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D & M WATT PROPERTIES LIMITED

Unaudited Financial Statements

for the Year Ended 30 April 2024






D & M WATT PROPERTIES LIMITED (REGISTERED NUMBER: 05103489)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

D & M WATT PROPERTIES LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D W N Watt-SNR
M A Watt



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 05103489 (England and Wales)



ACCOUNTANTS: Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: HSBC Bank plc
11 Sea View Street
Cleethorpes
East Lincolnshire
DN35 8EX

D & M WATT PROPERTIES LIMITED (REGISTERED NUMBER: 05103489)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,286,210 1,135,248

CURRENT ASSETS
Debtors 5 2,804 2,151
Cash at bank and in hand 158,948 232,915
161,752 235,066
CREDITORS
Amounts falling due within one year 6 62,270 66,307
NET CURRENT ASSETS 99,482 168,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,385,692

1,304,007

CREDITORS
Amounts falling due after more than one
year

7

620,000

620,000
NET ASSETS 765,692 684,007

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 765,592 683,907
SHAREHOLDERS' FUNDS 765,692 684,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:




M A Watt - Director


D & M WATT PROPERTIES LIMITED (REGISTERED NUMBER: 05103489)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

D & M Watt Properties Limited 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
The turnover represents rent receivable.

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 - 15% on reducing balance
Computer equipment - 33% on cost

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 2 (2023 - 2 ) .

D & M WATT PROPERTIES LIMITED (REGISTERED NUMBER: 05103489)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 1,061,198 64,464 27,375 1,532 1,154,569
Additions 145,040 - 6,894 1,500 153,434
At 30 April 2024 1,206,238 64,464 34,269 3,032 1,308,003
DEPRECIATION
At 1 May 2023 - - 17,790 1,531 19,321
Charge for year - - 2,472 - 2,472
At 30 April 2024 - - 20,262 1,531 21,793
NET BOOK VALUE
At 30 April 2024 1,206,238 64,464 14,007 1,501 1,286,210
At 30 April 2023 1,061,198 64,464 9,585 1 1,135,248

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 2,804 2,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors (1 ) -
Taxation and social security 22,871 48,697
Other creditors 39,400 17,610
62,270 66,307

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 620,000 620,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

D & M WATT PROPERTIES LIMITED (REGISTERED NUMBER: 05103489)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


9. RESERVES
Retained
earnings
£   

At 1 May 2023 683,907
Profit for the year 83,685
Dividends (2,000 )
At 30 April 2024 765,592

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
D & M Watt Properties Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D & M Watt Properties Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of D & M Watt Properties Limited, as a body, in accordance with the terms of our engagement letter dated 16 April 2004. Our work has been undertaken solely to prepare for your approval the financial statements of D & M Watt Properties Limited and state those matters that we have agreed to state to the Board of Directors of D & M Watt Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & M Watt Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that D & M Watt Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D & M Watt Properties Limited. You consider that D & M Watt Properties 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 financial statements of D & M Watt Properties 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 financial statements.






Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH


29 July 2024