Registered number
09913949
Reed Watts Limited
Filleted Accounts
31 March 2024
Reed Watts Limited
Registered number: 09913949
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,704 3,406
Current assets
Debtors 4 79,322 92,535
Cash at bank and in hand 106,604 29,960
185,926 122,495
Creditors: amounts falling due within one year 5 (62,751) (38,967)
Net current assets 123,175 83,528
Net assets 124,879 86,934
Capital and reserves
Called up share capital 4 4
Profit and loss account 124,875 86,930
Shareholders' funds 124,879 86,934
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account and the director's report have not been delivered to the Registrar of Companies.
J REED M WATTS
Director Director
Approved by the board on 5 November 2024
Reed Watts Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
Turnover
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 rendering of architectural services and 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 2- 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is not recognised in respect of timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is considered not material to the true and fair view of the financial statements. Current and deferred tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 15,736
At 31 March 2024 15,736
Depreciation
At 1 April 2023 12,330
Charge for the year 1,702
At 31 March 2024 14,032
Net book value
At 31 March 2024 1,704
At 31 March 2023 3,406
4 Debtors 2024 2023
£ £
Trade debtors 62,783 72,348
Other debtors 16,539 20,187
79,322 92,535
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan accounts 1,600 1,600
Taxation and social security costs 58,053 32,057
Other creditors 3,098 5,310
62,751 38,967
6 Other information
Reed Watts Limited is a private company limited by shares and incorporated in England. Its registered office is:
104a St. John Street
London
EC1M 4EH
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