Registered number: 04914092 | ||||||||
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FOR THE YEAR ENDED 31/12/2017 | ||||||||
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Prepared By: | ||||||||
N B Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
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McKnight and Son Builders Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2017 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
Mrs D A Greenhow | ||||||||
REGISTERED OFFICE | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 04914092 | ||||||||
ACCOUNTANTS | ||||||||
N B Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
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McKnight and Son Builders Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2017 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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McKnight and Son Builders Limited | ||||||||
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BALANCE SHEET AT
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2017 | 2016 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 4 |
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Current Asset Investments | 5 |
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Cash at bank and in hand |
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1,687,404 | 908,426 | |||||||||
CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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899,695 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 7 | 54,728 | - | |||||||
NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 |
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Profit and loss account | 1,075,015 | 899,595 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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McKnight and Son Builders Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2017 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Plant and Machinery | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
2. TANGIBLE FIXED ASSETS | ||||||
Plant and | ||||||
Machinery | Motor Cars | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
Additions | 98,592 | 64,211 | 162,803 | |||
At 31/12/2017 | 98,592 | 64,211 | 162,803 | |||
Depreciation | ||||||
For the year | 10,270 | 6,689 | 16,959 | |||
At 31/12/2017 | 10,270 | 6,689 | 16,959 | |||
Net Book Amounts | ||||||
At 31/12/2017 |
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145,844 | |||
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McKnight and Son Builders Limited | ||||||||
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3. STOCK | 2017 | 2016 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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Work in progress |
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4. DEBTORS | 2017 | 2016 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 79,356 | - | ||||||
VAT | 73,560 | - | ||||||
Other debtors | 100 | 100 | ||||||
153,016 | 100 | |||||||
5. CURRENT ASSET INVESTMENTS | ||||||||
Capital balance due from partnership of McKnight Builders | 2017 | 2016 | ||||||
£ | £ | |||||||
898,177 | 908,326 | |||||||
898,177 | 908,326 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
UK corporation tax | 38,867 | 8,731 | ||||||
PAYE control | 23,535 | - | ||||||
Directors current account - R McKnight | 99,199 | - | ||||||
Directors current account - W R McKnight | 296,760 | - | ||||||
Hire purchase | 48,929 | - | ||||||
Trade creditors | 190,115 | - | ||||||
Accruals | 6,000 | - | ||||||
703,405 | 8,731 | |||||||
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McKnight and Son Builders Limited | ||||||||
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7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
Hire purchase >1yr | 54,728 | - | ||||||
54,728 | - | |||||||
8. EMPLOYEES | ||||||
2017 | 2016 | |||||
No. | No. | |||||
Average number of employees | - | - | ||||
9. SHARE CAPITAL | 2017 | 2016 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 100 | ||||||
100 | 100 | |||||||
10. RELATED PARTY TRANSACTIONS | ||||||||
At 31 December 2017 the company owed £56,799 to R McKnight and £339,160 to W R McKnight, these amount are interest free and repayable on demand. | ||||||||