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Company Registration No. 11342581 (England and Wales)
Watson & Hunter Specialised Vehicles Limited Unaudited accounts for the year ended 31 May 2023
Watson & Hunter Specialised Vehicles Limited Unaudited accounts Contents
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Watson & Hunter Specialised Vehicles Limited Company Information for the year ended 31 May 2023
Directors
A M Hunter M Watson
Company Number
11342581 (England and Wales)
Registered Office
Becklands Park Industrial Estate York Road Market Weighton East Yorkshire YO43 3GA United Kingdom
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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Watson & Hunter Specialised Vehicles Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
101,842 
49,160 
Current assets
Inventories
263,250 
202,000 
Debtors
165,082 
433,493 
Cash at bank and in hand
585,793 
201,007 
1,014,125 
836,500 
Creditors: amounts falling due within one year
(542,579)
(460,872)
Net current assets
471,546 
375,628 
Total assets less current liabilities
573,388 
424,788 
Creditors: amounts falling due after more than one year
(21,667)
(50,567)
Provisions for liabilities
Deferred tax
(19,350)
(9,341)
Net assets
532,371 
364,880 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
532,271 
364,780 
Shareholders' funds
532,371 
364,880 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by
A M Hunter Director Company Registration No. 11342581
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Watson & Hunter Specialised Vehicles Limited is a private company, limited by shares, registered in England and Wales, registration number 11342581. The registered office is Becklands Park Industrial Estate, York Road, Market Weighton, East Yorkshire, YO43 3GA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on a reducing balance
Motor vehicles
20% on a reducing balance
Fixtures & fittings
20% on a reducing balance
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
45,557 
61,319 
- 
106,876 
Additions
- 
- 
64,670 
64,670 
At 31 May 2023
45,557 
61,319 
64,670 
171,546 
Depreciation
At 1 June 2022
25,937 
31,779 
- 
57,716 
Charge for the year
3,924 
5,908 
2,156 
11,988 
At 31 May 2023
29,861 
37,687 
2,156 
69,704 
Net book value
At 31 May 2023
15,696 
23,632 
62,514 
101,842 
At 31 May 2022
19,620 
29,540 
- 
49,160 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
94,602 
405,695 
Accrued income and prepayments
- 
15,930 
Other debtors
70,480 
11,868 
165,082 
433,493 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
836 
16,864 
Obligations under finance leases and hire purchase contracts
2,020 
8,008 
Trade creditors
46,149 
104,986 
Taxes and social security
55,960 
56,897 
Other creditors
57,839 
6,667 
Accruals
59,775 
6,650 
Deferred income
310,000 
250,800 
542,579 
460,872 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
21,667 
31,849 
Obligations under finance leases and hire purchase contracts
- 
18,718 
21,667 
50,567 
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
A M Hunter
Loan
254 
29,123 
- 
29,377 
M Watson
Loan
11,614 
29,489 
- 
41,103 
11,868 
58,612 
- 
70,480 
The loan balances will be cleared at 31 October 2023 with directors' bonuses voted on 13 October 2023.
9
Transactions with related parties
During the year rent was paid to the directors' joint property account for the use of the factory unit utilised by the company, that the directors own in joint names. The amount of rent charged was £60,000 (2022 : £60,000) with a further £50,000 accrued in 2023 for back rent due to a change in previous rental agreement. There were no amounts outstanding at either the 2023 or 2022 financial year end.
10
Average number of employees
During the year the average number of employees was 20 (2022: 19).
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