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REGISTERED NUMBER: 10844870 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

WATKINS BROTHERS LTD

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATKINS BROTHERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: J Watkins
R B Watkins





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 10844870 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 671 -
Investment property 5 1,115,000 1,045,000
1,115,671 1,045,000

CURRENT ASSETS
Cash at bank 61,373 40,123

CREDITORS
Amounts falling due within one year 6 81,696 157,704
NET CURRENT LIABILITIES (20,323 ) (117,581 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,095,348

927,419

CREDITORS
Amounts falling due after more than one
year

7

(697,838

)

(600,363

)

PROVISIONS FOR LIABILITIES 10 (81,591 ) (71,929 )
NET ASSETS 315,919 255,127

CAPITAL AND RESERVES
Called up share capital 11 2 2
Non Distributable reserve 12 346,842 305,648
Retained earnings 12 (30,925 ) (50,523 )
SHAREHOLDERS' FUNDS 315,919 255,127

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

BALANCE SHEET - continued
30 JUNE 2023


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 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:




J Watkins - Director



R B Watkins - Director


WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

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

1. STATUTORY INFORMATION

Watkins Brothers 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 as modified by the revaluation of certain assets.

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.
Computer equipment - 33% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 2 (2022 - 2 ) .

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 929
At 30 June 2023 929
DEPRECIATION
Charge for year 258
At 30 June 2023 258
NET BOOK VALUE
At 30 June 2023 671

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 1,045,000
Additions 19,143
Revaluations 50,857
At 30 June 2023 1,115,000
NET BOOK VALUE
At 30 June 2023 1,115,000
At 30 June 2022 1,045,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2018 83,143
Valuation in 2019 21,145
Valuation in 2020 39,591
Valuation in 2021 151,287
Valuation in 2022 83,406
Valuation in 2023 50,856
Cost 685,572
1,115,000

Investment properties have been revalued by the directors based on currently available market data.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 8) - 72,000
Directors' current accounts 80,696 84,774
Accrued expenses 1,000 930
81,696 157,704

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 697,838 600,363

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 697,838 600,363

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans - 72,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 697,838 600,363

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 697,838 600,363

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 81,591 71,929

Deferred
tax
£   
Balance at 1 July 2022 71,929
Provided during year 9,662
Balance at 30 June 2023 81,591

WATKINS BROTHERS LTD (REGISTERED NUMBER: 10844870)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Non
Retained Distributable
earnings reserve Totals
£    £    £   

At 1 July 2022 (50,523 ) 305,648 255,125
Profit for the year 60,792 60,792
Revaluation Transfer (50,857 ) 50,857 -
Deferred Tax Transfer 9,663 (9,663 ) -
At 30 June 2023 (30,925 ) 346,842 315,917