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REGISTERED NUMBER: 02016960 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

WATTS CONSTRUCTION LTD

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WATTS CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr T J Varrall
Mrs D Varrall





REGISTERED OFFICE: Unit 1, Beacon Works
101-109 Beacon Road
Chatham
Kent
ME5 7BP





REGISTERED NUMBER: 02016960 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,168,951 189,701
Investments 5 734,622 561,522
1,903,573 751,223

CURRENT ASSETS
Debtors 6 322,334 220,639
Investments 7 - 700,000
Cash at bank 3,714,676 4,190,377
4,037,010 5,111,016
CREDITORS
Amounts falling due within one year 8 429,631 391,334
NET CURRENT ASSETS 3,607,379 4,719,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,510,952

5,470,905

PROVISIONS FOR LIABILITIES 39,793 32,534
NET ASSETS 5,471,159 5,438,371

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,471,059 5,438,271
SHAREHOLDERS' FUNDS 5,471,159 5,438,371

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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 5 July 2024 and were signed on its behalf by:





Mr T J Varrall - Director


WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Watts Construction 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.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the year.

Property, plant and equipment
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 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 18,468 510,452 528,920
Additions 991,311 31,565 1,022,876
At 30 April 2024 1,009,779 542,017 1,551,796
DEPRECIATION
At 1 May 2023 - 339,219 339,219
Charge for year - 43,626 43,626
At 30 April 2024 - 382,845 382,845
NET BOOK VALUE
At 30 April 2024 1,009,779 159,172 1,168,951
At 30 April 2023 18,468 171,233 189,701

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.24 30.4.23
£    £   
Fixed asset investments b/f 561,522 561,522
Fixed asset investments additi 173,100 -
734,622 561,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 247,610 162,977
Other debtors 74,724 57,662
322,334 220,639

7. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Current asset investments - 700,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 328,494 243,052
Taxation and social security 98,116 146,024
Other creditors 3,021 2,258
429,631 391,334

WATTS CONSTRUCTION LTD (REGISTERED NUMBER: 02016960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T J Varrall.