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REGISTERED NUMBER: SC379917 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Watchman Property Company Ltd

Watchman Property Company Ltd (Registered number: SC379917)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Watchman Property Company Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P Fraser
P Fraser





REGISTERED OFFICE: Station House
Monymusk
Aberdeenshire
AB51 7HR





REGISTERED NUMBER: SC379917 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Watchman Property Company Ltd (Registered number: SC379917)

Report of the Directors
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

P Fraser
P Fraser

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Fraser - Director


6 September 2023

Watchman Property Company Ltd (Registered number: SC379917)

Income Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

TURNOVER - -

Administrative expenses 14,472 13,329
(14,472 ) (13,329 )

Other operating income 19,371 21,743
OPERATING PROFIT 4 4,899 8,414

Interest receivable and similar income 846 233
PROFIT BEFORE TAXATION 5,745 8,647

Tax on profit 1,348 1,787
PROFIT FOR THE FINANCIAL YEAR 4,397 6,860

Watchman Property Company Ltd (Registered number: SC379917)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,100 5,450
Investment property 6 299,115 299,115
303,215 304,565

CURRENT ASSETS
Debtors 7 457 756
Cash at bank 86,596 80,533
87,053 81,289
CREDITORS
Amounts falling due within one year 8 383,988 379,971
NET CURRENT LIABILITIES (296,935 ) (298,682 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,280

5,883

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,180 5,783
SHAREHOLDERS' FUNDS 6,280 5,883

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2023 and were signed on its behalf by:





P Fraser - Director


Watchman Property Company Ltd (Registered number: SC379917)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Watchman Property Company Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.23 30.6.22
£    £   
Depreciation - owned assets 1,350 1,810

Watchman Property Company Ltd (Registered number: SC379917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 12,164
DEPRECIATION
At 1 July 2022 6,714
Charge for year 1,350
At 30 June 2023 8,064
NET BOOK VALUE
At 30 June 2023 4,100
At 30 June 2022 5,450

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 299,115
NET BOOK VALUE
At 30 June 2023 299,115
At 30 June 2022 299,115

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 457 756

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 1,348 1,787
Other creditors 382,640 378,184
383,988 379,971