Registered number
03061963
WATSON ENGINEERING (BHAM) LIMITED
Filleted Accounts
31 October 2024
WATSON ENGINEERING (BHAM) LIMITED
Registered number: 03061963
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 206,561 247,213
Current assets
Stocks 1,950 2,100
Debtors 4 306,231 381,471
Cash at bank and in hand 528,527 214,132
836,708 597,703
Creditors: amounts falling due within one year 5 (318,467) (201,935)
Net current assets 518,241 395,768
Total assets less current liabilities 724,802 642,981
Provisions for liabilities (51,640) (61,803)
Net assets 673,162 581,178
Capital and reserves
Called up share capital 100 100
Profit and loss account 673,062 581,078
Shareholders' funds 673,162 581,178
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.
I Satterthwaite
Director
Approved by the board on 14 May 2025
WATSON ENGINEERING (BHAM) LIMITED
Notes to the Accounts
for the year ended 31 October 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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, other than freehold land, 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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 339,098 47,579 386,677
Additions 18,882 45,005 63,887
Disposals - (47,579) (47,579)
At 31 October 2024 357,980 45,005 402,985
Depreciation
At 1 November 2023 127,569 11,895 139,464
Charge for the year 57,603 11,252 68,855
On disposals - (11,895) (11,895)
At 31 October 2024 185,172 11,252 196,424
Net book value
At 31 October 2024 172,808 33,753 206,561
At 31 October 2023 211,529 35,684 247,213
4 Debtors 2024 2023
£ £
Trade debtors 227,868 373,073
Other debtors 78,363 8,398
306,231 381,471
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 121,850 119,615
Taxation and social security costs 92,522 74,407
Other creditors 104,095 7,913
318,467 201,935
6 Other information
WATSON ENGINEERING (BHAM) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Grays Court
5 Nursery Road
Edgbaston
Birmingham
B15 3JX
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