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REGISTERED NUMBER: 07120715 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Donnelly Watson Flooring Limited

Donnelly Watson Flooring Limited (Registered number: 07120715)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Donnelly Watson Flooring Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D Donnelly
Mr SL Watson





REGISTERED OFFICE: 10 Ladbrook Close
Elmsett
Ipswich
Suffolk
IP7 6LD





REGISTERED NUMBER: 07120715 (England and Wales)





ACCOUNTANTS: Emsdens Limited - Chartered Certified Accountants
Ladbrook Close
Elmsett
Ipswich
Suffolk
IP7 6LD

Donnelly Watson Flooring Limited (Registered number: 07120715)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,014 42,236
Investment property 5 538,386 613,547
571,400 655,783

CURRENT ASSETS
Stocks 1,000 500
Debtors 6 95,927 128,307
Cash at bank 257,670 247,486
354,597 376,293
CREDITORS
Amounts falling due within one year 7 205,826 310,681
NET CURRENT ASSETS 148,771 65,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

720,171

721,395

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(25,000

)

PROVISIONS FOR LIABILITIES (6,273 ) (8,025 )
NET ASSETS 698,898 688,370

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 698,894 688,366
SHAREHOLDERS' FUNDS 698,898 688,370

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

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

Donnelly Watson Flooring Limited (Registered number: 07120715)

Statement of Financial Position - continued
31 December 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 Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:




Mr D Donnelly - Director



Mr SL Watson - Director


Donnelly Watson Flooring Limited (Registered number: 07120715)

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

1. STATUTORY INFORMATION

Donnelly Watson Flooring 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
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.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Donnelly Watson Flooring Limited (Registered number: 07120715)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 95,998
Additions 729
At 31 December 2023 96,727
DEPRECIATION
At 1 January 2023 53,762
Charge for year 9,951
At 31 December 2023 63,713
NET BOOK VALUE
At 31 December 2023 33,014
At 31 December 2022 42,236

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 613,547
Additions 82,035
Disposals (157,196 )
At 31 December 2023 538,386
NET BOOK VALUE
At 31 December 2023 538,386
At 31 December 2022 613,547

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 78,813 118,122
Other debtors 17,114 10,185
95,927 128,307

Donnelly Watson Flooring Limited (Registered number: 07120715)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 124,062
Trade creditors 52,137 39,099
Taxation and social security 141,676 142,630
Other creditors 2,013 4,890
205,826 310,681

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,000 25,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,000 25,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 25,000 149,062

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4 Ordinary £1 4 4

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr SL Watson.

The ultimate controlling party is Mr SL Watson.