Michelle Lawley Limited - Accounts to registrar - small 17.2

MICHELLE LAWLEY LIMITED - Company Information

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REGISTERED NUMBER: 09568944 (England and Wales)

MICHELLE LAWLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2017

Page

Company Information

Balance Sheet

Notes to the Financial Statements

Chartered Accountants' Report

DIRECTOR:

Mrs M Gentle

REGISTERED OFFICE:

1 Lowlands Avenue

Wolverhampton

WV6 9PA

REGISTERED NUMBER:

09568944 (England and Wales)

ACCOUNTANTS:

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

FIXED ASSETS

Intangible assets

31,500

35,000

Tangible assets

24,523

23,749

56,023

58,749

CURRENT ASSETS

Stocks

12,369

14,800

Debtors

2,725

Cash at bank

1,827

7,189

16,921

21,989

CREDITORS

Amounts falling due within one year

35,876

25,774

NET CURRENT LIABILITIES

(18,955

)

(3,785

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,068

54,964

CREDITORS

Amounts falling due after more than
one year

(20,950

)

(37,083

)

PROVISIONS FOR LIABILITIES

(4,490

)

(3,556

)

NET ASSETS

11,628

14,325

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

11,528

14,225

SHAREHOLDERS' FUNDS

11,628

14,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21st November 2017 and were signed
by:

Mrs M Gentle - Director

1.	STATUTORY INFORMATION

Michelle Lawley 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 the provisions of Section 1A "Small Entities" 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and equipment

15% on reducing balance

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

COST

At 1st May 2016

and 30th April 2017

35,000

AMORTISATION

Amortisation for year

3,500

At 30th April 2017

3,500

NET BOOK VALUE

At 30th April 2017

31,500

At 30th April 2016

35,000

4.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

COST

At 1st May 2016

25,621

Additions

5,333

At 30th April 2017

30,954

DEPRECIATION

At 1st May 2016

1,872

Charge for year

4,559

At 30th April 2017

6,431

NET BOOK VALUE

At 30th April 2017

24,523

At 30th April 2016

23,749

STOCKS

2017

2016

Stocks

12,369

14,800

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Prepayments

2,725

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Bank loans and overdrafts

3,333

Social security and other taxes

(165

)

VAT

9,711

3,997

Other creditors

17,634

12,284

Directors' current accounts

4,835

5,526

Accrued expenses

528

634

35,876

25,774

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

Bank loans - 1-2 years

3,333

6,667

Other creditors

17,617

30,416

20,950

37,083

RESERVES

Retained

earnings

At 1st May 2016

14,225

Deficit for the year

(2,697

)

At 30th April 2017

11,528

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Michelle Lawley Limited for the year ended 30th April 2017

which comprise the Income Statement, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Michelle Lawley Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Michelle Lawley Limited and state those matters that we have agreed to state to the director of Michelle Lawley Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michelle Lawley Limited director for our work or for this report.

It is your duty to ensure that Michelle Lawley Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Michelle Lawley Limited. You consider that Michelle Lawley Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Michelle Lawley Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

21st November 2017