Theclockworks Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI066391 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31 May 2018

for

Theclockworks Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J G F Truesdale

Mr J Truesdale

SECRETARY:

Mrs J G F Truesdale

REGISTERED OFFICE:

20 Lisnasure Road

Donaghcloney

Craigavon

Co. Armagh

BT66 7NN

REGISTERED NUMBER:

NI066391 (Northern Ireland)

ACCOUNTANTS:

Aiken & Co LLP

Chartered Accountants

Building 2

The Sidings

Antrim Road

Lisburn

Co. Antrim

BT28 3AJ

FIXED ASSETS

Tangible assets

3

410

800

CURRENT ASSETS

Cash at bank

132

421

CREDITORS

Amounts falling due within one year

1,678

1,447

NET CURRENT LIABILITIES

(1,546

)

(1,026

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,136

)

(226

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Retained earnings

5

(1,236

)

(326

)

SHAREHOLDERS' FUNDS

(1,136

)

(226

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 October 2018 and were signed on its behalf by:

Mr J Truesdale - Director

1.	STATUTORY INFORMATION

Theclockworks Ltd is a private company, limited by shares , registered in Northern Ireland. The company's

registered number and registered office address can be found on the Company Information page.

The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the

nearest £.

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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have

transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic

benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in

respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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

-

20% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in

circumstances indicate that the carrying value may not be recoverable.

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

1,950

DEPRECIATION

At 1 June 2017

1,150

Charge for year

390

At 31 May 2018

1,540

NET BOOK VALUE

At 31 May 2018

410

At 31 May 2017

800

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

5.

RESERVES

Retained

earnings

£

At 1 June 2017

(326

)

Deficit for the year

(910

)

At 31 May 2018

(1,236

)

6.	ULTIMATE CONTROLLING PARTY

The directors do not consider there to be an ultimate controlling party.