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Registered number: 11561178
Watson Homes Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Optimise Accountants Ltd
Office 15 Bramley House, 2a Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11561178
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 397,581 562,085
397,581 562,085
CURRENT ASSETS
Investments 5 - 50
Cash at bank and in hand 1,887 -
1,887 50
Creditors: Amounts Falling Due Within One Year 6 (134,540 ) (138,248 )
NET CURRENT ASSETS (LIABILITIES) (132,653 ) (138,198 )
TOTAL ASSETS LESS CURRENT LIABILITIES 264,928 423,887
Creditors: Amounts Falling Due After More Than One Year 7 (345,277 ) (464,402 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,105 ) (22,105 )
NET LIABILITIES (102,454 ) (62,620 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Fair value reserve 10 94,238 94,238
Profit and Loss Account (197,692 ) (157,858 )
SHAREHOLDERS' FUNDS (102,454) (62,620)
Page 1
Page 2
For the 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Gregory
Director
11/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Watson Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11561178 . The registered office is Worksop Turbine Coach Close, Shireoaks, Worksop, S81 8AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance basis
Computer Equipment 20% reducing balance basis
2.5. Investment Properties
All Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Investment Properties Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 559,063 3,808 140 563,011
Disposals (163,838 ) - - (163,838 )
As at 30 September 2024 395,225 3,808 140 399,173
...CONTINUED
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Page 4
Depreciation
As at 1 October 2023 - 872 54 926
Provided during the period - 649 17 666
As at 30 September 2024 - 1,521 71 1,592
Net Book Value
As at 30 September 2024 395,225 2,287 69 397,581
As at 1 October 2023 559,063 2,936 86 562,085
5. Current Asset Investments
2024 2023
£ £
Unlisted investments - 50
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 4,220
Other creditors 16,902 17,388
Accruals and deferred income - 458
Directors' loan accounts 104,638 107,782
Amounts owed to other participating interests 13,000 8,400
134,540 138,248
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 345,277 464,402
The bank loans are secured against the company's investment properties.


8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The below bank loans are secured on the investment properties. They are interest only with a term of 35 years and 30 years.
2024 2023
£ £
Bank loans and overdrafts 326,433 442,682
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.000 each 1,000 1,000
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10. Reserves
Fair Value Reserve
£
As at 1 October 2023 94,238
As at 30 September 2024 94,238
11. Ultimate Controlling Party
There is no ultimate controlling party due to the shares being held equally.
Page 5