Registration number:
Bernard Walsh And Co Ltd
for the Year Ended 31 May 2019
Certified Public Accountant
5 Elm Lane
Charlton Down
Dorchester
DT2 9FB
Bernard Walsh And Co Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Bernard Walsh And Co Ltd
Company Information
Directors |
Mr Bernard Walsh Barry James Walsh |
Company secretary |
Mr Bernard Walsh |
Registered office |
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Accountants |
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Page 1 |
Bernard Walsh And Co Ltd
Directors' Report for the Year Ended 31 May 2019
The directors present their report and the financial statements for the year ended 31 May 2019.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Accountancy Payroll and Bookkeeping Services
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Company secretary and director
Page 2 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bernard Walsh And Co Ltd
for the Year Ended 31 May 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bernard Walsh And Co Ltd for the year ended 31 May 2019 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Certified Public Accountants, we are subject to its ethical and other professional requirements which are detailed at www.acpa.org.uk
This report is made solely to the Board of Directors of Bernard Walsh And Co Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bernard Walsh And Co Ltd and state those matters that we have agreed to state to the Board of Directors of Bernard Walsh And Co Ltd, as a body, in this report in accordance with the requirements of the Association of Certified Public Accountants . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bernard Walsh And Co Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bernard Walsh And Co Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bernard Walsh And Co Ltd. You consider that Bernard Walsh And Co Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bernard Walsh And Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Certified Public Accountant
Charlton Down
Dorchester
DT2 9FB
Page 3 |
Bernard Walsh And Co Ltd
Profit and Loss Account for the Year Ended 31 May 2019
Note |
2019 |
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Turnover |
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Cost of sales |
( |
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Gross profit |
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Administrative expenses |
( |
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Operating profit |
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Profit before tax |
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Taxation |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 4 |
Bernard Walsh And Co Ltd
Statement of Comprehensive Income for the Year Ended 31 May 2019
2019 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 5 |
Bernard Walsh And Co Ltd
(Registration number: 9039706)
Balance Sheet as at 31 May 2019
Note |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Company secretary and director
Page 6 |
Bernard Walsh And Co Ltd
Statement of Changes in Equity for the Year Ended 31 May 2019
Share capital |
Profit and loss account |
Total |
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At 1 June 2018 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 May 2019 |
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Page 7 |
Bernard Walsh And Co Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 8 |
Bernard Walsh And Co Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor Vehicles |
25% Straight Line |
Furniture Fixtures and Fittings |
10% Straight Line |
Computer Equipment |
33% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Profit before tax |
Arrived at after charging/(crediting)
2019 |
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Depreciation expense |
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Page 9 |
Bernard Walsh And Co Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 June 2018 |
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Additions |
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- |
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At 31 May 2019 |
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Depreciation |
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At 1 June 2018 |
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Charge for the year |
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At 31 May 2019 |
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Carrying amount |
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At 31 May 2019 |
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Debtors |
2019 |
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Trade debtors |
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Creditors |
Creditors: amounts falling due within one year
2019 |
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Due within one year |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
Page 10 |
Bernard Walsh And Co Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
2019 |
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No. |
£ |
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2 |
Dividends |
2019 |
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£ |
Page 11 |