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REGISTERED NUMBER: 02670477 (England and Wales)










J.H. WATSON PROPERTY INVESTMENT
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023






J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

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










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 5


J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 564 788
Investments 5 100 100
Investment property 6 1,935,349 2,026,359
1,936,013 2,027,247

CURRENT ASSETS
Debtors 7 34,388 74,572
Cash at bank 515,962 179,574
550,350 254,146
CREDITORS
Amounts falling due within one year 8 95,939 124,695
NET CURRENT ASSETS 454,411 129,451
TOTAL ASSETS LESS CURRENT LIABILITIES 2,390,424 2,156,698

PROVISIONS FOR LIABILITIES 30,295 24,393
NET ASSETS 2,360,129 2,132,305

CAPITAL AND RESERVES
Called up share capital 9 100 100
Non-distributable 223,856 270,849
Retained earnings 2,136,173 1,861,356
SHAREHOLDERS' FUNDS 2,360,129 2,132,305

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

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

J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

BALANCE SHEET - continued
30TH APRIL 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 13th October 2023 and were signed on its behalf by:




J H Watson - Director



E L Watson - Director


J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

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


1. STATUTORY INFORMATION

J.H. Watson Property Investment Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are when the outcome of a transaction can be estimated reliably, turnover from the amounts invoiced for freehold ground rents is recognised by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery etc.- 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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.


J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

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


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2022
and 30th April 2023 25,898
DEPRECIATION
At 1st May 2022 25,110
Charge for year 224
At 30th April 2023 25,334
NET BOOK VALUE
At 30th April 2023 564
At 30th April 2022 788

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st May 2022
and 30th April 2023 100
NET BOOK VALUE
At 30th April 2023 100
At 30th April 2022 100

J.H. WATSON PROPERTY INVESTMENT
LIMITED (REGISTERED NUMBER: 02670477)

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


5. FIXED ASSET INVESTMENTS - continued


The company's investments at the Balance Sheet date in the share capital of companies include the following:

J H Watson Residential Property Investment Ltd
Registered office: Glendevon House, 4 Hawthorn Park, Leeds, United Kingdom, LS14 1PQ
Nature of business: Letting and operating of own or leased real estate
%
Class of shares: holding
Ordinary 100.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2022 2,026,359
Additions 184,289
Disposals (234,399 )
Movement in fair value (40,900 )
At 30th April 2023 1,935,349
NET BOOK VALUE
At 30th April 2023 1,935,349
At 30th April 2022 2,026,359

The historic cost equivalent of investment properties included at fair value is £1,830,770 (2022: £1,876,155). The directors believe that the valuation of investment properties at the reporting date correctly reflects their fair value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,749 52,277
Other debtors 3,639 22,295
34,388 74,572

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,094 30,452
Taxation and social security 60,261 57,966
Other creditors 32,584 36,277
95,939 124,695

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100