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REGISTERED NUMBER: 07814177 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Great British Watch Company Ltd.

Great British Watch Company Ltd. (Registered number: 07814177)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Great British Watch Company Ltd.

Company Information
for the Year Ended 31 October 2023







Director: C Andrews





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 07814177 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Great British Watch Company Ltd. (Registered number: 07814177)

Statement of Financial Position
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 31,452 15,108

Current assets
Stocks 21,000 19,987
Debtors 5 33,582 11,200
Cash at bank 107,052 44,473
161,634 75,660
Creditors
Amounts falling due within one year 6 145,255 91,551
Net current assets/(liabilities) 16,379 (15,891 )
Total assets less current liabilities 47,831 (783 )

Provisions for liabilities 4,298 2,871
Net assets/(liabilities) 43,533 (3,654 )

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 42,533 (4,654 )
43,533 (3,654 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Great British Watch Company Ltd. (Registered number: 07814177)

Statement of Financial Position - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2024 and were signed by:





C Andrews - Director


Great British Watch Company Ltd. (Registered number: 07814177)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. Statutory information

Great British Watch Company 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.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Profit is recognised on long-term contracts if the final outcome can be assessed with
reasonable certainty, by including in the profit and loss account turnover and related costs as
contract activity advances.

Long term contracts
Amounts recoverable on long term contracts are included in debtors and are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 50% on cost, 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Great British Watch Company Ltd. (Registered number: 07814177)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. Employees and directors

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

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 November 2022 20,244
Additions 27,255
At 31 October 2023 47,499
Depreciation
At 1 November 2022 5,136
Charge for year 10,911
At 31 October 2023 16,047
Net book value
At 31 October 2023 31,452
At 31 October 2022 15,108

Great British Watch Company Ltd. (Registered number: 07814177)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. Debtors: amounts falling due within one year
31/10/23 31/10/22
£    £   
Amounts recoverable on contracts 24,504 11,200
Other debtors 9,078 -
33,582 11,200

6. Creditors: amounts falling due within one year
31/10/23 31/10/22
£    £   
Payments on account 36,984 27,750
Taxation and social security 21,731 3,074
Other creditors 86,540 60,727
145,255 91,551

7. Related party disclosures

The director has made loans to the company. The balance on these loans at 31 October 2023 was £84,834 (2022 £50,527). The loans are interest-free and repayable on demand