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REGISTERED NUMBER: 08465116 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S J Moore
G D Slater
R C Harris
I D Hamblyn
J C Males
M R Sellings
P Severn
S W Chown
S M Vine
G Hiller-Jones





SECRETARY: S J Moore





REGISTERED OFFICE: 30-34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 08465116 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 416,411 435,219
416,411 435,219

CURRENT ASSETS
Stocks 816,958 810,691
Debtors 6 1,333,654 1,128,269
Cash at bank and in hand 273,967 304,858
2,424,579 2,243,818
CREDITORS
Amounts falling due within one year 7 (1,029,097 ) (976,444 )
NET CURRENT ASSETS 1,395,482 1,267,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,811,893

1,702,593

CREDITORS
Amounts falling due after more than one
year

8

(1,637,233

)

(1,528,033

)
NET ASSETS 174,660 174,560

CAPITAL AND RESERVES
Called up share capital 11,110 11,110
Share premium 163,450 163,450
Retained earnings 100 -
SHAREHOLDERS' FUNDS 174,660 174,560

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

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

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)

BALANCE SHEET - continued
31 MARCH 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 9 October 2023 and were signed on its behalf by:





S J Moore - Director


WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Watson Associates (Professional Services) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2022 - 70 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 2,150,001
AMORTISATION
At 1 April 2022
and 31 March 2023 2,150,001
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 69,213 145,789 393,736 812,935 1,421,673
Additions - 12,248 25,872 14,213 52,333
At 31 March 2023 69,213 158,037 419,608 827,148 1,474,006
DEPRECIATION
At 1 April 2022 13,842 96,145 258,031 618,436 986,454
Charge for year 6,921 4,964 20,356 38,900 71,141
At 31 March 2023 20,763 101,109 278,387 657,336 1,057,595
NET BOOK VALUE
At 31 March 2023 48,450 56,928 141,221 169,812 416,411
At 31 March 2022 55,371 49,644 135,705 194,499 435,219

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,038,907 911,941
Other debtors 294,747 216,328
1,333,654 1,128,269

WATSON ASSOCIATES (PROFESSIONAL
SERVICES) LIMITED (REGISTERED NUMBER: 08465116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 103,160 103,160
Trade creditors 97,939 84,184
Taxation and social security 827,998 789,100
1,029,097 976,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 105,288 212,413
Other creditors 1,531,945 1,315,620
1,637,233 1,528,033