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Company Registration No. 5215709 (England and Wales)
Michael Watkinson Limited Unaudited accounts for the year ended 31 March 2024
Michael Watkinson Limited Unaudited accounts Contents
Page
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Michael Watkinson Limited Company Information for the year ended 31 March 2024
Director
M Watkinson
Company Number
5215709 (England and Wales)
Registered Office
SUNNYSIDE BARN LITHERSKEW SEDBUSK HAWES NORTH YORKSHIRE DL8 3PZ
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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Michael Watkinson Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
46,499 
Current assets
Inventories
200 
800 
Debtors
31,776 
5,299 
Cash at bank and in hand
35,137 
39,318 
67,113 
45,417 
Creditors: amounts falling due within one year
(17,202)
(31,815)
Net current assets
49,911 
13,602 
Total assets less current liabilities
49,911 
60,101 
Provisions for liabilities
Deferred tax
- 
(8,835)
Net assets
49,911 
51,266 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
49,811 
51,166 
Shareholders' funds
49,911 
51,266 
For the year ending 31 March 2024 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 August 2024 and were signed on its behalf by
M Watkinson Director Company Registration No. 5215709
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Michael Watkinson Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Michael Watkinson Limited is a private company, limited by shares, registered in England and Wales, registration number 5215709. The registered office is SUNNYSIDE BARN, LITHERSKEW SEDBUSK, HAWES, NORTH YORKSHIRE, DL8 3PZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on a reducing balance
Motor vehicles
25% on a reducing balance
Computer equipment
30% on a reducing balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Michael Watkinson Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
104,780 
37,150 
4,853 
146,783 
Additions
1,749 
2,750 
- 
4,499 
Disposals
(106,529)
(39,900)
- 
(146,429)
At 31 March 2024
- 
- 
4,853 
4,853 
Depreciation
At 1 April 2023
62,853 
33,835 
3,596 
100,284 
Charge for the year
8,677 
1,459 
1,257 
11,393 
On disposals
(71,530)
(35,294)
- 
(106,824)
At 31 March 2024
- 
- 
4,853 
4,853 
Net book value
At 31 March 2024
- 
- 
- 
- 
At 31 March 2023
41,927 
3,315 
1,257 
46,499 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
139 
Trade debtors
- 
5,160 
Other debtors
31,776 
- 
31,776 
5,299 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
179 
Taxes and social security
15,562 
4,197 
Loans from directors
- 
25,859 
Accruals
1,640 
1,580 
17,202 
31,815 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
M Watkinson
Loan
- 
31,195 
- 
31,195 
- 
31,195 
- 
31,195 
The loan has been repaid following the year end with dividends.
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Michael Watkinson Limited Notes to the Accounts for the year ended 31 March 2024
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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