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REGISTERED NUMBER: 11196857 (England and Wales)















Unaudited Financial Statements for the Year Ended 28th February 2024

for

Watts And Son Building Limited

Watts And Son Building Limited (Registered number: 11196857)






Contents of the Financial Statements
for the Year Ended 28th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Watts And Son Building Limited

Company Information
for the Year Ended 28th February 2024







DIRECTORS: L Watts
R Watts





REGISTERED OFFICE: 1579 London Road
Leigh on Sea
Essex
SS9 2SG





REGISTERED NUMBER: 11196857 (England and Wales)





ACCOUNTANTS: Beam & Co Accountancy Limited
1579 London Road
Leigh on Sea
Essex
SS9 2SG

Watts And Son Building Limited (Registered number: 11196857)

Balance Sheet
28th February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 976 1,300

CURRENT ASSETS
Stocks 350 500
Debtors 5 10,399 15,724
Cash at bank 3,511 15,792
14,260 32,016
CREDITORS
Amounts falling due within one year 6 8,195 15,957
NET CURRENT ASSETS 6,065 16,059
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,041

17,359

CREDITORS
Amounts falling due after more than one
year

7

14,388

17,211
NET (LIABILITIES)/ASSETS (7,347 ) 148

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (7,447 ) 48
SHAREHOLDERS' FUNDS (7,347 ) 148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th November 2024 and were signed on its behalf by:



L Watts - Director



R Watts - Director


Watts And Son Building Limited (Registered number: 11196857)

Notes to the Financial Statements
for the Year Ended 28th February 2024

1. STATUTORY INFORMATION

Watts And Son Building Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Watts And Son Building Limited (Registered number: 11196857)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2023
and 28th February 2024 2,552
DEPRECIATION
At 1st March 2023 1,252
Charge for year 324
At 28th February 2024 1,576
NET BOOK VALUE
At 28th February 2024 976
At 28th February 2023 1,300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 1,740 1,200
Other debtors 8,659 14,524
10,399 15,724

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 3,049 2,979
Trade creditors 100 700
Taxation and social security 4,262 11,112
Other creditors 784 1,166
8,195 15,957

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans 14,388 17,211

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,389 4,509

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Bank loans 17,437 20,190

During the year ended 28th February 2021 the company obtained a loan under the Coronavirus Bounce Back Loan Scheme. Under the terms of the loan no repayments were due for the first 12 months of the loan. A guarantee was been provided by the Secretary of State for Business, Energy and Industrial Strategy.

Watts And Son Building Limited (Registered number: 11196857)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
100 ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28th February 2024 and 28th February 2023:

28.2.24 28.2.23
£    £   
L Watts
Balance outstanding at start of year 3,775 6,883
Amounts advanced 2,580 3,775
Amounts repaid (3,775 ) (6,883 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,580 3,775

R Watts
Balance outstanding at start of year 3,775 6,882
Amounts advanced 2,580 3,775
Amounts repaid (3,775 ) (6,882 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,580 3,775