Registered Number 02586898

ACCEL POWER SUPPLIES LIMITED

Abbreviated Accounts

29 February 2016

ACCEL POWER SUPPLIES LIMITED Registered Number 02586898

Abbreviated Balance Sheet as at 29 February 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,028 1,355
1,028 1,355
Current assets
Stocks 105,815 102,311
Debtors 211,684 190,495
Cash at bank and in hand 24,152 34,819
341,651 327,625
Creditors: amounts falling due within one year (97,249) (131,980)
Net current assets (liabilities) 244,402 195,645
Total assets less current liabilities 245,430 197,000
Provisions for liabilities (20,202) (18,342)
Total net assets (liabilities) 225,228 178,658
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 225,128 178,558
Shareholders' funds 225,228 178,658
  • For the year ending 29 February 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 December 2016

And signed on their behalf by:
Mr G C Whittington, Director
Mr S J Gamblen, Director

ACCEL POWER SUPPLIES LIMITED Registered Number 02586898

Notes to the Abbreviated Accounts for the period ended 29 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT.

Tangible assets depreciation policy
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:

Land and buildings Leasehold Straight line over the term of the lease
Plant and machinery 25% Reducing balance
Fixtures, fittings & equipment 25% Reducing balance
Computer equipment 33.33% Straight line

Other accounting policies
Revenue recognition
Revenue is recognised as completed orders are shipped to customers.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets
£
Cost
At 1 March 2015 321,600
Additions -
Disposals -
Revaluations -
Transfers -
At 29 February 2016 321,600
Depreciation
At 1 March 2015 320,245
Charge for the year 327
On disposals -
At 29 February 2016 320,572
Net book values
At 29 February 2016 1,028
At 28 February 2015 1,355
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100

4Transactions with directors

Name of director receiving advance or credit: Mr S J Gamblen
Description of the transaction: Directors' loan account (debit balance)
Balance at 1 March 2015: £ 238
Advances or credits made: -
Advances or credits repaid: £ 238
Balance at 29 February 2016: £ 0

Name of director receiving advance or credit: Mr G C Whittington
Description of the transaction: Directors' loan account (debit balance)
Balance at 1 March 2015: £ 238
Advances or credits made: -
Advances or credits repaid: £ 238
Balance at 29 February 2016: £ 0