Registered number
06002874
WATCH HOUSE ASSOCIATES LIMITED
Filleted Accounts
30 November 2024
WATCH HOUSE ASSOCIATES LIMITED
Registered number: 06002874
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 23,150 28,557
Tangible assets 4 32,039 43,879
55,189 72,436
Current assets
Debtors 5 37,251 126,054
Cash at bank and in hand 121,748 270,792
158,999 396,846
Creditors: amounts falling due within one year 6 (21,774) (337,221)
Net current assets 137,225 59,625
Total assets less current liabilities 192,414 132,061
Creditors: amounts falling due after more than one year 7 (192,501) (198,110)
Net liabilities (87) (66,049)
Capital and reserves
Called up share capital 20,100 20,100
Profit and loss account (20,187) (86,149)
Shareholders' funds (87) (66,049)
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.
Felix Billington
Director
Approved by the board on 15 May 2025
WATCH HOUSE ASSOCIATES LIMITED
Notes to the Accounts
for the year ended 30 November 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. 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:
Computer equipment over 3 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 9
3 Intangible fixed assets £
Website development:
Cost
At 1 December 2023 37,730
At 30 November 2024 37,730
Amortisation
At 1 December 2023 9,173
Provided during the year 5,407
At 30 November 2024 14,580
Net book value
At 30 November 2024 23,150
At 30 November 2023 28,557
Website development is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Computer Equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2023 5,328 85,920 91,248
Additions - 12,500 12,500
Disposals - (8,925) (8,925)
At 30 November 2024 5,328 89,495 94,823
Depreciation
At 1 December 2023 4,395 42,974 47,369
Charge for the year 372 17,793 18,165
On disposals - (2,750) (2,750)
At 30 November 2024 4,767 58,017 62,784
Net book value
At 30 November 2024 561 31,478 32,039
At 30 November 2023 933 42,946 43,879
5 Debtors 2024 2023
£ £
Other debtors (rent deposit) 2,925 -
Prepayments 29,830 120,634
Tax recoverable 4,496 5,420
37,251 126,054
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,521 14,760
Trade creditors 262 -
Taxation and social security costs 2,641 -
Accruals 2,350 321,397
Other creditors - 1,064
21,774 337,221
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,125 27,933
Other creditors 183,376 170,177
192,501 198,110
8 Related party transactions
Within long term creditors and included within other creditors is £52597 (2023: £39,445 ), owed to F A Billington, a director and shareholder.

Within long term creditors and included within other creditors is £130,779 (2023: £130,732), owed to D C Billington, a director and shareholder
9 Controlling party
The company is controlled by F A Billington by virtue of his shareholding
10 Other information
WATCH HOUSE ASSOCIATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Watch House
Trevaunance Cove
St. Agnes
Cornwall
TR5 0RZ
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