LW Watches Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11387762 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2020

for

LW Watches Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T J L Haggar

SECRETARY:

REGISTERED OFFICE:

Office 4

219 Kensington High Street

Kensington

London

W8 6BD

REGISTERED NUMBER:

11387762 (England and Wales)

ACCOUNTANT:

Lucy Jo Hughes FCA

85 Queen Street

Pembroke Dock

Pembrokeshire

SA72 6JE

FIXED ASSETS

Tangible assets

4

3,824

2,019

CURRENT ASSETS

Stocks

272,940

192,000

Debtors

5

115,776

58

Cash at bank

26,262

90,989

414,978

283,047

CREDITORS

Amounts falling due within one year

6

45,514

17,915

NET CURRENT ASSETS

369,464

265,132

TOTAL ASSETS LESS CURRENT LIABILITIES

373,288

267,151

CREDITORS

Amounts falling due after more than one year

7

340,000

240,000

NET ASSETS

33,288

27,151

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

33,188

27,051

33,288

27,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 June 2020 and were signed by:

T J L Haggar - Director

1.	STATUTORY INFORMATION

LW Watches 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.

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.

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

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

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

2,527

Additions

3,081

At 31 May 2020

5,608

DEPRECIATION

At 1 June 2019

508

Charge for year

1,276

At 31 May 2020

1,784

NET BOOK VALUE

At 31 May 2020

3,824

At 31 May 2019

2,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

112,723

-

Other debtors

3,053

58

115,776

58

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Taxation and social security

12,280

12,717

Other creditors

33,234

5,198

45,514

17,915

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans

50,000

-

Other creditors

290,000

240,000

340,000

240,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

290,000

-

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-