Company registration number 11630441 (England and Wales)
WATCHET SPICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
WATCHET SPICE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
WATCHET SPICE LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
26,228
26,375
Current assets
Stocks
5,707
6,297
Debtors
4
188,047
158,501
Cash at bank and in hand
32,486
11,092
226,240
175,890
Creditors: amounts falling due within one year
5
(123,565)
(88,586)
Net current assets
102,675
87,304
Total assets less current liabilities
128,903
113,679
Creditors: amounts falling due after more than one year
6
(5,829)
(15,830)
Provisions for liabilities
(2,479)
(2,427)
Net assets
120,595
95,422
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
120,495
95,322
Total equity
120,595
95,422

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WATCHET SPICE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 3 April 2025
Husneara  Chowdhury
Director
Company registration number 11630441 (England and Wales)
WATCHET SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Watchet Spice Limited is a private company limited by shares incorporated in England and Wales. The registered office is Soho House, 362 - 364 Soho Road, Birmingham, B21 9QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Fixtures and fittings
18% on reducing balance
Improvements to property
2% on cost

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.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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.

WATCHET SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Improvements to property
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 November 2023
17,750
4,504
16,143
38,397
Additions
-
0
-
0
2,424
2,424
At 31 October 2024
17,750
4,504
18,567
40,821
Depreciation and impairment
At 1 November 2023
1,080
2,827
8,115
12,022
Depreciation charged in the year
355
335
1,881
2,571
At 31 October 2024
1,435
3,162
9,996
14,593
Carrying amount
At 31 October 2024
16,315
1,342
8,571
26,228
At 31 October 2023
16,670
1,677
8,028
26,375
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,176
2,300
Other debtors
184,871
156,201
188,047
158,501
WATCHET SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
583
15,478
Corporation tax
11,325
11,124
Other taxation and social security
13,285
12,977
Other creditors
98,372
49,007
123,565
88,586
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,829
15,830
7
Related Party Disclosures

As at 31 October 2024 the following balance, included in other debtors due within one year, was due from related companies:

 

Silco Homes Ltd : £169,999

The Mariner Guest House Ltd : £14,100

 

The above balances are repayable on demand.

8
Ultimate Controlling Party

There is no ultimate controlling party.

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