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REGISTERED NUMBER: 05001001 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Watts Developments Limited

Watts Developments Limited (Registered number: 05001001)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Watts Developments Limited (Registered number: 05001001)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 299,641 277,845

CURRENT ASSETS
Debtors 5 219,225 175,114
Cash at bank 283,226 181,782
502,451 356,896
CREDITORS
Amounts falling due within one year 6 283,765 183,884
NET CURRENT ASSETS 218,686 173,012
TOTAL ASSETS LESS CURRENT LIABILITIES 518,327 450,857

CREDITORS
Amounts falling due after more than one year 7 - (15,252 )

PROVISIONS FOR LIABILITIES 10 (74,901 ) (69,450 )
NET ASSETS 443,426 366,155

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 443,424 366,153
SHAREHOLDERS' FUNDS 443,426 366,155

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2025 and were signed by:





Mr G J Watts - Director


Watts Developments Limited (Registered number: 05001001)

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

1. STATUTORY INFORMATION

Watts Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05001001

Registered office: Unit D
Stanley Estate
Knutsford
Cheshire
WA16 0EG

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures, fittings and equipment - 10% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Watts Developments Limited (Registered number: 05001001)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2024 137,199 33,145 184,316 354,660
Additions 19,061 - 223,200 242,261
Disposals (68,014 ) (3,484 ) (139,945 ) (211,443 )
At 31 December 2024 88,246 29,661 267,571 385,478
DEPRECIATION
At 1 January 2024 31,649 15,891 29,275 76,815
Charge for year 10,571 3,181 37,427 51,179
Eliminated on disposal (10,745 ) (2,223 ) (29,189 ) (42,157 )
At 31 December 2024 31,475 16,849 37,513 85,837
NET BOOK VALUE
At 31 December 2024 56,771 12,812 230,058 299,641
At 31 December 2023 105,550 17,254 155,041 277,845

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2024 54,220
Transfer to ownership (54,220 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 1,704
Charge for year 5,525
Transfer to ownership (7,229 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 52,516

Watts Developments Limited (Registered number: 05001001)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 188,236 133,194
Other debtors 30,989 41,920
219,225 175,114

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 13,073
Trade creditors 241,903 155,290
Taxation and social security 32,725 11,833
Other creditors 9,137 3,688
283,765 183,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 15,252

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 13,073
Between one and five years - 15,252
- 28,325

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,672 10,034
Between one and five years 1,319 6,991
6,991 17,025

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 28,325

Hire purchase liabilities are secured on the assets to which they relate.

Watts Developments Limited (Registered number: 05001001)

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 74,901 69,450

Deferred
tax
£   
Balance at 1 January 2024 69,450
Provided during year 5,451
Balance at 31 December 2024 74,901

11. CONTROLLING PARTY

The controlling party is Mr G J Watts.