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07210230
2015-03-31
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2014-04-01
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uk-bus:Director1
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uk-gaap:PlantMachinery
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iso4217:GBP
| Karl Watson Contracting Limited |
For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07210230
2
Karl Watson Contracting Limited
For the year ended 31 March 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Accountants' Report
For the year ended 31 March 2015
Karl Watson Contracting Limited
| As described on the balance sheet you are responsible for the preparation of the financial |
| statements for the year ended 31 March 2015 and you consider that the company is exempt from an |
| audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in |
| order to assist you to fulfil your statutory responsibilities, from the accounting records and |
| information and explanations supplied to us. |
R H BALL AND CO
1317 MELTON ROAD
SYSTON
LEICESTER
LE7 2EN
1 of 4
4
| Abbreviated Balance Sheet |
Karl Watson Contracting Limited
2015
2014
2
187,500
200,000
3
53,831
62,765
241,331
262,765
1,777,015
1,296,000
296,488
973,535
200,052
16,744
2,469,587
2,090,247
| Creditors: amounts falling due within one year |
(1,791,749)
(2,367,929)
298,498
101,658
Net current assets
| Total assets less current liabilities |
342,989
561,263
342,989
Net assets
404,342
100
100
342,889
404,242
342,989
404,342
Shareholders funds
| For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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 in accordance with the provisions applicable to companies subject to the small companies regime. |
| Date approved by the board: 20 May 2015 |
| Mr Karl Adrian Watson Director |
| Signed on behalf of the board of directors |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
For the year ended 31 March 2015
Karl Watson Contracting Limited
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Rentals payable under operating leases are charged against income on a straight line basis over the |
| lease term. |
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has |
| been approved by the shareholders prior to the balance sheet date. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis |
| over the estimated expected useful economic life of the goodwill of 20 years. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all |
| the risks and rewards of ownership have passed to the company, are included in the appropriate |
| category of tangible fixed assets and depreciated over the shorter of the lease term and their |
| estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to |
| future periods. |
3 of 4
6
| Notes to the Abbreviated Financial Statements |
For the year ended 31 March 2015
Karl Watson Contracting Limited
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| 2 Intangible fixed assets |
250,000
250,000
50,000
12,500
Charge for year
62,500
187,500
200,000
130,363
14,801
(13,100)
132,064
67,598
(7,574)
18,209
Charge for year
78,233
53,831
62,765
4 of 4
