Nicholas Wilson (Blackburn) Limited Filleted accounts for Companies House (small and micro)

NICHOLAS WILSON (BLACKBURN) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05512949

NICHOLAS WILSON (BLACKBURN) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 July 2018

NICHOLAS WILSON (BLACKBURN) LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2018

	2018		2017
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		3,326		3,472

CURRENT ASSETS

Debtors	6	–	2,612
Cash at bank and in hand		10,792	8,770
		--------	--------
		10,792	11,382

CREDITORS: Amounts falling due within one year	7	7,076		7,037
		--------		--------
NET CURRENT ASSETS			3,716		4,345
			-------		-------
TOTAL ASSETS LESS CURRENT LIABILITIES			7,042		7,817

PROVISIONS

Taxation including deferred tax	632	660
	-------	-------
NET ASSETS	6,410	7,157
	-------	-------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	6,408	7,155
	-------	-------
SHAREHOLDERS FUNDS	6,410	7,157
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NICHOLAS WILSON (BLACKBURN) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2018

These financial statements were approved by the board of directors and authorised for issue on 25 January 2019 , and are signed on behalf of the board by:

N. Wilson
Director

Company registration number: 05512949

NICHOLAS WILSON (BLACKBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

(d) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	10% per annum reducing balance
Motor Vehicles	-	25% per annum reducing balance
Equipment	-	`10% per annum reducing balance`

(g) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(h) Financial instruments

Basic financial instruments are recognised at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. TANGIBLE ASSETS

	Plant & Machinery	Motor Vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 August 2017	6,230	7,009	–	13,239
Additions	–	–	414	414
	-------	-------	----	--------
At 31 July 2018	6,230	7,009	414	13,653
	-------	-------	----	--------
Depreciation
At 1 August 2017	3,273	6,494	–	9,767
Charge for the year	295	128	137	560
	-------	-------	----	--------
At 31 July 2018	3,568	6,622	137	10,327
	-------	-------	----	--------
Carrying amount
At 31 July 2018	2,662	387	277	3,326
	-------	-------	----	--------
At 31 July 2017	2,957	515	–	3,472
	-------	-------	----	--------

6. DEBTORS

	2018	2017
	£	£
Trade debtors	–	2,612
	----	-------

7. CREDITORS: Amounts falling due within one year

	2018	2017
	£	£
Accruals and deferred income	875	875
Corporation tax	5,255	4,704
Director loan accounts	946	1,458
	-------	-------
	7,076	7,037
	-------	-------

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There are no transactions with directors that require disclosure under FRS 102.

9. RELATED PARTY TRANSACTIONS

The company was under the control of Mr N. Wilson throughout the year. Mr N. Wilson is the managing director and majority shareholder. During the year the company paid dividends to the director amounting to £5,000.