Registered number
04461009
R Watts & Sons Limited
Filleted Accounts
30 June 2024
R Watts & Sons Limited
Registered number: 04461009
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 218,209 253,189
Current assets
Stocks 2,000 2,000
Debtors 4 59,629 55,227
Cash at bank and in hand 45,582 17,906
107,211 75,133
Creditors: amounts falling due within one year 5 (142,956) (135,290)
Net current liabilities (35,745) (60,157)
Total assets less current liabilities 182,464 193,032
Creditors: amounts falling due after more than one year 6 (73,246) (111,725)
Provisions for liabilities (54,562) (47,749)
Net assets 54,656 33,558
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,556 33,458
Shareholders' funds 54,656 33,558
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S R Watts
Director
Approved by the board on 28 April 2025
R Watts & Sons Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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).
Turnover
Turnover represents the value, net of value added tax, of the work carried out in respect of services provided to customers during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks of sundry items are measured at the lower of cost and net net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognistion of gains and losses in the accounts and their recognisition for tax purposes. Defereed taxation is calculated on an un-discounted basis at the rates which are expected to apply in the the period when the timing differences will reverse.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 470,340
Additions 10,100
Disposals (21,750)
At 30 June 2024 458,690
Depreciation
At 1 July 2023 217,151
Charge for the year 38,506
On disposals (15,176)
At 30 June 2024 240,481
Net book value
At 30 June 2024 218,209
At 30 June 2023 253,189
4 Debtors 2024 2023
£ £
Trade debtors 53,771 51,627
Other debtors 5,858 3,600
59,629 55,227
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,768 30,270
Obligations under finance lease and hire purchase contracts 29,046 35,444
Trade creditors 7,630 8,458
Taxation and social security costs 73,639 54,322
Other creditors 9,873 6,796
142,956 135,290
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,221 19,277
Obligations under finance lease and hire purchase contracts 64,025 92,448
73,246 111,725
7 Other information
R Watts & Sons Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Clonmel Way
Burnham
Slough
SL1 7DA
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