.
Website
33.33% per annum on the straight line method.
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
18,223
Disposals
(10,279)
At 31 October 2016
7,944
Depreciation
At 1 August 2015
8,700
On disposals
(2,910)
Charge for the period
1,065
At 31 October 2016
6,855
Net book value
At 31 October 2016
1,089
At 31 July 2015
9,523
CORNWALL POWER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2
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