Company Registration No. SC485584 (Scotland)
Edinburgh Watch Company Limited
Unaudited accounts
for the period from 1 October 2023 to 27 February 2025
Edinburgh Watch Company Limited
Unaudited accounts
Contents
Edinburgh Watch Company Limited
Company Information
for the period from 1 October 2023 to 27 February 2025
Company Number
SC485584 (Scotland)
Registered Office
22 West Main Street
DARVEL
Ayrshire
KA17 0AQ
Scotland
Accountants
Hugh Ferguson & Co. Ltd.
22 West Main Street
DARVEL
Ayrshire
KA17 0AQ
Edinburgh Watch Company Limited
Statement of financial position
as at 27 February 2025
Cash at bank and in hand
1,497,952
978,247
Creditors: amounts falling due within one year
(67,779)
(84,789)
Net current assets
1,432,703
1,356,368
Total assets less current liabilities
1,432,703
1,442,888
Provisions for liabilities
Net assets
1,432,703
1,440,261
Called up share capital
1,000
1,000
Profit and loss account
1,431,703
1,439,261
Shareholders' funds
1,432,703
1,440,261
For the period ending 27 February 2025 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2025 and were signed on its behalf by
Mr J D Gilbert
Director
Company Registration No. SC485584
Edinburgh Watch Company Limited
Notes to the Accounts
for the period from 1 October 2023 to 27 February 2025
Edinburgh Watch Company Limited is a private company, limited by shares, registered in Scotland, registration number SC485584. The registered office is 22 West Main Street, DARVEL, Ayrshire, KA17 0AQ, Scotland.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is the amount derived from ordinary activities and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% p.a. on a reducing balance basis
Motor vehicles
25% p.a. on a reducing balance basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Edinburgh Watch Company Limited
Notes to the Accounts
for the period from 1 October 2023 to 27 February 2025
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 October 2023
41,170
94,268
135,438
Disposals
(44,906)
(94,268)
(139,174)
At 1 October 2023
25,350
23,568
48,918
On disposals
(25,350)
(23,568)
(48,918)
At 30 September 2023
15,820
70,700
86,520
Amounts falling due within one year
Accrued income and prepayments
2,530
8,933
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Creditors: amounts falling due within one year
2025
2023
Taxes and social security
41,262
71,509
Loans from directors
742
7,450
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Post balance sheet events
The company ceased trading permanently on 27th February 2025.
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Average number of employees
During the period the average number of employees was 2 (2023: 2).