Joshua Kershaw & Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01677190 (England and Wales)

JOSHUA KERSHAW & COMPANY LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Kershaw

Mrs C E Kershaw

SECRETARY:

P M Kershaw

REGISTERED OFFICE:

Victoria Leatherworks

Water Street

Portwood

Stockport

Cheshire

SK1 2BP

REGISTERED NUMBER:

01677190 (England and Wales)

ACCOUNTANTS:

Whitehead & Co

Chartered Accountants

Registered Auditor

Alpha House

4 Greek Street

Stockport

Cheshire

SK3 8AB

FIXED ASSETS

Tangible assets

4

13,694

17,989

CURRENT ASSETS

Stocks

5

21,389

33,492

Debtors

6

36,198

9,707

Cash at bank and in hand

59,927

80,293

117,514

123,492

CREDITORS

Amounts falling due within one year

7

22,178

48,392

NET CURRENT ASSETS

95,336

75,100

TOTAL ASSETS LESS CURRENT LIABILITIES

109,030

93,089

PROVISIONS FOR LIABILITIES

-

1,813

NET ASSETS

109,030

91,276

CAPITAL AND RESERVES

Called up share capital

8

20,000

20,000

Retained earnings

89,030

71,276

SHAREHOLDERS' FUNDS

109,030

91,276

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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

The financial statements were approved by the Board of Directors on 22 October 2018 and were signed on its behalf by:

P M Kershaw - Director

1.	STATUTORY INFORMATION

Joshua Kershaw & Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities such as trade and other accounts receivable and payable and loans from/to related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present

value of the future payments and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the

undiscounted amount of the cash or other consideration, expected to be paid or received.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

18,148

134,371

152,519

DEPRECIATION

At 1 April 2017

9,222

125,308

134,530

Charge for year

1,815

2,480

4,295

At 31 March 2018

11,037

127,788

138,825

NET BOOK VALUE

At 31 March 2018

7,111

6,583

13,694

At 31 March 2017

8,926

9,063

17,989

5.

STOCKS

31.3.18

31.3.17

£

£

Stocks

21,389

33,492

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

13,123

6,596

Amounts owed by group undertakings

11,967

-

Other debtors

11,108

3,111

36,198

9,707

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

7,870

14,483

Amounts owed to group undertakings

-

15,125

Taxation and social security

4,878

6,984

Other creditors

9,430

11,800

22,178

48,392

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

20,000

Ordinary

£1

20,000

20,000

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P M Kershaw.