CM Watson Lettings Limited 14010320 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of letting owned property. Digita Accounts Production Advanced 6.30.9574.0 true true 14010320 2023-04-01 2024-03-31 14010320 2024-03-31 14010320 core:RetainedEarningsAccumulatedLosses 2024-03-31 14010320 core:RevaluationReserve 2024-03-31 14010320 core:ShareCapital 2024-03-31 14010320 core:CurrentFinancialInstruments 2024-03-31 14010320 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14010320 core:Non-currentFinancialInstruments 2024-03-31 14010320 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14010320 core:FurnitureFittingsToolsEquipment 2024-03-31 14010320 core:LandBuildings 2024-03-31 14010320 bus:SmallEntities 2023-04-01 2024-03-31 14010320 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14010320 bus:FilletedAccounts 2023-04-01 2024-03-31 14010320 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14010320 bus:RegisteredOffice 2023-04-01 2024-03-31 14010320 bus:Director1 2023-04-01 2024-03-31 14010320 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14010320 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 14010320 core:LandBuildings 2023-04-01 2024-03-31 14010320 core:OfficeEquipment 2023-04-01 2024-03-31 14010320 countries:EnglandWales 2023-04-01 2024-03-31 14010320 2023-03-31 14010320 core:FurnitureFittingsToolsEquipment 2023-03-31 14010320 core:LandBuildings 2023-03-31 14010320 2022-03-29 2023-03-31 14010320 2023-03-31 14010320 core:RetainedEarningsAccumulatedLosses 2023-03-31 14010320 core:RevaluationReserve 2023-03-31 14010320 core:ShareCapital 2023-03-31 14010320 core:CurrentFinancialInstruments 2023-03-31 14010320 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14010320 core:Non-currentFinancialInstruments 2023-03-31 14010320 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 14010320 core:FurnitureFittingsToolsEquipment 2023-03-31 14010320 core:LandBuildings 2023-03-31 14010320 core:RevaluationReserve core:LandBuildings 2022-03-29 2023-03-31 14010320 core:LandBuildings 2022-03-29 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14010320

CM Watson Lettings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

CM Watson Lettings Limited

(Registration number: 14010320)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

294,199

294,299

Current assets

 

Cash at bank and in hand

 

5,447

2,756

Creditors: Amounts falling due within one year

5

(89,598)

(89,598)

Net current liabilities

 

(84,151)

(86,842)

Total assets less current liabilities

 

210,048

207,457

Creditors: Amounts falling due after more than one year

5

(212,125)

(210,000)

Net liabilities

 

(2,077)

(2,543)

Capital and reserves

 

Called up share capital

201

201

Revaluation reserve

490

490

Retained earnings

(2,768)

(3,234)

Shareholders' deficit

 

(2,077)

(2,543)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

 

CM Watson Lettings Limited

(Registration number: 14010320)
Balance Sheet as at 31 March 2024

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.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
Mr C Watson
Director

 

CM Watson Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
98 Eastcourt Lane
Gillingham
Kent
ME8 6HQ

These financial statements were authorised for issue by the Board on 28 August 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.

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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

CM Watson Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Office equipment

25% Straight Line

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.

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 and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

CM Watson Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

294,000

399

294,399

At 31 March 2024

294,000

399

294,399

Depreciation

At 1 April 2023

-

100

100

Charge for the year

-

100

100

At 31 March 2024

-

200

200

Carrying amount

At 31 March 2024

294,000

199

294,199

At 31 March 2023

294,000

299

294,299

Included within the net book value of land and buildings above is £294,000 (2023 - £294,000) in respect of freehold land and buildings.
 

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

73,598

73,598

Other creditors

 

16,000

16,000

 

89,598

89,598

6

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

490

490

 

CM Watson Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

212,125

210,000

Current loans and borrowings

2024
£

2023
£

Other borrowings

73,598

73,598