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Company Registration No. 11835521 (England and Wales)
John Watson Electrical Services Limited Unaudited accounts for the year ended 29 February 2024
John Watson Electrical Services Limited Unaudited accounts Contents
Page
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John Watson Electrical Services Limited Company Information for the year ended 29 February 2024
Director
John Anthony Watson
Company Number
11835521 (England and Wales)
Registered Office
DUKE HOUSE DUKE STREET SKIPTON NORTH YORKSHIRE BD23 2HQ UNITED KINGDOM
Accountants
Goodbooks (Skipton) Ltd Duke House Duke Street Skipton North Yorkshire BD23 2HQ
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John Watson Electrical Services Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,585 
8,869 
Current assets
Debtors
53,561 
43,519 
Cash at bank and in hand
60,820 
23,583 
114,381 
67,102 
Creditors: amounts falling due within one year
(84,066)
(43,949)
Net current assets
30,315 
23,153 
Total assets less current liabilities
54,900 
32,022 
Creditors: amounts falling due after more than one year
(10,625)
(19,375)
Provisions for liabilities
Deferred tax
(4,671)
(1,684)
Net assets
39,604 
10,963 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
39,603 
10,962 
Shareholders' funds
39,604 
10,963 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 April 2024 and were signed on its behalf by
John Anthony Watson Director Company Registration No. 11835521
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John Watson Electrical Services Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
John Watson Electrical Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11835521. The registered office is DUKE HOUSE, DUKE STREET, SKIPTON, NORTH YORKSHIRE, BD23 2HQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight Line
Motor vehicles
25% Straight Line
Computer equipment
3 years
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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John Watson Electrical Services Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
5,832 
17,500 
23,332 
Additions
1,205 
23,517 
24,722 
Revaluations
- 
(17,500)
(17,500)
At 29 February 2024
7,037 
23,517 
30,554 
Depreciation
At 1 March 2023
4,255 
10,208 
14,463 
Charge for the year
1,224 
4,865 
6,089 
On disposals
- 
(14,583)
(14,583)
At 29 February 2024
5,479 
490 
5,969 
Net book value
At 29 February 2024
1,558 
23,027 
24,585 
At 28 February 2023
1,577 
7,292 
8,869 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,105 
419 
Trade debtors
2,018 
24,737 
Accrued income and prepayments
1,290 
1,084 
Other debtors
47,148 
17,279 
53,561 
43,519 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,500 
7,500 
Trade creditors
32,083 
14,305 
Taxes and social security
22,653 
22,144 
Accruals
21,830 
- 
84,066 
43,949 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,625 
19,375 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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