Company Registration No. 5215709 (England and Wales)
Michael Watkinson Ltd
Unaudited accounts
for the year ended 31 March 2018
Michael Watkinson Ltd
Unaudited accounts
Contents
Michael Watkinson Ltd
Company Information
for the year ended 31 March 2018
Company Number
5215709 (England and Wales)
Registered Office
SUNNYSIDE BARN
LITHERSKEW SEDBUSK
HAWES
NORTH YORKSHIRE
DL8 3PZ
Accountants
Farm View Accountancy Ltd
First Floor,
14 Market Place
Pocklington
East Yorkshire
YO42 2AR
Michael Watkinson Ltd
Statement of financial position
as at
31 March 2018
Tangible assets
16,305
19,680
Cash at bank and in hand
6,053
12,892
Creditors: amounts falling due within one year
(44,770)
(36,359)
Net current liabilities
(15,157)
(18,214)
Called up share capital
100
100
Profit and loss account
1,048
1,366
Shareholders' funds
1,148
1,466
For the year ending 31 March 2018 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 16 October 2018.
M Watkinson
Director
Company Registration No. 5215709
Michael Watkinson Ltd
Notes to the Accounts
for the year ended 31 March 2018
Michael Watkinson Ltd is a private company, limited by shares, registered in England and Wales, registration number 5215709. The registered office 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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Michael Watkinson Ltd
Notes to the Accounts
for the year ended 31 March 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2017
46,699
27,150
73,849
At 31 March 2018
47,450
27,150
74,600
At 1 April 2017
27,869
26,300
54,169
Charge for the year
3,916
210
4,126
At 31 March 2018
31,785
26,510
58,295
At 31 March 2018
15,665
640
16,305
At 31 March 2017
18,830
850
19,680
Work in progress
15,000
-
Trade debtors
8,180
4,853
7
Creditors: amounts falling due within one year
2018
2017
Trade creditors
6,608
476
Taxes and social security
4,716
2,779
Loans from directors
32,596
32,259
8
Average number of employees
During the year the average number of employees was 2 (2017: 3).