McKnight & Davis Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10307600 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

McKnight & Davis Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J McKnight

J Davis

REGISTERED OFFICE:

71-75 Shelton Street

Covent Garden

London

WC2H 9JQ

REGISTERED NUMBER:

10307600 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

City of Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

3

454,697

460,516

CURRENT ASSETS

Debtors

4

5,291

6,603

Cash at bank

1,595

213

6,886

6,816

CREDITORS

Amounts falling due within one year

5

504,844

503,809

NET CURRENT LIABILITIES

(497,958

)

(496,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(43,261

)

(36,477

)

CAPITAL AND RESERVES

Called up share capital

6

200

200

Retained earnings

7

(43,461

)

(36,677

)

SHAREHOLDERS' FUNDS

(43,261

)

(36,477

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 September 2019 and were signed on its behalf by:

J Davis - Director

1.	STATUTORY INFORMATION

McKnight & Davis Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts have been prepared on the going concern basis, on the understanding that the directors and

shareholders will continue to financially support the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST

At 1 January 2018

368,000

99,424

9,810

477,234

Additions

-

-

5,664

5,664

At 31 December 2018

368,000

99,424

15,474

482,898

DEPRECIATION

At 1 January 2018

10,427

2,817

3,474

16,718

Charge for year

7,360

1,988

2,135

11,483

At 31 December 2018

17,787

4,805

5,609

28,201

NET BOOK VALUE

At 31 December 2018

350,213

94,619

9,865

454,697

At 31 December 2017

357,573

96,607

6,336

460,516

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Tax

5,291

6,603

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

364,368

364,368

Directors' current accounts

140,476

139,441

504,844

503,809

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

200

Ordinary

£1

200

200

7.

RESERVES

Retained

earnings

£

At 1 January 2018

(36,677

)

Deficit for the year

(6,784

)

At 31 December 2018

(43,461

)

8.	GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and

shareholders will continue to financially support the company.