2023-04-012024-03-312024-03-31false09810034FG Watch Group Ltd2024-09-20iso4217:GBPxbrli:pure098100342023-04-01098100342024-03-31098100342023-04-012024-03-31098100342022-04-01098100342023-03-31098100342022-04-012023-03-3109810034bus:SmallEntities2023-04-012024-03-3109810034bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3109810034bus:FullAccounts2023-04-012024-03-3109810034bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109810034core:WithinOneYear2024-03-3109810034core:AfterOneYear2024-03-3109810034core:WithinOneYear2023-03-3109810034core:AfterOneYear2023-03-3109810034core:ShareCapital2024-03-3109810034core:SharePremium2024-03-3109810034core:RevaluationReserve2024-03-3109810034core:OtherReservesSubtotal2024-03-3109810034core:RetainedEarningsAccumulatedLosses2024-03-3109810034core:ShareCapital2023-03-3109810034core:SharePremium2023-03-3109810034core:RevaluationReserve2023-03-3109810034core:OtherReservesSubtotal2023-03-3109810034core:RetainedEarningsAccumulatedLosses2023-03-3109810034core:LandBuildings2024-03-3109810034core:PlantMachinery2024-03-3109810034core:Vehicles2024-03-3109810034core:FurnitureFittings2024-03-3109810034core:OfficeEquipment2024-03-3109810034core:NetGoodwill2024-03-3109810034core:IntangibleAssetsOtherThanGoodwill2024-03-3109810034core:ListedExchangeTraded2024-03-3109810034core:UnlistedNon-exchangeTraded2024-03-3109810034core:LandBuildings2023-03-3109810034core:PlantMachinery2023-03-3109810034core:Vehicles2023-03-3109810034core:FurnitureFittings2023-03-3109810034core:OfficeEquipment2023-03-3109810034core:NetGoodwill2023-03-3109810034core:IntangibleAssetsOtherThanGoodwill2023-03-3109810034core:ListedExchangeTraded2023-03-3109810034core:UnlistedNon-exchangeTraded2023-03-3109810034core:LandBuildings2023-04-012024-03-3109810034core:PlantMachinery2023-04-012024-03-3109810034core:Vehicles2023-04-012024-03-3109810034core:FurnitureFittings2023-04-012024-03-3109810034core:OfficeEquipment2023-04-012024-03-3109810034core:NetGoodwill2023-04-012024-03-3109810034core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3109810034core:ListedExchangeTraded2023-04-012024-03-3109810034core:UnlistedNon-exchangeTraded2023-04-012024-03-3109810034core:MoreThanFiveYears2023-04-012024-03-3109810034core:Non-currentFinancialInstruments2024-03-3109810034core:Non-currentFinancialInstruments2023-03-3109810034dpl:CostSales2023-04-012024-03-3109810034dpl:DistributionCosts2023-04-012024-03-3109810034core:LandBuildings2023-04-012024-03-3109810034core:PlantMachinery2023-04-012024-03-3109810034core:Vehicles2023-04-012024-03-3109810034core:FurnitureFittings2023-04-012024-03-3109810034core:OfficeEquipment2023-04-012024-03-3109810034dpl:AdministrativeExpenses2023-04-012024-03-3109810034core:NetGoodwill2023-04-012024-03-3109810034core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3109810034dpl:GroupUndertakings2023-04-012024-03-3109810034dpl:ParticipatingInterests2023-04-012024-03-3109810034dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3109810034core:ListedExchangeTraded2023-04-012024-03-3109810034dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3109810034core:UnlistedNon-exchangeTraded2023-04-012024-03-3109810034dpl:CostSales2022-04-012023-03-3109810034dpl:DistributionCosts2022-04-012023-03-3109810034core:LandBuildings2022-04-012023-03-3109810034core:PlantMachinery2022-04-012023-03-3109810034core:Vehicles2022-04-012023-03-3109810034core:FurnitureFittings2022-04-012023-03-3109810034core:OfficeEquipment2022-04-012023-03-3109810034dpl:AdministrativeExpenses2022-04-012023-03-3109810034core:NetGoodwill2022-04-012023-03-3109810034core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3109810034dpl:GroupUndertakings2022-04-012023-03-3109810034dpl:ParticipatingInterests2022-04-012023-03-3109810034dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3109810034core:ListedExchangeTraded2022-04-012023-03-3109810034dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3109810034core:UnlistedNon-exchangeTraded2022-04-012023-03-3109810034core:NetGoodwill2024-03-3109810034core:IntangibleAssetsOtherThanGoodwill2024-03-3109810034core:LandBuildings2024-03-3109810034core:PlantMachinery2024-03-3109810034core:Vehicles2024-03-3109810034core:FurnitureFittings2024-03-3109810034core:OfficeEquipment2024-03-3109810034core:AfterOneYear2024-03-3109810034core:WithinOneYear2024-03-3109810034core:ListedExchangeTraded2024-03-3109810034core:UnlistedNon-exchangeTraded2024-03-3109810034core:ShareCapital2024-03-3109810034core:SharePremium2024-03-3109810034core:RevaluationReserve2024-03-3109810034core:OtherReservesSubtotal2024-03-3109810034core:RetainedEarningsAccumulatedLosses2024-03-3109810034core:NetGoodwill2023-03-3109810034core:IntangibleAssetsOtherThanGoodwill2023-03-3109810034core:LandBuildings2023-03-3109810034core:PlantMachinery2023-03-3109810034core:Vehicles2023-03-3109810034core:FurnitureFittings2023-03-3109810034core:OfficeEquipment2023-03-3109810034core:AfterOneYear2023-03-3109810034core:WithinOneYear2023-03-3109810034core:ListedExchange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FG Watch Group Ltd

Registered Number
09810034
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FG Watch Group Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Gordon Fraser
Oliver Goffe

Registered Address

Unit 4 City Limits
Danehill
Reading
RG6 4UP

Registered Number

09810034 (England and Wales)
FG Watch Group Ltd
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets359,5519,923
59,5519,923
Current assets
Stocks4376,923593,515
Debtors5447,142217,788
Cash at bank and on hand77,566172,659
901,631983,962
Creditors amounts falling due within one year6(223,779)(57,402)
Net current assets (liabilities)677,852926,560
Total assets less current liabilities737,403936,483
Provisions for liabilities7(11,703)-
Net assets725,700936,483
Capital and reserves
Called up share capital11
Share premium1,058,0351,058,035
Profit and loss account(332,336)(121,553)
Shareholders' funds725,700936,483
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
Oliver Goffe
Director
Registered Company No. 09810034
FG Watch Group Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The accounts are prepared on a going concern basis as the Directors have considered the financial position of the Company. Sufficient finance is available for the company to continue trading for the foreseeable future.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 2371033,05533,765
Additions38,08216,02354,105
At 31 March 2438,79249,07887,870
Depreciation and impairment
At 01 April 23-23,84223,842
Charge for year-4,4774,477
At 31 March 24-28,31928,319
Net book value
At 31 March 2438,79220,75959,551
At 31 March 237109,2139,923
4.Stocks

2024

2023

££
Finished goods376,923593,515
Total376,923593,515
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,4187,026
Other debtors413,397202,580
Prepayments and accrued income24,3278,182
Total447,142217,788
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables151,0433,495
Bank borrowings and overdrafts-579
Taxation and social security34,89550,585
Other creditors3,7512,743
Accrued liabilities and deferred income34,090-
Total223,77957,402
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)11,703-
Total11,703-