Karl Watson Contracting Limited,Ltd - AccountsLtd - Accounts

KARL WATSON CONTRACTING LIMITED - Company Information

2017-04-01 07210230 2018-03-31 07210230 2017-04-01 2018-03-31 07210230 2017-03-31 07210230 2016-04-01 2017-03-31 07210230 uk-core:WithinOneYear 2017-03-31 07210230 uk-core:WithinOneYear 2018-03-31 07210230 uk-core:ShareCapital 2018-03-31 07210230 uk-core:ShareCapital 2017-03-31 07210230 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 07210230 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 07210230 uk-bus:Director1 2017-04-01 2018-03-31 07210230 uk-core:NetGoodwill 2017-04-01 2018-03-31 07210230 uk-core:PlantMachinery 2017-04-01 2018-03-31 07210230 uk-core:CommercialMotorVehicles 2017-04-01 2018-03-31 07210230 uk-core:FurnitureFittings 2017-04-01 2018-03-31 07210230 uk-core:Goodwill 2017-03-31 07210230 uk-core:Goodwill 2018-03-31 07210230 uk-core:Goodwill 2017-04-01 2018-03-31 07210230 uk-core:FurnitureFittings 2017-03-31 07210230 uk-core:CommercialMotorVehicles 2017-03-31 07210230 uk-core:PlantMachinery 2017-03-31 07210230 uk-core:PlantMachinery 2018-03-31 07210230 uk-core:CommercialMotorVehicles 2018-03-31 07210230 uk-core:FurnitureFittings 2018-03-31 07210230 uk-core:AdditionsToInvestments 2018-03-31 07210230 uk-core:AdditionsToInvestments uk-core:Non-currentFinancialInstruments 2018-03-31 07210230 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2018-03-31 07210230 uk-core:CostValuation 2018-03-31 07210230 uk-core:Non-currentFinancialInstruments 2018-03-31 07210230 uk-core:WithinOneYear 2018-03-31 07210230 uk-core:WithinOneYear 2017-03-31 iso4217:GBP 07210230 uk-bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 07210230 uk-bus:FRS102 2017-04-01 2018-03-31 07210230 uk-bus:FullAccounts 2017-04-01 2018-03-31 07210230 uk-bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31

Karl Watson Contracting Limited

Registered Number:07210230

For the year ended 31 March 2018

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2018

Karl Watson Contracting Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 March 2018

Karl Watson Contracting Limited

Statement of Financial Position

Registered Number :

07210230

2017

2018

Notes

Fixed assets

Intangible assets

125,000

150,000

Property, plant and equipment

164,989

152,441

Financial assets

944,208

1,234,197

302,441

Current assets

Inventories

(230,458)

1,250,000

Trade and other receivables

2,205,139

(13,863)

1,308,363

Cash and cash equivalents

297,100

1,533,237

3,283,044

Trade and other payables: amounts falling due

within one year

(1,294,286)

(244,087)

1,988,758

1,289,150

Net current assets

Total assets less current liabilities

2,523,347

2,291,199

2,523,347

Net assets

2,291,199

Capital and reserves

Called up share capital

100

Retained earnings

2,523,247

2,291,099

2,523,347

2,291,199

Shareholders' funds

For the year ended 31 March 2018 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 2018 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 delive

red.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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For the year ended 31 March 2018

Karl Watson Contracting Limited

Statement of Financial Position Continued

Mr Phillip Owen Callington Director

These financial statements were approved and authorised for issue by the Board on 05 November 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 March 2018

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

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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For the year ended 31 March 2018

Karl Watson Contracting Limited

Notes to the Financial Statements Continued

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 April 2017

250,000

At 31 March 2018

250,000

Amortisation

At 01 April 2017

100,000

25,000

Charge for year

At 31 March 2018

125,000

Net book value

At 31 March 2018

125,000

At 31 March 2017

150,000

3. Property, plant and equipment

Total

Fixtures and

fittings

Motor

vehicles

Plant and

machinery

Cost or

valuation

At 01 April 2017

311,352

1,455

143,018

166,879

67,544

56,594

10,950

Additions

At 31 March 2018

177,829

199,612

1,455

378,896

Provision for depreciation and impairmen

At 01 April 2017

158,911

994

62,684

95,233

Charge for year

54,996

115

34,232

20,649

At 31 March 2018

213,907

1,109

96,916

115,882

At 31 March 2018

Net book value

61,947

102,696

346

164,989

At 31 March 2017

71,646

80,334

461

152,441

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For the year ended 31 March 2018

Karl Watson Contracting Limited

Notes to the Financial Statements Continued

4. Investments held as fixed assets

Loans to Group and participating interests

Total

Cost

944,208

Additions

At 31 March 2018

944,208

At 31 March 2018

Net book value

944,208

5. Inventories

2017

2018

Stocks

1,250,000

(230,458)

6. Trade and other receivables

2017

2018

Trade debtors

(13,863)

1,549,613

Other debtors

655,526

2,205,139

(13,863)

7. Trade and other payables: amounts falling due within one year

2017

2018

Bank loans and overdraft

(14,380)

Trade creditors

144,697

657,385

Taxation and social security

127,166

620,742

Other creditors

(13,396)

30,539

244,087

1,294,286

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