2023-08-012024-07-312024-07-31false06964709WATCHTIME LIMITED2025-02-1347770falseiso4217:GBPxbrli:pure069647092023-08-01069647092024-07-31069647092023-08-012024-07-31069647092022-08-01069647092023-07-31069647092022-08-012023-07-3106964709bus:SmallEntities2023-08-012024-07-3106964709bus:AuditExempt-NoAccountantsReport2023-08-012024-07-3106964709bus:FullAccounts2023-08-012024-07-3106964709bus:PrivateLimitedCompanyLtd2023-08-012024-07-3106964709core:WithinOneYear2024-07-3106964709core:AfterOneYear2024-07-3106964709core:WithinOneYear2023-07-3106964709core:AfterOneYear2023-07-3106964709core:ShareCapital2024-07-3106964709core:SharePremium2024-07-3106964709core:RevaluationReserve2024-07-3106964709core:OtherReservesSubtotal2024-07-3106964709core:RetainedEarningsAccumulatedLosses2024-07-3106964709core:ShareCapital2023-07-3106964709core:SharePremium2023-07-3106964709core:RevaluationReserve2023-07-3106964709core:OtherReservesSubtotal2023-07-3106964709core:RetainedEarningsAccumulatedLosses2023-07-3106964709core:LandBuildings2024-07-3106964709core:PlantMachinery2024-07-3106964709core:Vehicles2024-07-3106964709core:FurnitureFittings2024-07-3106964709core:OfficeEquipment2024-07-3106964709core:NetGoodwill2024-07-3106964709core:IntangibleAssetsOtherThanGoodwill2024-07-3106964709core:ListedExchangeTraded2024-07-3106964709core:UnlistedNon-exchangeTraded2024-07-3106964709core:LandBuildings2023-07-3106964709core:PlantMachinery2023-07-3106964709core:Vehicles2023-07-3106964709core:FurnitureFittings2023-07-3106964709core:OfficeEquipment2023-07-3106964709core:NetGoodwill2023-07-3106964709core:IntangibleAssetsOtherThanGoodwill2023-07-3106964709core:ListedExchangeTraded2023-07-3106964709core:UnlistedNon-exchangeTraded2023-07-3106964709core:LandBuildings2023-08-012024-07-3106964709core:PlantMachinery2023-08-012024-07-3106964709core:Vehicles2023-08-012024-07-3106964709core:FurnitureFittings2023-08-012024-07-3106964709core:OfficeEquipment2023-08-012024-07-3106964709core:NetGoodwill2023-08-012024-07-3106964709core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3106964709core:ListedExchangeTraded2023-08-012024-07-3106964709core:UnlistedNon-exchangeTraded2023-08-012024-07-3106964709core:MoreThanFiveYears2023-08-012024-07-3106964709core:Non-currentFinancialInstruments2024-07-3106964709core:Non-currentFinancialInstruments2023-07-3106964709dpl:CostSales2023-08-012024-07-3106964709dpl:DistributionCosts2023-08-012024-07-3106964709core:LandBuildings2023-08-012024-07-3106964709core:PlantMachinery2023-08-012024-07-3106964709core:Vehicles2023-08-012024-07-3106964709core:FurnitureFittings2023-08-012024-07-3106964709core:OfficeEquipment2023-08-012024-07-3106964709dpl:AdministrativeExpenses2023-08-012024-07-3106964709core:NetGoodwill2023-08-012024-07-3106964709core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3106964709dpl:GroupUndertakings2023-08-012024-07-3106964709dpl:ParticipatingInterests2023-08-012024-07-3106964709dpl:GroupUndertakingscore:ListedExchangeTraded2023-08-012024-07-3106964709core:ListedExchangeTraded2023-08-012024-07-3106964709dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-08-012024-07-3106964709core:UnlistedNon-exchangeTraded2023-08-012024-07-3106964709dpl:CostSales2022-08-012023-07-3106964709dpl:DistributionCosts2022-08-012023-07-3106964709core:LandBuildings2022-08-012023-07-3106964709core:PlantMachinery2022-08-012023-07-3106964709core:Vehicles2022-08-012023-07-3106964709core:FurnitureFittings2022-08-012023-07-3106964709core:OfficeEquipment2022-08-012023-07-3106964709dpl:AdministrativeExpenses2022-08-012023-07-3106964709core:NetGoodwill2022-08-012023-07-3106964709core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3106964709dpl:GroupUndertakings2022-08-012023-07-3106964709dpl:ParticipatingInterests2022-08-012023-07-3106964709dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3106964709core:ListedExchangeTraded2022-08-012023-07-3106964709dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3106964709core:UnlistedNon-exchangeTraded2022-08-012023-07-3106964709core:NetGoodwill2024-07-3106964709core:IntangibleAssetsOtherThanGoodwill2024-07-3106964709core:LandBuildings2024-07-3106964709core:PlantMachinery2024-07-3106964709core:Vehicles2024-07-3106964709core:FurnitureFittings2024-07-3106964709core:OfficeEquipment2024-07-3106964709core:AfterOneYear2024-07-3106964709core:WithinOneYear2024-07-3106964709core:ListedExchangeTraded2024-07-3106964709core:UnlistedNon-exchangeTraded2024-07-3106964709core:ShareCapital2024-07-3106964709core:SharePremium2024-07-3106964709core:RevaluationReserve2024-07-3106964709core:OtherReservesSubtotal2024-07-3106964709core:RetainedEarningsAccumulatedLosses2024-07-3106964709core:NetGoodwill2023-07-3106964709core:IntangibleAssetsOtherThanGoodwill2023-07-3106964709core:LandBuildings2023-07-3106964709core:PlantMachinery2023-07-3106964709core:Vehicles2023-07-3106964709core:FurnitureFittings2023-07-3106964709core:OfficeEquipment2023-07-3106964709core:AfterOneYear2023-07-3106964709core:WithinOneYear2023-07-3106964709core:ListedExchangeTraded2023-07-3106964709core:UnlistedNon-exchangeTraded2023-07-3106964709core:ShareCapital2023-07-3106964709core:SharePremium2023-07-3106964709core:RevaluationReserve2023-07-3106964709core:OtherReservesSubtotal2023-07-3106964709core:RetainedEarningsAccumulatedLosses2023-07-3106964709core:NetGoodwill2022-08-0106964709core:IntangibleAssetsOtherThanGoodwill2022-08-0106964709core:LandBuildings2022-08-0106964709core:PlantMachinery2022-08-0106964709core:Vehicles2022-08-0106964709core:FurnitureFittings2022-08-0106964709core:OfficeEquipment2022-08-0106964709core:AfterOneYear2022-08-0106964709core:WithinOneYear2022-08-0106964709core:ListedExchangeTraded2022-08-0106964709core:UnlistedNon-exchangeTraded2022-08-0106964709core:ShareCapital2022-08-0106964709core:SharePremium2022-08-0106964709core:RevaluationReserve2022-08-0106964709core:OtherReservesSubtotal2022-08-0106964709core:RetainedEarningsAccumulatedLosses2022-08-0106964709core:AfterOneYear2023-08-012024-07-3106964709core:WithinOneYear2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:CostValuation2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-08-012024-07-3106964709core:Non-currentFinancialInstrumentscore:CostValuation2024-07-3106964709core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-07-3106964709core:Non-currentFinancialInstrumentscore:CostValuation2023-07-3106964709core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-07-3106964709core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-07-3106964709bus:Director12023-08-012024-07-31

