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REGISTERED NUMBER: 02143381 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Watson Estates Limited

Watson Estates Limited (Registered number: 02143381)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Watson Estates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs M R Garland
Ms E M Philpin





SECRETARY: Mrs M R Garland





REGISTERED OFFICE: Rosswyn
Greensplatt
Cusgarne
Truro
Cornwall
TR4 8RS





REGISTERED NUMBER: 02143381 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

Watson Estates Limited (Registered number: 02143381)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,000 35,000

CURRENT ASSETS
Debtors 5 1 1
Cash at bank 39,283 40,431
39,284 40,432
CREDITORS
Amounts falling due within one year 6 2,342 3,582
NET CURRENT ASSETS 36,942 36,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,942

71,850

CAPITAL AND RESERVES
Called up share capital 15,152 15,152
Revaluation reserve 7 20,000 20,000
Retained earnings 36,790 36,698
SHAREHOLDERS' FUNDS 71,942 71,850

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

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

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 4 February 2025 and were signed on its behalf by:





Mrs M R Garland - Director


Watson Estates Limited (Registered number: 02143381)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Watson Estates 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.

Tangible fixed assets
No depreciation is provided on freehold land as the Directors have adopted a policy of revaluation.

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 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 35,000
NET BOOK VALUE
At 31 March 2024 35,000
At 31 March 2023 35,000

Included in cost of land and buildings is freehold land of £ 35,000 (2023 - £ 35,000 ) which is not depreciated.

Watson Estates Limited (Registered number: 02143381)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

The company's freehold land was valued on 12th July 1995 by White & Sons Independent Estate Agents and Surveyors on an open market basis.

The Directors do not believe that the current market value of the freehold land has changed materially since the last valuation and therefore prior revaluations have not been updated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 21 598
Other creditors 2,321 2,984
2,342 3,582

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 20,000