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MS POWER PROJECTS LIMITED
REGISTERED NUMBER: 07879885
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2016
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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MS POWER PROJECTS LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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MS POWER PROJECTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
1.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The financial statements do not include a Cash Flow Statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises management fees receivable and costs recharged by the company during the period, in respect of services supplied and recharged costs, exclusive of Value Added Tax and trade discounts.
Revenue is recognised in the period to which it relates.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and Loss Account.
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Page 3
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MS POWER PROJECTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
2.TANGIBLE FIXED ASSETS
3.DEBTORS
Debtors include £NIL (2015 - £11,000) falling due after more than one year.
4.SHARE CAPITAL
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ALLOTTED, CALLED UP AND FULLY PAID
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ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
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The ultimate parent undertaking is MSP Renewable Holdings Limited (formerly Mossolar Limited).
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