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REGISTERED NUMBER: SC536710 (Scotland)















Watson Plumbing and Property
Maintenance Ltd

Financial Statements For The Year Ended 31 May 2023






Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)






Contents of the Financial Statements
For The Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Watson Plumbing and Property
Maintenance Ltd

Company Information
For The Year Ended 31 May 2023







DIRECTOR: Mr A W Watson



REGISTERED OFFICE: 46 Glenlossie Road
Thomshill
Elgin
IV30 8GY



REGISTERED NUMBER: SC536710 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Royal Bank of Scotland
209 High Street
Elgin
Moray
IV30 1DL

Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,300 4,400
Tangible assets 5 8,361 8,567
11,661 12,967

CURRENT ASSETS
Stocks 1,480 260
Debtors 6 2,847 7,188
Cash at bank 8,537 9,118
12,864 16,566
CREDITORS
Amounts falling due within one year 7 13,074 13,627
NET CURRENT (LIABILITIES)/ASSETS (210 ) 2,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,451

15,906

CREDITORS
Amounts falling due after more than one
year

8

(3,991

)

(5,741

)

PROVISIONS FOR LIABILITIES 9 (1,589 ) (1,628 )
NET ASSETS 5,871 8,537

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 5,771 8,437
SHAREHOLDERS' FUNDS 5,871 8,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Balance Sheet - continued
31 May 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 director and authorised for issue on 8 February 2024 and were signed by:





Mr A W Watson - Director


Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Notes to the Financial Statements
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Watson Plumbing and Property Maintenance 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Equipment - 33% on cost, 25% on reducing balance and 15% on reducing balance

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.

Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 11,000
AMORTISATION
At 1 June 2022 6,600
Charge for year 1,100
At 31 May 2023 7,700
NET BOOK VALUE
At 31 May 2023 3,300
At 31 May 2022 4,400

5. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 540 7,572 14,408 2,315 24,835
Additions - 2,021 - 633 2,654
Disposals - (1,875 ) - (1,643 ) (3,518 )
At 31 May 2023 540 7,718 14,408 1,305 23,971
DEPRECIATION
At 1 June 2022 323 3,067 10,989 1,889 16,268
Charge for year 54 740 879 441 2,114
Eliminated on disposal - (1,132 ) - (1,640 ) (2,772 )
At 31 May 2023 377 2,675 11,868 690 15,610
NET BOOK VALUE
At 31 May 2023 163 5,043 2,540 615 8,361
At 31 May 2022 217 4,505 3,419 426 8,567

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,188 4,862
Other debtors 659 2,326
2,847 7,188

Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 1,177 445
Taxation and social security 5,178 5,514
Other creditors 6,719 7,668
13,074 13,627

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 3,991 5,741

9. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 1,589 1,628

Deferred
tax
£   
Balance at 1 June 2022 1,628
Provided during year (39 )
Balance at 31 May 2023 1,589

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
95 Ordinary £1 95 95
5 A Ordinary £1 5 5
100 100

11. RESERVES
Retained
earnings
£   

At 1 June 2022 8,437
Profit for the year 15,834
Dividends (18,500 )
At 31 May 2023 5,771

Watson Plumbing and Property
Maintenance Ltd (Registered number: SC536710)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,500 were paid to the director .

At 31 May 2022 the company owed the director £4,061. During the year the company met expenses on behalf of the director totalling £3,631. At 31 May 2023 the company owed the director £430. This loan is interest free and has no fixed repayment terms.