WATCHES INTERNATIONAL LIMITED

Company Registration Number:
03312335 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

WATCHES INTERNATIONAL LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

WATCHES INTERNATIONAL LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 13,012 19,077
Investments: 4 3,710,078 3,710,078
Total fixed assets: 3,723,090 3,729,155
Current assets
Debtors:   3,029,744 3,515,104
Cash at bank and in hand: 24,860 18,467
Total current assets: 3,054,604 3,533,571
Creditors: amounts falling due within one year:   (526,208) (525,500)
Net current assets (liabilities): 2,528,396 3,008,071
Total assets less current liabilities: 6,251,486 6,737,226
Provision for liabilities: (822,078) (822,078)
Total net assets (liabilities): 5,429,408 5,915,148
Capital and reserves
Called up share capital: 2,000,020 2,000,020
Profit and loss account: 3,429,388 3,915,128
Shareholders funds: 5,429,408 5,915,148

The notes form part of these financial statements

WATCHES INTERNATIONAL LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 December 2024
and signed on behalf of the board by:

Name: G M Stein
Status: Director

The notes form part of these financial statements

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 21 23

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible Assets

Total
Cost £
At 01 May 2023 302,500
At 30 April 2024 302,500
Depreciation
At 01 May 2023 283,423
Charge for year 6,065
At 30 April 2024 289,488
Net book value
At 30 April 2024 13,012
At 30 April 2023 19,077

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Fixed investments

Other investments £3,710,078 (2023 - £3,710,078)

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Loans to directors

Name of director receiving advance or credit: G Stein
Description of the loan: Directors loan
£
Balance at 01 May 2023 313,377
Advances or credits made: 215,163
Advances or credits repaid: 313,377
Balance at 30 April 2024 215,163

The loan to G Stein has subsequently been repaid

WATCHES INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Related party transactions

Name of the related party: Major Properties (London) Limited
Relationship:
A company in which G Stein is a director and shareholder
Description of the Transaction: Amount due from Major Properties (London) Limited
£
Balance at 01 May 2023 2,725,659
Balance at 30 April 2024 2,636,107
Name of the related party: Timepieces International Inc
Relationship:
A company in which G Stein is a director and shareholder
Description of the Transaction: Amount due to Timepieces International Inc.
£
Balance at 01 May 2023 94,277
Balance at 30 April 2024 386,580
Name of the related party: Ralph Christian Inc
Relationship:
A company in which G Stein is a director and shareholder
Description of the Transaction: Amount due from Ralph Christian Inc.
£
Balance at 01 May 2023 429,276
Balance at 30 April 2024 429,276
Name of the related party: Gamma Management Limited
Relationship:
A company in which G Stein is a director and shareholder
Description of the Transaction: Amount due from Gamma Management Limited
£
Balance at 01 May 2023 0
Balance at 30 April 2024 5,000
Name of the related party: Rosedale Limited
Relationship:
A company in which G Stein is a director and shareholder
Description of the Transaction: Amount due from Rosedale Limited
£
Balance at 01 May 2023 0
Balance at 30 April 2024 13
Name of the related party: Watches International Holdings Limited
Relationship:
Ultimate parent company
Description of the Transaction: Amount due to Watches International Holdings Limited
£
Balance at 01 May 2023 121
Balance at 30 April 2024 121

During the year the following transactions took place between related parties : Dividends paid to Watches International Holdings Limited of £510,000 (2023 - £545,564). Interest received from Major Properties (London) Limited of £80,651 (2023 - £79,421) Income for the provision of buying services received from Timepieces International Inc. of £996,245 (2023 - £1,105,303) Income from the provision of management services received from Ralph Christian Inc of £12,787 (2023 - £393,650) A dividend of £60,000 (2023 - £60,000) was accrued to the trustees of the Watches International Limited Employee Benefit Trust.