Elite Power Transmissions Limited Micro-entity accounts

Elite Power Transmissions Limited Micro-entity accounts


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COMPANY REGISTRATION NUMBER: 07668246
Elite Power Transmissions Limited
Filleted Unaudited Financial Statements
31 May 2017
Elite Power Transmissions Limited
Financial Statements
Year ended 31 May 2017
Contents
Page
Officers and professional advisers
1
Statement of financial position and the notes to the financial statements
2
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
5
Elite Power Transmissions Limited
Officers and Professional Advisers
The board of directors
R Brown
R Banks
A J White
A Goodrum
Company secretary
Mrs C White
Registered office
Sportsman Farm
St Michaels
Tenterden
Kent
TN30 6SY
Accountants
David Payne
Chartered Accountants
Sportsman Farm
St Michaels
Tenterden
Kent
TN30 6SY
Bankers
Santander
301 St Vincent Street
Glasgow
G2 5NT
Elite Power Transmissions Limited
Statement of Financial Position
31 May 2017
2017
2016
(restated)
£
£
£
Fixed assets
30,313
37,974
--------
--------
Current assets
199,907
213,346
Creditors: amounts falling due within one year
227,489
240,195
---------
---------
Net current liabilities
( 27,582)
( 26,849)
--------
--------
Total assets less current liabilities
2,731
11,125
Accruals and deferred income
960
1,450
-------
--------
1,771
9,675
-------
--------
Capital and reserves
1,771
9,675
-------
-------
Notes to the financial statements
1. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R Brown
( 56,743)
( 18,167)
( 74,910)
R Banks
1,278
( 2,316)
( 1,038)
A J White
( 61,263)
( 17,298)
( 78,561)
A Goodrum
27,808
( 2,483)
25,325
--------
--------
---------
( 88,920)
( 40,264)
( 129,184)
--------
--------
---------
2016
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R Brown
( 37,596)
( 19,147)
( 56,743)
R Banks
( 1,483)
2,762
1,279
A J White
( 33,063)
( 28,201)
(61,264)
A Goodrum
9,201
18,607
27,808
--------
--------
--------
( 62,941)
( 25,979)
( 88,920)
--------
--------
--------
For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 22 November 2017 , and are signed on behalf of the board by:
A J White
Director
Company registration number: 07668246
The company is a private company limited by shares, registered in England and Wales.
Elite Power Transmissions Limited
Management Information
Year ended 31 May 2017
The following pages do not form part of the financial statements.
Elite Power Transmissions Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Elite Power Transmissions Limited
Year ended 31 May 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elite Power Transmissions Limited for the year ended 31 May 2017, which comprise the statement of financial position and the notes to the financial statements from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Elite Power Transmissions Limited, as a body, in accordance with the terms of our engagement letter dated 31 March 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Elite Power Transmissions Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elite Power Transmissions Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Elite Power Transmissions 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 Elite Power Transmissions Limited. You consider that Elite Power Transmissions 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 Elite Power Transmissions 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.
David Payne Chartered Accountants
Sportsman Farm St Michaels Tenterden Kent TN30 6SY
22 November 2017