Michaels Drinkstore Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06791346 (England and Wales)

Financial Statements for the Year Ended 30 April 2018

for

Michaels Drinkstore Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mr Charanjit Singh Sunner

Mrs Saranjit Kaur Sunner

REGISTERED OFFICE:

Desai House

9-13 Holbrook Lane

Coventry

West Midlands

CV6 4AD

REGISTERED NUMBER:

06791346 (England and Wales)

ACCOUNTANTS:

Sterling Accounting Services Limited

Bridge House

9-13 Holbrook Lane

Coventry

West Midlands

CV6 4AD

FIXED ASSETS

Property, plant and equipment

4

17,599

19,500

CURRENT ASSETS

Inventories

5

79,807

80,609

Debtors

6

681

622

Cash at bank and in hand

9,175

4,048

89,663

85,279

CREDITORS

Amounts falling due within one year

7

73,902

75,159

NET CURRENT ASSETS

15,761

10,120

TOTAL ASSETS LESS CURRENT LIABILITIES

33,360

29,620

CAPITAL AND RESERVES

Called up share capital

8

3

3

Retained earnings

9

33,357

29,617

SHAREHOLDERS' FUNDS

33,360

29,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

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 2 January 2019 and were signed on its behalf by:

Mr Charanjit Singh Sunner - Director

1.	STATUTORY INFORMATION

Michaels Drinkstore 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

Revenue 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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

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

obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2017

and 30 April 2018

10,000

5,824

154

40,000

55,978

DEPRECIATION

At 1 May 2017

-

4,791

76

31,611

36,478

Charge for year

-

207

16

1,678

1,901

At 30 April 2018

-

4,998

92

33,289

38,379

NET BOOK VALUE

At 30 April 2018

10,000

826

62

6,711

17,599

At 30 April 2017

10,000

1,033

78

8,389

19,500

5.	INVENTORIES

30.4.18

30.4.17

£

£

Stocks

79,807

80,609

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Prepayments

681

622

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

6,725

-

Trade creditors

22,900

11,571

Corporation Tax

9,693

13,207

Social security and other taxes

-

12

Value Added Tax

2,452

2,487

Camelot Group

705

470

Directors' current accounts

31,351

47,109

Accrued expenses

76

303

73,902

75,159

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

3

Ordinary

£

3

3

9.

RESERVES

Retained

earnings

£

At 1 May 2017

29,617

Profit for the year

18,740

Dividends

(15,000

)

At 30 April 2018

33,357

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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 April 2018 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Sterling Accounting Services Limited

Bridge House

9-13 Holbrook Lane

Coventry

West Midlands

CV6 4AD

Date: .............................................