HW Atkinson & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03393467 (England and Wales)

Unaudited Financial Statements

For The Year Ended 5 April 2018

for

HW Atkinson & Sons Limited

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D W Atkinson

S W Atkinson

Mrs J Atkinson

SECRETARY:

Mrs C Atkinson

REGISTERED OFFICE:

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

REGISTERED NUMBER:

03393467 (England and Wales)

ACCOUNTANTS:

Charles A Wood & Co.

Chartered Accountants

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

BANKERS:

HSBC Bank plc

1 King Street

Bridlington

East Yorkshire

YO15 2DL

SOLICITORS:

Pinkney Grunwells Lawyers LLP

8-10 Quay Road

Bridlington

East Yorkshire

YO15 2AP

The following reproduces the text of the report prepared for the directors 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 Directors 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 HW Atkinson & Sons Limited for the year ended 5 April 2018 which comprise the Income

Statement, Abridged 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 Board of Directors of HW Atkinson & Sons Limited, as a body, in accordance with the terms of our engagement letter dated 3 December 2018. Our work has been undertaken solely to prepare for your approval the financial statements of HW Atkinson & Sons Limited and state those matters that we have agreed to state to the Board of Directors of HW Atkinson & Sons Limited, as a body, 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 HW Atkinson & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HW Atkinson & Sons 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 profit of HW Atkinson & Sons Limited. You consider that HW Atkinson & Sons 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 HW Atkinson & Sons 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.

Charles A Wood & Co.

Chartered Accountants

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

14 December 2018

FIXED ASSETS

Intangible assets

4

21,048

28,063

Tangible assets

5

2,003,950

1,925,213

2,024,998

1,953,276

CURRENT ASSETS

Stocks

83,413

98,819

Debtors

72,194

56,865

155,607

155,684

CREDITORS

Amounts falling due within one year

194,001

191,549

NET CURRENT LIABILITIES

(38,394

)

(35,865

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,986,604

1,917,411

CREDITORS

Amounts falling due after more than one year

6

(448,078

)

(374,096

)

PROVISIONS FOR LIABILITIES

(50,767

)

(56,883

)

ACCRUALS AND DEFERRED INCOME

(21,047

)

(28,063

)

NET ASSETS

1,466,712

1,458,369

CAPITAL AND RESERVES

Called up share capital

700,000

700,000

Retained earnings

766,712

758,369

SHAREHOLDERS' FUNDS

1,466,712

1,458,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 Balance Sheet for the year ended 5 April 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 14 December 2018 and were signed on its behalf by:

D W Atkinson - Director

1.	STATUTORY INFORMATION

HW Atkinson & Sons 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 represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Basic Payment Scheme Entitlement is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold land

-

not provided

Improvements to property

-

Straight line over 20 years

Plant and machinery

-

33% on reducing balance and 15% on reducing balance

Combine harvester

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Tractors

-

25% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2017

and 5 April 2018

35,079

AMORTISATION

At 6 April 2017

7,016

Amortisation for year

7,015

At 5 April 2018

14,031

NET BOOK VALUE

At 5 April 2018

21,048

At 5 April 2017

28,063

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2017

2,585,185

Additions

154,108

Disposals

(14,915

)

At 5 April 2018

2,724,378

DEPRECIATION

At 6 April 2017

659,972

Charge for year

71,800

Eliminated on disposal

(11,344

)

At 5 April 2018

720,428

NET BOOK VALUE

At 5 April 2018

2,003,950

At 5 April 2017

1,925,213

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 6 April 2017

75,000

Additions

20,275

At 5 April 2018

95,275

DEPRECIATION

At 6 April 2017

11,250

Charge for year

12,604

At 5 April 2018

23,854

NET BOOK VALUE

At 5 April 2018

71,421

At 5 April 2017

63,750

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans more 5 yr by instal

50,336

-

7.

LOANS

Details of shares shown as liabilities are as follows:

Allotted, Issued and fully paid

Class

Nominal Value

2017

2016

Number

£

£

3,500

Redeemable Preference

£100

350,000

350,000

Each Redeemable Preference share has an equal right as regards votes. Each Redeemable Preference share has

the right to receive a dividend in priority to the Ordinary shares. Each Redeemable share has the right to

participate in the Capital (including on a winding up) up to a maximum of the amount paid up on the share in

priority to the Ordinary shares and to participate in any surplus (if any) after payment of the amount paid up on

the Ordinary shares.

The Redeemable Preference Shares may be redeemed at par at any time by the company, subject to the company

giving at least three months notice to the shareholder.

The Redeemable Preference shareholders may request the redemption of up to 500 Redeemable Preference

Shares in any year.

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

36,223

29,085

Hire purchase contracts

33,422

47,000

69,645

76,085

9.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

-

121,358

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,600 (2017 - £12,600) were paid to the directors .

The following balances were due to the Director:

2018

2017

£

£

D W Atkinson

38,278

46,740

Interest was paid to the Director as follows:

2018

2017

£

£

D W Atkinson

1,011

1,177

The following balances were due to the Director:

2018

2017

£

£

Mrs J Atkinson

18,959

23,360

Interest was paid to the Director as follows:

2018

2017

£

£

Mrs J Atkinson

745

699

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D W Atkinson.