William Howard & Son (Stockport) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01169475 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

WILLIAM HOWARD & SON (STOCKPORT) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr L Wichers

Mrs C Wichers

SECRETARY:

Mrs C Wichers

REGISTERED OFFICE:

Howard Buildings

Christie Street

Stockport

Cheshire

SK1 4LR

REGISTERED NUMBER:

01169475 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Yorkshire Bank

34 Princes Street

Stockport

SK1 1RE

FIXED ASSETS

Tangible assets

4

5,858

7,580

CURRENT ASSETS

Stocks

250

300

Debtors

5

21,842

39,041

Cash at bank

373

1,372

22,465

40,713

CREDITORS

Amounts falling due within one year

6

46,320

52,430

NET CURRENT LIABILITIES

(23,855

)

(11,717

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,997

)

(4,137

)

CREDITORS

Amounts falling due after more than one year

7

343

2,338

NET LIABILITIES

(18,340

)

(6,475

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(18,342

)

(6,477

)

(18,340

)

(6,475

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 30 December 2019 and were signed on its behalf by:

Mr L Wichers - Director

1.	STATUTORY INFORMATION

William Howard & Son (Stockport) Limited 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.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration

in exchange for its performance of its obligations under the sales contract with the customer. The amount

reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual

arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2018

and 31 May 2019

13,206

13,333

20,269

46,808

DEPRECIATION

At 1 June 2018

12,710

12,109

14,409

39,228

Charge for year

74

183

1,465

1,722

At 31 May 2019

12,784

12,292

15,874

40,950

NET BOOK VALUE

At 31 May 2019

422

1,041

4,395

5,858

At 31 May 2018

496

1,224

5,860

7,580

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2018

and 31 May 2019

5,995

DEPRECIATION

At 1 June 2018

1,499

Charge for year

1,124

At 31 May 2019

2,623

NET BOOK VALUE

At 31 May 2019

3,372

At 31 May 2018

4,496

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

17,930

34,613

Other debtors

3,912

4,428

21,842

39,041

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

3,823

160

Hire purchase contracts

1,995

1,995

Trade creditors

17,700

26,474

Taxation and social security

11,593

13,690

Other creditors

11,209

10,111

46,320

52,430

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts

343

2,338

8.	BASIS OF PREPARATION

The financial statements have been prepared on a going concern basis, the applicability of which is dependent

upon the continued support of its director and shareholders. At the balance sheet date, the company had net

liabilities of £18,340 and reported a of loss £11,865. In the opinion of the director, the company has the support

of its shareholders for the foreseeable future and it is therefore appropriate to adopt the going concern basis.