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Registration number: 11547146

Watson Hill Lines Group Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Watson Hill Lines Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Watson Hill Lines Group Limited

Company Information

Directors

Mr Alexander Kyle Watson

Katie Fiona Hill-Lines

Registered office

81 Astwick Road
Stotfold
Hitchin
Hertfordshire
SG5 4BQ

 

Watson Hill Lines Group Limited

(Registration number: 11547146)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,732

38,697

Current assets

 

Debtors

5

21,080

11,161

Cash at bank and in hand

 

119,471

109,369

 

140,551

120,530

Creditors: Amounts falling due within one year

6

(45,628)

(42,152)

Net current assets

 

94,923

78,378

Total assets less current liabilities

 

127,655

117,075

Creditors: Amounts falling due after more than one year

6

(4,994)

(10,951)

Provisions for liabilities

(6,219)

(7,352)

Net assets

 

116,442

98,772

Capital and reserves

 

Called up share capital

2

2

Retained earnings

116,440

98,770

Shareholders' funds

 

116,442

98,772

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 December 2024 and signed on its behalf by:
 

 

Watson Hill Lines Group Limited

(Registration number: 11547146)
Balance Sheet as at 30 September 2024

.........................................
Mr Alexander Kyle Watson
Director

.........................................
Katie Fiona Hill-Lines
Director

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
81 Astwick Road
Stotfold
Hitchin
Hertfordshire
SG5 4BQ
United Kingdom

These financial statements were authorised for issue by the Board on 19 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straightline 33%

Fixtures and fittings

Straightline 33%

Motor vehicles

Reducing balance 20%

Office equipment

Straightline 33%

Investments

Investment is carried at fair value, derived from the current market prices. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

9,036

39,100

2,736

50,872

Additions

2,799

-

836

3,635

Disposals

(605)

-

-

(605)

At 30 September 2024

11,230

39,100

3,572

53,902

Depreciation

At 1 October 2023

6,181

3,258

2,736

12,175

Charge for the year

1,831

7,169

115

9,115

Eliminated on disposal

(120)

-

-

(120)

At 30 September 2024

7,892

10,427

2,851

21,170

Carrying amount

At 30 September 2024

3,338

28,673

721

32,732

At 30 September 2023

2,855

35,842

-

38,697

5

Debtors

Current

2024
£

2023
£

Trade debtors

20,085

10,294

Prepayments

995

867

 

21,080

11,161

6

Creditors

Creditors: amounts falling due within one year

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

6,322

6,322

Trade creditors

 

1,547

75

Taxation and social security

 

34,192

32,830

Accruals and deferred income

 

975

975

Other creditors

 

2,592

1,950

 

45,628

42,152

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

4,994

10,951

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £34,000.00 (2023 - £35,000.00) per ordinary share

 

68,000

 

70,000

         

9

Related party transactions

 

Watson Hill Lines Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

At the balance sheet date, the company owed the directors of the company £624 (2023: £1,248). There are no terms of repayment or interest charged on these loans.

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

4,994

10,951

Within loans and borrowings there is a £11,316 (2023: £17,272) bounce back loan from the government provided through HSBC UK. As per government regulations there is no security required on this loan by either Watson Hill Lines Group Limited or the directors.

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,322

6,322