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REGISTERED NUMBER: 00567031 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2022

for

Fred Watkins (Estates) Limited

Fred Watkins (Estates) Limited (Registered number: 00567031)






Contents of the Financial Statements
for the Year Ended 30 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fred Watkins (Estates) Limited

Company Information
for the Year Ended 30 June 2022







DIRECTORS: Mrs T Watkins
Mr P B Watkins





REGISTERED OFFICE: New Dunn Business Park
Sling
Coleford
Gloucestershire
GL16 8JD





REGISTERED NUMBER: 00567031 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

Fred Watkins (Estates) Limited (Registered number: 00567031)

Balance Sheet
30 June 2022

30.6.22 30.6.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 312,530 357,817
Investment property 5 2,963,536 2,963,536
3,276,066 3,321,353

CURRENT ASSETS
Stocks 6 275,000 290,000
Debtors 7 1,243,634 1,042,219
Cash at bank 2 3,231
1,518,636 1,335,450
CREDITORS
Amounts falling due within one year 8 730,437 480,964
NET CURRENT ASSETS 788,199 854,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,064,265

4,175,839

CREDITORS
Amounts falling due after more than one
year

9

1,572,345

1,650,574
NET ASSETS 2,491,920 2,525,265

CAPITAL AND RESERVES
Called up share capital 11 2 2
Non-distributable profit reserve 12 512,130 512,130
Retained earnings 12 1,979,788 2,013,133
SHAREHOLDERS' FUNDS 2,491,920 2,525,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

Fred Watkins (Estates) Limited (Registered number: 00567031)

Balance Sheet - continued
30 June 2022


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 20 June 2023 and were signed on its behalf by:





Mr P B Watkins - Director


Fred Watkins (Estates) Limited (Registered number: 00567031)

Notes to the Financial Statements
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

Fred Watkins (Estates) 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.

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 - 5% on cost
Fixtures and fittings - 7% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

Fred Watkins (Estates) Limited (Registered number: 00567031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2021 564,096 56,835 322,854 1,423 945,208
Disposals (3,000 ) - (1,500 ) - (4,500 )
At 30 June 2022 561,096 56,835 321,354 1,423 940,708
DEPRECIATION
At 1 July 2021 269,127 52,494 264,347 1,423 587,391
Charge for year 30,333 327 14,627 - 45,287
Eliminated on disposal (3,000 ) - (1,500 ) - (4,500 )
At 30 June 2022 296,460 52,821 277,474 1,423 628,178
NET BOOK VALUE
At 30 June 2022 264,636 4,014 43,880 - 312,530
At 30 June 2021 294,969 4,341 58,507 - 357,817

Fred Watkins (Estates) Limited (Registered number: 00567031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2021
and 30 June 2022 68,400
DEPRECIATION
At 1 July 2021 29,925
Charge for year 9,619
At 30 June 2022 39,544
NET BOOK VALUE
At 30 June 2022 28,856
At 30 June 2021 38,475

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2021
and 30 June 2022 2,963,536
NET BOOK VALUE
At 30 June 2022 2,963,536
At 30 June 2021 2,963,536

The directors do not consider the fair value of the investment properties to have changed significantly during the year.

6. STOCKS
30.6.22 30.6.21
£    £   
Stocks 275,000 290,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Trade debtors 175,255 218,156
Other debtors 1,068,379 824,063
1,243,634 1,042,219

Fred Watkins (Estates) Limited (Registered number: 00567031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Bank loans and overdrafts 51,887 25,070
Other loans 425,987 268,937
Hire purchase contracts 39,837 33,819
Trade creditors 58,880 54,507
Social security and other taxes 26,191 28,449
VAT 110,655 55,182
Accrued expenses 17,000 15,000
730,437 480,964

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.22 30.6.21
£    £   
Bank loans - 1-5 years 142,770 141,066
Bank loans more than 5 years 803,452 828,974
Other loans - over 1 year 562,000 555,866
Directors loan account 40,744 101,289
Hire purchase contracts 23,379 23,379
1,572,345 1,650,574

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 803,452 828,974

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.22 30.6.21
£    £   
Bank loans 998,109 995,110
Other loans 987,987 824,803
Hire purchase contracts 63,216 57,198
2,049,312 1,877,111

The bank and other loans are secured upon the assets of the company. The hire purchase contracts are secured upon the fixed assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.22 30.6.21
value: £    £   
20 Ordinary £0.10 2 2

Fred Watkins (Estates) Limited (Registered number: 00567031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

12. RESERVES
Non-distributable
Retained profit
earnings reserve Totals
£    £    £   

At 1 July 2021 2,013,133 512,130 2,525,263
Deficit for the year (33,345 ) (33,345 )
At 30 June 2022 1,979,788 512,130 2,491,918

13. RELATED PARTY DISCLOSURES

During the year a director, Mr P B Watkins, made net withdrawals from his account of £60,545. The balance on his account at 30 June 2022 was £40,744 in credit (2021 - £101,289).

14. ULTIMATE CONTROLLING PARTY

Mr P B Watkins is the ultimate controlling party by virtue of his holding all of the company's issued share capital.