Company Registration No. 06055611 (England and Wales)
Wilson's Motorcycles Limited
Unaudited accounts
for the year ended 31 January 2019
Wilson's Motorcycles Limited
Unaudited accounts
Contents
Wilson's Motorcycles Limited
Company Information
for the year ended 31 January 2019
Director
Richard Alan Wilson
Company Number
06055611 (England and Wales)
Registered Office
24 Cannon Terrace
Wisbech
Cambridgeshire
PE13 2QW
Wilson's Motorcycles Limited
Statement of financial position
as at
31 January 2019
Tangible assets
8,810
4,938
Inventories
29,454
18,250
Cash at bank and in hand
6,165
2,552
Creditors: amounts falling due within one year
(40,059)
(19,925)
Net current (liabilities)/assets
(3,226)
1,002
Total assets less current liabilities
5,584
5,940
Creditors: amounts falling due after more than one year
(11,728)
(8,250)
Net liabilities
(6,144)
(2,310)
Called up share capital
1
1
Profit and loss account
(6,145)
(2,311)
Shareholders' funds
(6,144)
(2,310)
For the year ending 31 January 2019 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.
Approved by the Board on 31 October 2019.
Richard Alan Wilson
Director
Company Registration No. 06055611
Wilson's Motorcycles Limited
Notes to the Accounts
for the year ended 31 January 2019
Wilson's Motorcycles Limited is a private company, limited by shares, registered in England and Wales, registration number 06055611. The registered office is 24 Cannon Terrace, Wisbech, Cambridgeshire, PE13 2QW.
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.
These financial statements for the year ended 31 January 2019 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2017.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
15% reducing balance
Motor vehicles
20% reducing balance
Wilson's Motorcycles Limited
Notes to the Accounts
for the year ended 31 January 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2018
13,836
1,000
14,836
Additions
533
5,250
5,783
At 31 January 2019
14,369
6,250
20,619
At 1 February 2018
9,698
200
9,898
Charge for the year
701
1,210
1,911
At 31 January 2019
10,399
1,410
11,809
At 31 January 2019
3,970
4,840
8,810
At 31 January 2018
4,138
800
4,938
Finished goods
29,454
18,250
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
7,000
3,000
Obligations under finance leases and hire purchase contracts
1,625
-
Trade creditors
4,181
2,014
Taxes and social security
1,182
284
Loans from directors
24,886
13,777
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
3,478
-
Wilson's Motorcycles Limited
Notes to the Accounts
for the year ended 31 January 2019
9
Average number of employees
During the year the average number of employees was 2 (2018: 2).