A.T.Watkinson Limited 00721366 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is dealing in Jewellery and Antique and Modern Silver. Digita Accounts Production Advanced 6.30.9574.0 true true 00721366 2022-05-01 2023-04-30 00721366 2023-04-30 00721366 bus:OrdinaryShareClass1 2023-04-30 00721366 core:CurrentFinancialInstruments 2023-04-30 00721366 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 00721366 core:FurnitureFittingsToolsEquipment 2023-04-30 00721366 bus:SmallEntities 2022-05-01 2023-04-30 00721366 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 00721366 bus:FullAccounts 2022-05-01 2023-04-30 00721366 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 00721366 bus:RegisteredOffice 2022-05-01 2023-04-30 00721366 bus:Director1 2022-05-01 2023-04-30 00721366 bus:Director3 2022-05-01 2023-04-30 00721366 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 00721366 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 00721366 bus:Agent1 2022-05-01 2023-04-30 00721366 core:FurnitureFittings 2022-05-01 2023-04-30 00721366 countries:EnglandWales 2022-05-01 2023-04-30 00721366 2022-04-30 00721366 core:FurnitureFittingsToolsEquipment 2022-04-30 00721366 2021-05-01 2022-04-30 00721366 2022-04-30 00721366 bus:OrdinaryShareClass1 2022-04-30 00721366 core:CurrentFinancialInstruments 2022-04-30 00721366 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 00721366 core:FurnitureFittingsToolsEquipment 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00721366

A.T.Watkinson Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

A.T.Watkinson Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

A.T.Watkinson Limited

Company Information

Directors

R A D Watkinson

D G Watkinson

Registered office

20 First Floor
Britton Street
London
EC1M 5UA

Accountants

Rouse Accountants
Chartered Certified Accountants
10 Ardmore Way
Guildford
Surrey
GU2 9RR

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A.T.Watkinson Limited
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A.T.Watkinson Limited for the year ended 30 April 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of A.T.Watkinson Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A.T.Watkinson Limited and state those matters that we have agreed to state to the Board of Directors of A.T.Watkinson Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.T.Watkinson Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A.T.Watkinson Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A.T.Watkinson Limited. You consider that A.T.Watkinson Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A.T.Watkinson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Rouse Accountants
Chartered Certified Accountants
10 Ardmore Way
Guildford
Surrey
GU2 9RR

18 April 2024

 

A.T.Watkinson Limited

(Registration number: 00721366)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1

1

Current assets

 

Stocks

5

2,326,613

2,221,258

Debtors

6

24,528

18,908

Cash at bank and in hand

 

5,142

6,289

 

2,356,283

2,246,455

Creditors: Amounts falling due within one year

7

(343,815)

(314,311)

Net current assets

 

2,012,468

1,932,144

Net assets

 

2,012,469

1,932,145

Capital and reserves

 

Called up share capital

8

5,000

5,000

Retained earnings

2,007,469

1,927,145

Shareholders' funds

 

2,012,469

1,932,145

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 April 2024 and signed on its behalf by:
 

.........................................
D G Watkinson
Director

 

A.T.Watkinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 First Floor
Britton Street
London
EC1M 5UA

These financial statements were authorised for issue by the Board on 18 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

A.T.Watkinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Furniture and equipment is depreciated over two years.

Asset class

Depreciation method and rate

Furniture and Equipment

50% per annum straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

 

A.T.Watkinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 8).

 

A.T.Watkinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

11,381

11,381

At 30 April 2023

11,381

11,381

Depreciation

At 1 May 2022

11,380

11,380

At 30 April 2023

11,380

11,380

Carrying amount

At 30 April 2023

1

1

At 30 April 2022

1

1

5

stocks

2023
£

2022
£

Other inventories

2,326,613

2,221,258

The carrying amount of stocks pledged as security for liabilities amounted to £2,326,613 (2022 - £2,221,258).

6

debtors

Current

2023
£

2022
£

Trade debtors

-

-

Prepayments

24,528

18,908

 

24,528

18,908

 

A.T.Watkinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

176,650

100,807

Taxation and social security

 

78,619

110,079

Accruals and deferred income

 

7,700

63,600

Other creditors

 

80,846

39,825

 

343,815

314,311

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

5,000

5,000

5,000

5,000

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

176,650

100,807