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REGISTERED NUMBER: 04770863 (England and Wales)















Financial Statements for the Year Ended 31 May 2023

for

Watsons Of Brandsby Limited

Watsons Of Brandsby Limited (Registered number: 04770863)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Watsons Of Brandsby Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs S M Watson
E Watson





SECRETARY: E Watson





REGISTERED OFFICE: Mill Farm, Crayke Road
Brandsby
York
North Yorkshire
YO61 4RP





REGISTERED NUMBER: 04770863 (England and Wales)





ACCOUNTANTS: Yorkshire Accountants Ripon
Eva Lett House
1 South Crescent
Ripon
North Yorkshire
HG4 1SN

Watsons Of Brandsby Limited (Registered number: 04770863)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 551,699 445,282
Investment property 5 120,000 120,000
671,699 565,282

CURRENT ASSETS
Stocks 82,971 -
Debtors 6 297,519 534,788
Investments 7 858 827
Cash at bank 41,465 -
422,813 535,615
CREDITORS
Amounts falling due within one year 8 427,406 504,140
NET CURRENT (LIABILITIES)/ASSETS (4,593 ) 31,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

667,106

596,757

CREDITORS
Amounts falling due after more than one year 9 - (23,564 )

PROVISIONS FOR LIABILITIES (41,926 ) (44,321 )
NET ASSETS 625,180 528,872

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 127,416 -
Retained earnings 496,764 527,872
625,180 528,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Watsons Of Brandsby Limited (Registered number: 04770863)

Balance Sheet - continued
31 May 2023


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 5 October 2023 and were signed on its behalf by:





E Watson - Director


Watsons Of Brandsby Limited (Registered number: 04770863)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Watsons Of Brandsby 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on reducing balance

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Watsons Of Brandsby Limited (Registered number: 04770863)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 451,379 648,660 1,100,039
Additions - 5,771 5,771
Revaluations 127,416 - 127,416
At 31 May 2023 578,795 654,431 1,233,226
DEPRECIATION
At 1 June 2022 178,795 475,962 654,757
Charge for year - 26,770 26,770
At 31 May 2023 178,795 502,732 681,527
NET BOOK VALUE
At 31 May 2023 400,000 151,699 551,699
At 31 May 2022 272,584 172,698 445,282

Cost or valuation at 31 May 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 127,416 - 127,416
Cost 451,379 654,431 1,105,810
578,795 654,431 1,233,226

Watsons Of Brandsby Limited (Registered number: 04770863)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 47,500
DEPRECIATION
At 1 June 2022 22,340
Charge for year 3,774
At 31 May 2023 26,114
NET BOOK VALUE
At 31 May 2023 21,386
At 31 May 2022 25,160

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 120,000
NET BOOK VALUE
At 31 May 2023 120,000
At 31 May 2022 120,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 253,765 438,041
Other debtors 43,754 96,747
297,519 534,788

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Current asset investment 858 827

Watsons Of Brandsby Limited (Registered number: 04770863)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 62,634
Hire purchase contracts 7,500 7,500
Trade creditors 395,266 400,088
Taxation and social security 23,352 33,644
Other creditors 1,288 274
427,406 504,140

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 16,064
Hire purchase contracts - 7,500
- 23,564

10. RESERVES
Revaluation
reserve
£   
Revaluation 127,416

At 31 May 2023 127,416