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Company Registration No. 11342581 (England and Wales)
Watson & Hunter Specialised Vehicles Limited Unaudited accounts for the year ended 31 May 2024
Watson & Hunter Specialised Vehicles Limited Unaudited accounts Contents
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Watson & Hunter Specialised Vehicles Limited Company Information for the year ended 31 May 2024
Directors
A M Hunter M Watson
Company Number
11342581 (England and Wales)
Registered Office
Becklands Park Industrial Estate York Road Market Weighton East Yorkshire YO43 3GA United Kingdom
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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Watson & Hunter Specialised Vehicles Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
90,474 
101,842 
Current assets
Inventories
350,500 
263,250 
Debtors
131,869 
165,082 
Cash at bank and in hand
376,372 
585,793 
858,741 
1,014,125 
Creditors: amounts falling due within one year
(431,698)
(542,579)
Net current assets
427,043 
471,546 
Total assets less current liabilities
517,517 
573,388 
Creditors: amounts falling due after more than one year
(11,667)
(21,667)
Provisions for liabilities
Deferred tax
(17,190)
(19,350)
Net assets
488,660 
532,371 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
488,560 
532,271 
Shareholders' funds
488,660 
532,371 
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by
A M Hunter Director Company Registration No. 11342581
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Watson & Hunter Specialised Vehicles Limited is a private company, limited by shares, registered in England and Wales, registration number 11342581. The registered office is Becklands Park Industrial Estate, York Road, Market Weighton, East Yorkshire, YO43 3GA, 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.
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.
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
20% on a reducing balance
Motor vehicles
20% on a reducing balance
Fixtures & fittings
20% on a reducing balance
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
45,557 
61,319 
64,670 
171,546 
Additions
- 
9,000 
- 
9,000 
At 31 May 2024
45,557 
70,319 
64,670 
180,546 
Depreciation
At 1 June 2023
29,861 
37,687 
2,156 
69,704 
Charge for the year
3,139 
4,726 
12,503 
20,368 
At 31 May 2024
33,000 
42,413 
14,659 
90,072 
Net book value
At 31 May 2024
12,557 
27,906 
50,011 
90,474 
At 31 May 2023
15,696 
23,632 
62,514 
101,842 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
65,352 
94,602 
Other debtors
66,517 
70,480 
131,869 
165,082 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
36,231 
836 
Obligations under finance leases and hire purchase contracts
- 
2,020 
Trade creditors
95,399 
46,149 
Taxes and social security
19,568 
55,960 
Other creditors
60,000 
57,839 
Accruals
33,000 
59,775 
Deferred income
177,500 
310,000 
431,698 
542,579 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
11,667 
21,667 
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Watson & Hunter Specialised Vehicles Limited Notes to the Accounts for the year ended 31 May 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
A M Hunter
Loan
29,377 
27,747 
29,377 
27,747 
M Watson
Loan
41,103 
38,770 
41,103 
38,770 
70,480 
66,517 
70,480 
66,517 
The loan balances will be cleared at 31 October 2024 with directors' bonuses.
9
Transactions with related parties
During the year rent was paid to the directors' joint property account for the use of the factory unit utilised by the company, that the directors own in joint names. The amount of rent charged was £60,000 (2023 : £60,000) with a further £50,000 accrued in 2023 for back rent due to a change in previous rental agreement. There were no amounts outstanding at either the 2024 or 2023 financial year end.
10
Average number of employees
During the year the average number of employees was 23 (2023: 20).
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