Lyons Watson Associates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09850821 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Lyons Watson Associates Ltd

Trading as

Lyons Watson Accountants

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N J Lyons

REGISTERED OFFICE:

Business Central

2 Union Square

Central Park

Darlington

Co. Durham

DL1 1GL

REGISTERED NUMBER:

09850821 (England and Wales)

ACCOUNTANTS:

Lyons Watson

Accountants & Business Advisers

Business Central

2 Union Square

Darlington

Co. Durham

DL1 1GL

FIXED ASSETS

Tangible assets

4

6,381

3,170

CURRENT ASSETS

Debtors

39,467

27,366

Cash at bank and in hand

55,620

48,038

95,087

75,404

CREDITORS

Amounts falling due within one year

67,098

48,079

NET CURRENT ASSETS

27,989

27,325

TOTAL ASSETS LESS CURRENT LIABILITIES

34,370

30,495

PROVISIONS FOR LIABILITIES

1,212

602

NET ASSETS

33,158

29,893

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

32,958

29,693

33,158

29,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 September 2019 and were signed by:

Mr N J Lyons - Director

1.	STATUTORY INFORMATION

Lyons Watson Associates Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the going concern basis of accounting.

Turnover

Turnover represents the value of work carried out during the year including amounts not yet invoiced,

excluding value added tax. Income is being recognised according to the stage of completion of work

done.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

5,327

Additions

5,496

Disposals

(1,210

)

At 31 December 2018

9,613

DEPRECIATION

At 1 January 2018

2,157

Charge for year

1,897

Eliminated on disposal

(822

)

At 31 December 2018

3,232

NET BOOK VALUE

At 31 December 2018

6,381

At 31 December 2017

3,170