Roshe Power Ltd - Period Ending 2016-12-31
Roshe Power Ltd - Period Ending 2016-12-31
Registration number:
Roshe Power Ltd
for the Year Ended 31 December 2016
Roshe Power Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Roshe Power Ltd
Company Information
Directors |
Mr Shemi Akdogan Mrs Danica Akdogan |
Company secretary |
Mrs Danica Akdogan |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Roshe Power Ltd
for the Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Roshe Power Ltd for the year ended 31 December 2016 as set out on pages 3 to 8 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/gb/en/discover/public -value/rulebook.html.
This report is made solely to the Board of Directors of Roshe Power Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Roshe Power Ltd and state those matters that we have agreed to state to the Board of Directors of Roshe Power Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical -activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roshe Power Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Roshe Power Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Roshe Power Ltd. You consider that Roshe Power Ltd 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 accounts of Roshe Power Ltd. 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 accounts.
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Chartered Certified Accountants
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN
Page 2 |
Roshe Power Ltd
(Registration number: 02617290)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
Roshe Power Ltd
(Registration number: 02617290)
Balance Sheet as at 31 December 2016
Approved and authorised by the
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Mr Shemi Akdogan
Director
Page 4 |
Roshe Power Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Unit 6B
Dominion Business Park
Goodwin Road
Edmonton
N9 0BG
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Office equipment |
15% reducing balance |
Page 5 |
Roshe Power Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
Roshe Power Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Stocks |
2016 |
2015 |
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Other inventories |
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Debtors |
2016 |
2015 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Page 7 |
Roshe Power Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Dividends |
Final dividends paid
2016 |
2015 |
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Final dividend of £ |
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Related party transactions |
Summary of transactions with other related parties
Total purchases from Avel Lindberg 2002 Ltd in the year were as follows:
Expenditure with and payables to related parties
2016 |
Other related parties |
Purchase of goods |
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2015 |
Other related parties |
Purchase of goods |
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Transition to FRS 102 |
Page 8 |