2023-05-012024-04-302024-04-30false11313916WATSON GROUNDWORKS (CUMBRIA) 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WATSON GROUNDWORKS (CUMBRIA) LIMITED

Registered Number
11313916
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

WATSON GROUNDWORKS (CUMBRIA) LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

WATSON, Mr Stuart

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

11313916 (England and Wales)
WATSON GROUNDWORKS (CUMBRIA) LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3268,896151,849
268,896151,849
Current assets
Stocks85,88421,134
Debtors4293,020122,409
Cash at bank and on hand75,599240,375
454,503383,918
Creditors amounts falling due within one year5(116,958)(94,597)
Net current assets (liabilities)337,545289,321
Total assets less current liabilities606,441441,170
Provisions for liabilities6(65,724)(35,294)
Net assets540,717405,876
Capital and reserves
Called up share capital100100
Profit and loss account540,617405,776
Shareholders' funds540,717405,876
The financial statements were approved and authorised for issue by the Director on 4 October 2024, and are signed on its behalf by:
WATSON, Mr Stuart
Director
Registered Company No. 11313916
WATSON GROUNDWORKS (CUMBRIA) LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
Watson Groundworks (Cumbria) Limited is a private company limited by shares, incorporated in England and Wales. The registered office address is 2 Europe Way, Cockermouth, Cumbria, CA13 0RJ.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Office Equipment15
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

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

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 2369,525135,06935,982240,576
Additions57,506140,6852,111200,302
Disposals-(35,480)-(35,480)
At 30 April 24127,031240,27438,093405,398
Depreciation and impairment
At 01 May 2320,31652,87815,53388,727
Charge for year15,10639,5283,38458,018
On disposals-(10,243)-(10,243)
At 30 April 2435,42282,16318,917136,502
Net book value
At 30 April 2491,609158,11119,176268,896
At 30 April 2349,20982,19120,449151,849
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables250,33791,683
Other debtors37,05224,062
Prepayments and accrued income5,6316,664
Total293,020122,409
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables38,47826,491
Bank borrowings and overdrafts19,6914,323
Taxation and social security46,88854,197
Other creditors9,1867,864
Accrued liabilities and deferred income2,7151,722
Total116,95894,597
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)65,72435,294
Total65,72435,294