May-Wick Entertainment Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09451552 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

MAY-WICK ENTERTAINMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J May

REGISTERED OFFICE:

54 Sun Street

Waltham Abbey

Essex

EN9 1EJ

REGISTERED NUMBER:

09451552 (England and Wales)

ACCOUNTANTS:

KNIGHT WHEELER LIMITED

Chartered Accountants

54 Sun Street

Waltham Abbey

Essex

EN9 1EJ

FIXED ASSETS

Tangible assets

4

859

846

CURRENT ASSETS

Debtors

5

4,865

11,196

Cash at bank

59,432

50,184

64,297

61,380

CREDITORS

Amounts falling due within one year

6

(23,023

)

(20,155

)

NET CURRENT ASSETS

41,274

41,225

TOTAL ASSETS LESS CURRENT LIABILITIES

42,133

42,071

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

42,033

41,971

SHAREHOLDERS' FUNDS

42,133

42,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 3 July 2018 and were signed by:

J May - Director

1.	STATUTORY INFORMATION

May-Wick Entertainment Limited 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.

The presentation currency of the financial statement is the Pound Sterling (£) which is the functional currency of

the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

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.

Transition to Financial Reporting Standard 102

The date of transition for the Financial Reporting Standard 102 purposes was 1 March 2016. As part of the

transition process, there have been no changes to accounting policies. In addition, there have been no transitional

adjustments necessary to reconcile equity determined in accordance with the previous financial reporting

framework to equity determined in accordance with the Financial Reporting Standard 102 as at the date of

transition and at the end of the latest period presented in the company's most recent financial statements

determined in accordance with its previous financial reporting framework. No transitional adjustments have been

required, in addition, to reconcile the profit or loss determined in accordance with the company's previous

financial reporting framework for the latest period in the company's most recent annual financial statements to its

profit or loss determined in accordance with the Financial Reporting Standard 102 for the same period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

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 material 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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where

the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2017

1,505

Additions

299

At 28 February 2018

1,804

DEPRECIATION

At 1 March 2017

659

Charge for year

286

At 28 February 2018

945

NET BOOK VALUE

At 28 February 2018

859

At 28 February 2017

846

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

4,525

10,802

Prepayments

340

394

4,865

11,196

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

(1

)

Tax

10,906

15,878

VAT

1,791

1,104

Directors' current accounts

8,726

1,674

Accruals

1,600

1,500

23,023

20,155