IRIS Accounts Production v22.2.0.402 01400647 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Fair value model Ordinary 10.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure014006472020-12-31014006472021-12-31014006472021-01-012021-12-31014006472019-12-31014006472020-01-012020-12-31014006472020-12-3101400647ns16:EnglandWales2021-01-012021-12-3101400647ns15:PoundSterling2021-01-012021-12-3101400647ns11:Director12021-01-012021-12-3101400647ns11:Director22021-01-012021-12-3101400647ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3101400647ns11:SmallEntities2021-01-012021-12-3101400647ns11:AuditExemptWithAccountantsReport2021-01-012021-12-3101400647ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3101400647ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3101400647ns11:FullAccounts2021-01-012021-12-3101400647ns11:OrdinaryShareClass12021-01-012021-12-3101400647ns11:CompanySecretary12021-01-012021-12-3101400647ns11:RegisteredOffice2021-01-012021-12-3101400647ns6:CurrentFinancialInstruments2021-12-3101400647ns6:CurrentFinancialInstruments2020-12-3101400647ns6:ShareCapital2021-12-3101400647ns6:ShareCapital2020-12-3101400647ns6:RetainedEarningsAccumulatedLosses2021-12-3101400647ns6:RetainedEarningsAccumulatedLosses2020-12-3101400647ns6:PlantMachinery2020-12-3101400647ns6:MotorVehicles2020-12-3101400647ns6:PlantMachinery2021-01-012021-12-3101400647ns6:MotorVehicles2021-01-012021-12-3101400647ns6:PlantMachinery2021-12-3101400647ns6:MotorVehicles2021-12-3101400647ns6:PlantMachinery2020-12-3101400647ns6:MotorVehicles2020-12-3101400647ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3101400647ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3101400647ns11:OrdinaryShareClass12021-12-31014006472ns11:Director22020-12-31014006472ns11:Director22019-12-31014006472ns11:Director22021-01-012021-12-31014006472ns11:Director22020-01-012020-12-31014006472ns11:Director22021-12-31014006472ns11:Director22020-12-3101400647ns11:Director112020-12-3101400647ns11:Director112019-12-3101400647ns11:Director112021-01-012021-12-3101400647ns11:Director112020-01-012020-12-3101400647ns11:Director112021-12-3101400647ns11:Director112020-12-31
REGISTERED NUMBER: 01400647 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Watson & Brookman (Engineers) Limited

Watson & Brookman (Engineers) Limited (Registered number: 01400647)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Watson & Brookman (Engineers) Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr C A Brookman
Mr T Watson





SECRETARY: Mrs C F Watson





REGISTERED OFFICE: Chawston Crossroads
Chawston
Bedfordshire
MK44 3BL





REGISTERED NUMBER: 01400647 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

Watson & Brookman (Engineers) Limited (Registered number: 01400647)

Statement of Financial Position
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 405,148 255,330
Investment property 5 330,000 960,000
735,148 1,215,330

CURRENT ASSETS
Stocks 6 123,000 114,000
Debtors 7 845,866 728,065
Cash at bank and in hand 1,960,046 1,389,670
2,928,912 2,231,735
CREDITORS
Amounts falling due within one year 8 436,258 482,437
NET CURRENT ASSETS 2,492,654 1,749,298
TOTAL ASSETS LESS CURRENT LIABILITIES 3,227,802 2,964,628

PROVISIONS FOR LIABILITIES 97,739 65,639
NET ASSETS 3,130,063 2,898,989

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,129,963 2,898,889
SHAREHOLDERS' FUNDS 3,130,063 2,898,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Watson & Brookman (Engineers) Limited (Registered number: 01400647)

Statement of Financial Position - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by:




Mr T Watson - Director



Mr C A Brookman - Director


Watson & Brookman (Engineers) Limited (Registered number: 01400647)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Watson & Brookman (Engineers) 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 statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

There were no material departures from that standard.

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
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant and machinery - 15% reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the profit and loss in the period to which they relate.

Watson & Brookman (Engineers) Limited (Registered number: 01400647)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2020 - 28 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 973,275 96,123 1,069,398
Additions 198,331 - 198,331
At 31 December 2021 1,171,606 96,123 1,267,729
DEPRECIATION
At 1 January 2021 762,748 51,320 814,068
Charge for year 39,552 8,961 48,513
At 31 December 2021 802,300 60,281 862,581
NET BOOK VALUE
At 31 December 2021 369,306 35,842 405,148
At 31 December 2020 210,527 44,803 255,330

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 960,000
Disposals (650,000 )
Revaluations 20,000
At 31 December 2021 330,000
NET BOOK VALUE
At 31 December 2021 330,000
At 31 December 2020 960,000


6. STOCKS
31.12.21 31.12.20
£    £   
Stocks 123,000 114,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 560,151 556,414
Due from associated company 103,807 -
Directors' current accounts 107,345 123,185
Tax 69,018 45,151
Prepayments 5,545 3,315
845,866 728,065

Watson & Brookman (Engineers) Limited (Registered number: 01400647)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 241,549 268,145
Tax 11,783 63,606
Social security and other taxes 24,531 23,244
VAT 80,518 91,636
Other creditors 44,869 5,580
Accruals 33,008 30,226
436,258 482,437

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
1,000 Ordinary 10p 100 100

On 31 October 2019 the ordinary shares were subdivided from 100 shares of £1 each into 1,000 shares of 10p each.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
Mr C A Brookman
Balance outstanding at start of year 61,495 68,255
Amounts advanced - 1,610
Amounts repaid (7,920 ) (8,370 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,575 61,495

Mr T Watson
Balance outstanding at start of year 61,690 68,450
Amounts advanced - 1,610
Amounts repaid (7,920 ) (8,370 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,770 61,690

11. RELATED PARTY DISCLOSURES

During the period goods were purchased and sold totalling £19,216 and £1,356 respectively from Bearings UK (WB) Limited, a company C Watson and T Brookman directors of Watson & Brookman (Engineers) Limited are also directors.

The amount outstanding at the year-end from Bearings UK (WB) Limited £103,807 (2020- £Nil).

12. GOING CONCERN

The directors have considered the consequences of Covid-19 and other events and conditions, and have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Watson & Brookman (Engineers) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Watson & Brookman (Engineers) Limited for the year ended 31 December 2021 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Watson & Brookman (Engineers) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Watson & Brookman (Engineers) Limited and state those matters that we have agreed to state to the Board of Directors of Watson & Brookman (Engineers) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Watson & Brookman (Engineers) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Watson & Brookman (Engineers) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Watson & Brookman (Engineers) Limited. You consider that Watson & Brookman (Engineers) Limited 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 financial statements of Watson & Brookman (Engineers) Limited. 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 financial statements.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


1 September 2022