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Company No: 10887468 (England and Wales)

TRADE WATCHES UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

TRADE WATCHES UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

TRADE WATCHES UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
TRADE WATCHES UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTOR Hayden Lee Rose
REGISTERED OFFICE 1 Canada Square (37th Floor)
Canary Wharf
London
E14 5AA
United Kingdom
COMPANY NUMBER 10887468 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
TRADE WATCHES UK LIMITED

BALANCE SHEET

As at 31 July 2024
TRADE WATCHES UK LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,948 7,774
5,948 7,774
Current assets
Stocks 335,495 411,750
Debtors 4 238,956 163,317
Cash at bank and in hand 5 121,503 259,321
695,954 834,388
Creditors: amounts falling due within one year 6 ( 206,935) ( 279,440)
Net current assets 489,019 554,948
Total assets less current liabilities 494,967 562,722
Creditors: amounts falling due after more than one year 7 0 ( 78,020)
Net assets 494,967 484,702
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 494,867 484,602
Total shareholders' funds 494,967 484,702

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Trade Watches UK Limited (registered number: 10887468) were approved and authorised for issue by the Director on 29 January 2025. They were signed on its behalf by:

Hayden Lee Rose
Director
TRADE WATCHES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
TRADE WATCHES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trade Watches UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Canada Square (37th Floor), Canary Wharf, London, E14 5AA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

3. Tangible assets

Vehicles Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 August 2023 3,708 5,872 4,172 13,752
At 31 July 2024 3,708 5,872 4,172 13,752
Accumulated depreciation
At 01 August 2023 1,335 2,718 1,925 5,978
Charge for the financial year 475 789 562 1,826
At 31 July 2024 1,810 3,507 2,487 7,804
Net book value
At 31 July 2024 1,898 2,365 1,685 5,948
At 31 July 2023 2,373 3,154 2,247 7,774

4. Debtors

2024 2023
£ £
Trade debtors 168,245 44,250
Other debtors 70,711 119,067
238,956 163,317

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 121,503 259,321

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 78,025 118,427
Trade creditors 29,543 56,287
Amounts owed to director 11,791 0
Taxation and social security 21,347 44,664
Other creditors 66,229 60,062
206,935 279,440

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 78,020

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100