Karl Watson Contracting Limited,Ltd - AccountsLtd - Accounts

Karl Watson Contracting Limited,Ltd - AccountsLtd - Accounts

KARL WATSON CONTRACTING LIMITED - Company Information

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2016-04-01 07210230 2017-03-31 07210230 2016-04-01 2017-03-31 07210230 2016-03-31 07210230 2015-04-01 2016-03-31 07210230 uk-core:WithinOneYear 2016-03-31 07210230 uk-core:WithinOneYear 2017-03-31 07210230 uk-core:AfterOneYear 2016-03-31 07210230 uk-core:AfterOneYear 2017-03-31 07210230 uk-core:ShareCapital 2017-03-31 07210230 uk-core:ShareCapital 2016-03-31 07210230 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 07210230 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 07210230 uk-bus:Director1 2016-04-01 2017-03-31 07210230 uk-core:NetGoodwill 2016-04-01 2017-03-31 07210230 uk-core:PlantMachinery 2016-04-01 2017-03-31 07210230 uk-core:CommercialMotorVehicles 2016-04-01 2017-03-31 07210230 uk-core:FurnitureFittings 2016-04-01 2017-03-31 07210230 uk-core:Goodwill 2016-03-31 07210230 uk-core:Goodwill 2017-03-31 07210230 uk-core:Goodwill 2016-04-01 2017-03-31 07210230 uk-core:FurnitureFittings 2016-03-31 07210230 uk-core:CommercialMotorVehicles 2016-03-31 07210230 uk-core:PlantMachinery 2016-03-31 07210230 uk-core:PlantMachinery 2017-03-31 07210230 uk-core:CommercialMotorVehicles 2017-03-31 07210230 uk-core:FurnitureFittings 2017-03-31 07210230 uk-core:WithinOneYear 2017-03-31 07210230 uk-core:WithinOneYear 2016-03-31 iso4217:GBP 07210230 uk-bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 07210230 uk-bus:FRS102 2016-04-01 2017-03-31 07210230 uk-bus:FullAccounts 2016-04-01 2017-03-31 07210230 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
Karl Watson Contracting Limited
Registered Number:07210230
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2017
Karl Watson Contracting Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 31 March 2017
Karl Watson Contracting Limited
Statement of Financial Position
Registered Number :
07210230
£
£
2016
2017
Notes
Fixed assets
Intangible assets
150,000
175,000
2
Property, plant and equipment
152,441
145,978
3
302,441
320,978
Current assets
Inventories
698,940
(230,458)
Trade and other receivables
1,478,770
2,205,139
4
513,354
Cash and cash equivalents
1,308,363
3,283,044
2,691,064
Trade and other payables: amounts falling due
within one year
(1,938,885)
(1,294,286)
5
752,179
1,988,758
Net current assets
Total assets less current liabilities
2,291,199
1,073,157
Trade and other payables: amounts falling due after
more than one year
-
-
6
2,291,199
Net assets
1,073,157
Capital and reserves
Called up share capital
100
100
Retained earnings
2,291,099
1,073,057
2,291,199
1,073,157
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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 deliver
ed.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
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4
For the year ended 31 March 2017
Karl Watson Contracting Limited
Statement of Financial Position Continued
Mr Karl Adrian Watson Director
These financial statements were approved and authorised for issue by the Board on 26 July 2017 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2017
Karl Watson Contracting Limited
Notes to the Financial Statements
Statutory Information
Karl Watson Contracting Limited is a private limited company, limited by shares, domiciled in England
and Wales, registration number 07210230.
Registered address:
1317 Melton Road
Syston
Leicestershire
LE7 2EN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared
under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 20 years.
Property, plant and equipment
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
25 Reducing balance
25 Reducing balance
Motor vehicles
25 Reducing balance
Fixtures and fittings
Inventories
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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6
For the year ended 31 March 2017
Karl Watson Contracting Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2016
250,000
At 31 March 2017
250,000
Amortisation
At 01 April 2016
75,000
25,000
Charge for year
At 31 March 2017
100,000
Net book value
At 31 March 2017
150,000
At 31 March 2016
175,000
3. Property, plant and equipment
Total
Fixtures and
fittings
Motor
vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 April 2016
253,976
1,455
102,392
150,129
57,376
-
40,626
16,750
Additions
At 31 March 2017
166,879
143,018
1,455
311,352
Provision for depreciation and impairmen
t
At 01 April 2016
107,998
841
35,806
71,351
Charge for year
50,913
153
26,878
23,882
At 31 March 2017
158,911
994
62,684
95,233
At 31 March 2017
Net book value
71,646
80,334
461
152,441
At 31 March 2016
78,778
66,586
614
145,978
4. Trade and other receivables
2016
2017
£
£
Trade debtors
1,549,613
1,263,515
Other debtors
655,526
215,255
1,478,770
2,205,139
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7
For the year ended 31 March 2017
Karl Watson Contracting Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Bank loans and overdraft
(14,380)
-
Trade creditors
657,385
1,529,053
Taxation and social security
620,742
391,800
Other creditors
30,539
18,032
1,294,286
1,938,885
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
-
-
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