WATCHTIME LIMITED

Registered Number
06964709
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

WATCHTIME LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

F Falcini

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

06964709 (England and Wales)
WATCHTIME LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31926
1926
Current assets
Stocks455,14355,143
Debtors54,2404,240
Cash at bank and on hand745,299779,321
804,682838,704
Creditors amounts falling due within one year6(241,508)(251,408)
Net current assets (liabilities)563,174587,296
Total assets less current liabilities563,193587,322
Accruals and deferred income(672)(1,100)
Net assets562,521586,222
Capital and reserves
Called up share capital100100
Profit and loss account562,421586,122
Shareholders' funds562,521586,222
The financial statements were approved and authorised for issue by the Director on 13 February 2025, and are signed on its behalf by:
F Falcini
Director
Registered Company No. 06964709
WATCHTIME LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 23968968
At 31 July 24968968
Depreciation and impairment
At 01 August 23942942
Charge for year77
At 31 July 24949949
Net book value
At 31 July 241919
At 31 July 232626
4.Stocks

2024

2023

££
Other stocks55,14355,143
Total55,14355,143
5.Debtors: amounts due within one year

2024

2023

££
Other debtors4,2404,240
Total4,2404,240
6.Creditors: amounts due within one year

2024

2023

££
Other creditors241,508251,408
Total241,508251,408
7.Related party transactions
During the year total dividends of £500 (2023: £1,000) were paid to the director.
8.Controlling party
The company is controlled by its director, F Falcini, by virtue of his 100% ownership of the issued share capital.