Meshpower Limited
Unaudited Abbreviated Accounts
For the Year ended 31 December 2015
Company Registration No. 08103342 (England and Wales)
Meshpower Limited
Contents
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
Meshpower Limited
Abbreviated Balance Sheet
As at 31 December 2015
Page 1
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,081
5,379
Investments
2
21,295
21,295
38,376
26,674
Current assets
Stocks
45,831
-
Debtors
202,645
83,797
Cash at bank and in hand
122,397
41,469
370,873
125,266
Creditors: amounts falling due within one year
(44,337)
(6,242)
Net current assets
326,536
119,024
Total assets less current liabilities
364,912
145,698
Creditors: amounts falling due after more than one year
(194,621)
-
170,291
145,698
Capital and reserves
Called up share capital
3
295,984
236,681
Share premium account
310,500
157,500
Profit and loss account
(436,193)
(248,483)
Shareholders'  funds
170,291
145,698
Meshpower Limited
Abbreviated Balance Sheet (Continued)
As at 31 December 2015
Page 2
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
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 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 30 September 2016
L Lukoschek
Director
Company Registration No. 08103342
Meshpower Limited
Notes to the Abbreviated Accounts
For the year ended 31 December 2015
Page 3
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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover and profits

Turnover represents amount receivable net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.4
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
4 years straight line
Computer equipment
3 years straight line
Fixtures, fittings & equipment
3 years straight line
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
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.
Meshpower Limited
Notes to the Abbreviated Accounts (Continued)
For the year ended 31 December 2015
Page 4
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
9,334
21,295
30,629
Additions
13,684
-
13,684
At 31 December 2015
23,018
21,295
44,313
Depreciation
At 1 January 2015
3,955
-
3,955
Charge for the period
1,982
-
1,982
At 31 December 2015
5,937
-
5,937
Net book value
At 31 December 2015
17,081
21,295
38,376
At 31 December 2014
5,379
21,295
26,674
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Meshpower India Private Limited
India
Ordinary
99.99
Meshpower Limited
Rwanda
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Meshpower India Private Limited
Dormant
1,012
-
Meshpower Limited
Electricity distribution
(7,779)
(24,339)
Meshpower Limited
Notes to the Abbreviated Accounts (Continued)
For the year ended 31 December 2015
Page 5
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
174,840 Ordinary shares of 10p each
17,484
9,181
150,000 Preference 'A' shares of £1 each
150,000
150,000
128,500 Preference 'B' shares of £1 each
128,500
77,500
295,984
236,681

During the year 83 ,03 4 ordinary shares of 10p each were issued. An amount of £8,303 owed to the company by the shareholders for this issue is included in other debtors.

 

During the year 51,000 £1 preference 'B' shares were issued for cash consideration of £4 each. The preference 'B' shares rank equally with the ordinary and preference 'A' shares as regards to voting and dividend rights but are subordinate to the preference 'A' shares on winding up.

 

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