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REGISTERED NUMBER: 10676498 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

WATLING HARDIE LIMITED

WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATLING HARDIE LIMITED

COMPANY INFORMATION
For The Year Ended 31st March 2024







DIRECTORS: N Bond
Mrs K Bond





REGISTERED OFFICE: 30 St Lukes Terrace
Pallion
Sunderland
Tyne and Wear
SR4 6NQ





REGISTERED NUMBER: 10676498 (England and Wales)





ACCOUNTANTS: Stafford Accountancy
The Yard Suite 2.2
Gill Bridge Avenue
Sunderland
Tyne and Wear
SR1 3AW

WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

BALANCE SHEET
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,625 29,925
Tangible assets 5 16,622 15,522
40,247 45,447

CURRENT ASSETS
Stocks 6 835 835
Debtors 7 17,196 44,743
Cash at bank and in hand 49,048 14,354
67,079 59,932
CREDITORS
Amounts falling due within one year 8 59,826 71,912
NET CURRENT ASSETS/(LIABILITIES) 7,253 (11,980 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,500

33,467

CREDITORS
Amounts falling due after more than one
year

9

(36,009

)

(23,274

)

PROVISIONS FOR LIABILITIES (4,156 ) (2,949 )
NET ASSETS 7,335 7,244

CAPITAL AND RESERVES
Called up share capital 10 2 1
Retained earnings 7,333 7,243
SHAREHOLDERS' FUNDS 7,335 7,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

BALANCE SHEET - continued
31st March 2024


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 29th November 2024 and were signed on its behalf by:





N Bond - Director


WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Watling Hardie 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Revenue is recognised when goods are sold and transactions are completed in store.

Sales are recorded net of value added tax, staff discounts and voucher coupons.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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 - 20% on cost

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.


WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 63,000
AMORTISATION
At 1st April 2023 33,075
Charge for year 6,300
At 31st March 2024 39,375
NET BOOK VALUE
At 31st March 2024 23,625
At 31st March 2023 29,925

WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st April 2023 23,414
Additions 6,208
At 31st March 2024 29,622
DEPRECIATION
At 1st April 2023 7,892
Charge for year 5,108
At 31st March 2024 13,000
NET BOOK VALUE
At 31st March 2024 16,622
At 31st March 2023 15,522

6. STOCKS
2024 2023
£    £   
Stocks 835 835

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,409 12,020
Amounts owed by associates - 17,730
Other debtors - 3,773
Directors' current accounts - 11,179
Prepayments 2,787 41
17,196 44,743

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,029 9,932
Trade creditors 23,629 8,610
Amounts owed to associates 7,270 -
Tax 7,498 13,288
Social security and other taxes 1,546 1,376
VAT 2,230 5,684
Other creditors 284 267
Directors' current accounts 144 -
Accrued expenses 6,196 32,755
59,826 71,912

WATLING HARDIE LIMITED (REGISTERED NUMBER: 10676498)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 36,009 23,274

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the year.

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £5,493 (2023: £16,475).

The loan taken out in the year is secured via a personal guarantee.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
N Bond
Balance outstanding at start of year 11,179 -
Amounts advanced 45,454 36,418
Amounts repaid (56,777 ) (25,239 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (144 ) 11,179