Michael Welsh Limited - Accounts to registrar (filleted) - small 23.2.5
Michael Welsh Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2023 |
| for |
| Michael Welsh Limited |
| Michael Welsh Limited (Registered number: 04464177) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Michael Welsh Limited |
| Company Information |
| for the Year Ended 31 August 2023 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Printworks |
| 65 Church Street |
| Littleborough |
| Lancashire |
| OL15 8AB |
| Michael Welsh Limited (Registered number: 04464177) |
| Statement of Financial Position |
| 31 August 2023 |
| 31.8.23 | 31.8.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| Michael Welsh Limited (Registered number: 04464177) |
| Statement of Financial Position - continued |
| 31 August 2023 |
| 31.8.23 | 31.8.22 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Michael Welsh Limited (Registered number: 04464177) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2023 |
| 1. | STATUTORY INFORMATION |
| Michael Welsh Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 statement of financial position date. |
| Michael Welsh Limited (Registered number: 04464177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Michael Welsh Limited (Registered number: 04464177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.23 | 31.8.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| Michael Welsh Limited (Registered number: 04464177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.23 | 31.8.22 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes | ( |
) |
| VAT | - | 12,838 |
| Other creditors |
| Directors' loan accounts | 48,374 | 24,242 |
| Accruals & Deferred Income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.23 | 31.8.22 |
| £ | £ |
| Hire purchase contracts |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.8.23 | 31.8.22 |
| £ | £ |
| Deferred tax | 26,942 | 15,805 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2022 |
| Provided during year |
| Balance at 31 August 2023 |
| Michael Welsh Limited (Registered number: 04464177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2022 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2023 |