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Registration number: 08366039

Emerson & Watson Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Emerson & Watson Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Emerson & Watson Limited

(Registration number: 08366039)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

353,551

353,364

Other financial assets

6

11,702

6,702

 

365,253

360,066

Current assets

 

Stocks

7

43,490

34,794

Debtors

631,579

440,451

Cash at bank and in hand

 

180,910

807,335

 

855,979

1,282,580

Creditors: Amounts falling due within one year

(363,999)

(330,105)

Net current assets

 

491,980

952,475

Total assets less current liabilities

 

857,233

1,312,541

Creditors: Amounts falling due after more than one year

(54,033)

(54,507)

Provisions for liabilities

(84,972)

(84,707)

Net assets

 

718,228

1,173,327

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

718,226

1,173,325

Total equity

 

718,228

1,173,327

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Emerson & Watson Limited

(Registration number: 08366039)
Abridged Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 

Mr R L Watson

Director

Mr G M Emerson

Director

Mrs S G Emerson

Director

Mrs K Watson

Director

 

Emerson & Watson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Popes Farm
Howe Lane
Binfield
Berkshire
RG42 5QR

These financial statements were authorised for issue by the Board on 17 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

10% reducing balance

Computer equipment

33% straight line

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Emerson & Watson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Asset class

Amortisation method and rate

Goodwill

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2023

125,000

At 30 September 2024

125,000

Amortisation

At 1 October 2023

125,000

At 30 September 2024

125,000

Carrying amount

At 30 September 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

751,175

Additions

113,925

Disposals

(65,279)

At 30 September 2024

799,821

Depreciation

At 1 October 2023

397,808

Charge for the year

95,073

Eliminated on disposal

(46,611)

At 30 September 2024

446,270

Carrying amount

At 30 September 2024

353,551

At 30 September 2023

353,364

 

Emerson & Watson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

6

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

6,702

Additions

5,000

At 30 September 2024

11,702

Carrying amount

At 30 September 2024

11,702

7

Stocks

2024
£

2023
£

Stock

43,490

34,794

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £49,420 (2023 - £77,234).

9

Related party transactions

Advances to directors


Mr G M Emerson

During the period Mr G M Emerson went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £149,352. At the year end the amount outstanding from Mr G M Emerson was £45,690 (2023 - £4,091). Interest has been charged at the commercial rate.


Mr R L Watson

During the period Mr R L Watson went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £137,872. At the year end the amount outstanding from Mr R L Watson was £67,703 (2023 - £25,308). Interest has been charged at the commercial rate.