Company Registration No. 5215709 (England and Wales)
Michael Watkinson Ltd
Unaudited accounts
for the year ended 31 March 2017
Michael Watkinson Ltd
Unaudited accounts
Contents
Michael Watkinson Ltd
Company Information
for the year ended 31 March 2017
Company Number
5215709 (England and Wales)
Registered Office
SUNNYSIDE BARN
LITHERSKEW SEDBUSK
HAWES
NORTH YORKSHIRE
DL8 3PZ
Accountants
Farm View Accountancy Ltd
Unit 1, Market Weighton Business Centre
York Road
Market Weighton
East Yorkshire
YO43 3GL
Michael Watkinson Ltd
Statement of financial position
as at
31 March 2017
Tangible assets
19,680
16,480
Cash at bank and in hand
12,892
9,717
Creditors: amounts falling due within one year
(36,359)
(41,231)
Net current liabilities
(18,214)
(14,659)
Called up share capital
100
100
Profit and loss account
1,366
1,721
Shareholders' funds
1,466
1,821
For the year ending 31 March 2017 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 8 November 2017.
M Watkinson
Director
Company Registration No. 5215709
Michael Watkinson Ltd
Notes to the Accounts
for the year ended 31 March 2017
Michael Watkinson Ltd is a private company, limited by shares, registered in England and Wales, registration number 5215709. The registered office and principal place of business is SUNNYSIDE BARN, LITHERSKEW SEDBUSK, HAWES, NORTH YORKSHIRE, DL8 3PZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on a reducing balance
Motor vehicles
25% on a reducing balance
Michael Watkinson Ltd
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2016
38,517
27,150
65,667
At 31 March 2017
46,699
27,150
73,849
At 1 April 2016
23,167
26,020
49,187
Charge for the year
4,702
280
4,982
At 31 March 2017
27,869
26,300
54,169
At 31 March 2017
18,830
850
19,680
At 31 March 2016
15,350
1,130
16,480
Trade debtors
4,853
13,501
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
476
3,546
Taxes and social security
2,779
9,229
Loans from directors
32,259
27,028
8
Average number of employees
During the year the average number of employees was 3 (2016: 3).