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REGISTERED NUMBER: 11077358 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Watson Inns Ltd

Watson Inns Ltd (Registered number: 11077358)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Watson Inns Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs J L Watson
Mr T J Watson





REGISTERED OFFICE: 2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET





REGISTERED NUMBER: 11077358 (England and Wales)





ACCOUNTANTS: Accounting Solutions
2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET

Watson Inns Ltd (Registered number: 11077358)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 645,799 650,570
645,799 650,570

CURRENT ASSETS
Stocks 6,540 5,014
Debtors 6 18,461 16,844
Cash at bank and in hand 10,198 32,778
35,199 54,636
CREDITORS
Amounts falling due within one year 7 632,433 663,971
NET CURRENT LIABILITIES (597,234 ) (609,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,565

41,235

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48,465 41,135
SHAREHOLDERS' FUNDS 48,565 41,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Watson Inns Ltd (Registered number: 11077358)

Balance Sheet - continued
30 November 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 29 August 2024 and were signed on its behalf by:




Mr T J Watson - Director



Mrs J L Watson - Director


Watson Inns Ltd (Registered number: 11077358)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Watson Inns 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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 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.

Watson Inns Ltd (Registered number: 11077358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 20,000
AMORTISATION
At 1 December 2022
and 30 November 2023 20,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 December 2022 627,656 15,548 8,568
Additions - - 1,550
At 30 November 2023 627,656 15,548 10,118
DEPRECIATION
At 1 December 2022 - 6,219 4,829
Charge for year - 3,110 1,322
At 30 November 2023 - 9,329 6,151
NET BOOK VALUE
At 30 November 2023 627,656 6,219 3,967
At 30 November 2022 627,656 9,329 3,739

Watson Inns Ltd (Registered number: 11077358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 50,437 2,680 704,889
Additions - 119 1,669
At 30 November 2023 50,437 2,799 706,558
DEPRECIATION
At 1 December 2022 40,591 2,680 54,319
Charge for year 1,969 39 6,440
At 30 November 2023 42,560 2,719 60,759
NET BOOK VALUE
At 30 November 2023 7,877 80 645,799
At 30 November 2022 9,846 - 650,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 18,461 16,844

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 395,523 409,740
Trade creditors 38,270 26,387
Taxation and social security 24,383 22,370
Other creditors 174,257 205,474
632,433 663,971

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company was under the control of the director's throughout the period as stated in the report of the director's.

Interest is charged on the overdrawn directors' loan account balances at the official rate of 2.00% until 5 April 2023 and 2.25% thereafter.