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REGISTERED NUMBER: 02016960 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

WATTS CONSTRUCTION LTD

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WATTS CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mr T J Varrall
Mrs D Varrall





REGISTERED OFFICE: Unit 1, Beacon Works
101-109 Beacon Road
Chatham
Kent
ME5 7BP





REGISTERED NUMBER: 02016960 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 189,701 235,542
Investments 5 561,522 561,522
751,223 797,064

CURRENT ASSETS
Debtors 6 220,639 811,579
Investments 7 700,000 700,000
Cash at bank 4,190,377 3,223,486
5,111,016 4,735,065
CREDITORS
Amounts falling due within one year 8 391,334 471,538
NET CURRENT ASSETS 4,719,682 4,263,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,470,905

5,060,591

PROVISIONS FOR LIABILITIES 32,534 41,245
NET ASSETS 5,438,371 5,019,346

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,438,271 5,019,246
SHAREHOLDERS' FUNDS 5,438,371 5,019,346

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

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

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 October 2023 and were signed on its behalf by:





Mr T J Varrall - Director


WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Watts Construction Ltd 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.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the year.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments
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 17 (2022 - 17 ) .

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 18,468 510,452 528,920
DEPRECIATION
At 1 May 2022 - 293,378 293,378
Charge for year - 45,841 45,841
At 30 April 2023 - 339,219 339,219
NET BOOK VALUE
At 30 April 2023 18,468 171,233 189,701
At 30 April 2022 18,468 217,074 235,542

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.23 30.4.22
£    £   
Fixed asset investments b/f 561,522 561,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 162,977 658,582
Other debtors 57,662 152,997
220,639 811,579

7. CURRENT ASSET INVESTMENTS
30.4.23 30.4.22
£    £   
Current asset investments 700,000 700,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 243,052 372,881
Taxation and social security 146,024 96,578
Other creditors 2,258 2,079
391,334 471,538

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T J Varrall.