IRIS Accounts Production v25.1.3.33 08802175 Board of Directors 1.2.24 31.1.25 31.1.25 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088021752024-01-31088021752025-01-31088021752024-02-012025-01-31088021752023-01-31088021752023-02-012024-01-31088021752024-01-3108802175ns15:EnglandWales2024-02-012025-01-3108802175ns14:PoundSterling2024-02-012025-01-3108802175ns10:Director12024-02-012025-01-3108802175ns10:PrivateLimitedCompanyLtd2024-02-012025-01-3108802175ns10:SmallEntities2024-02-012025-01-3108802175ns10:AuditExempt-NoAccountantsReport2024-02-012025-01-3108802175ns10:SmallCompaniesRegimeForDirectorsReport2024-02-012025-01-3108802175ns10:SmallCompaniesRegimeForAccounts2024-02-012025-01-3108802175ns10:FullAccounts2024-02-012025-01-310880217512024-02-012025-01-3108802175ns10:Director22024-02-012025-01-3108802175ns10:RegisteredOffice2024-02-012025-01-3108802175ns5:CurrentFinancialInstruments2025-01-3108802175ns5:CurrentFinancialInstruments2024-01-3108802175ns5:Non-currentFinancialInstruments2025-01-3108802175ns5:Non-currentFinancialInstruments2024-01-3108802175ns5:ShareCapital2025-01-3108802175ns5:ShareCapital2024-01-3108802175ns5:RetainedEarningsAccumulatedLosses2025-01-3108802175ns5:RetainedEarningsAccumulatedLosses2024-01-3108802175ns5:NetGoodwill2024-02-012025-01-3108802175ns5:IntangibleAssetsOtherThanGoodwill2024-02-012025-01-3108802175ns5:PatentsTrademarksLicencesConcessionsSimilar2024-02-012025-01-3108802175ns5:LandBuildings2024-02-012025-01-3108802175ns5:PlantMachinery2024-02-012025-01-3108802175ns5:NetGoodwill2024-01-3108802175ns5:IntangibleAssetsOtherThanGoodwill2024-01-3108802175ns5:NetGoodwill2025-01-3108802175ns5:IntangibleAssetsOtherThanGoodwill2025-01-3108802175ns5:NetGoodwill2024-01-3108802175ns5:IntangibleAssetsOtherThanGoodwill2024-01-3108802175ns5:LandBuildings2024-01-3108802175ns5:PlantMachinery2024-01-3108802175ns5:LandBuildings2025-01-3108802175ns5:PlantMachinery2025-01-3108802175ns5:LandBuildings2024-01-3108802175ns5:PlantMachinery2024-01-3108802175ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3108802175ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31
REGISTERED NUMBER: 08802175 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Watsons Haulage Limited

Watsons Haulage Limited (Registered number: 08802175)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Watsons Haulage Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Mr K Watson
Mr P Watson





REGISTERED OFFICE: Barrington Road
Bedlington
Northumberland
NE22 7AJ





REGISTERED NUMBER: 08802175 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Watsons Haulage Limited (Registered number: 08802175)

Balance Sheet
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 5 12,019 13,877
Tangible assets 6 510,617 558,321
522,636 572,198

CURRENT ASSETS
Debtors 7 156,179 214,276
Cash at bank and in hand 1,547,061 1,711,230
1,703,240 1,925,506
CREDITORS
Amounts falling due within one year 8 (117,962 ) (284,901 )
NET CURRENT ASSETS 1,585,278 1,640,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,107,914

2,212,803

CREDITORS
Amounts falling due after more than one
year

9

(578,511

)

(648,760

)

PROVISIONS FOR LIABILITIES (93,820 ) (131,689 )
NET ASSETS 1,435,583 1,432,354

CAPITAL AND RESERVES
Called up share capital 400 400
Profit and loss account 1,435,183 1,431,954
SHAREHOLDERS' FUNDS 1,435,583 1,432,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Mr P Watson - Director


Watsons Haulage Limited (Registered number: 08802175)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Watsons Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from haulage services, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Goodwill is fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licence plates are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Tangible fixed assets are measured at cost or deemed cost less accumulated depreciation and any accumulated impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.


Watsons Haulage Limited (Registered number: 08802175)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. ACCOUNTING POLICIES - continued
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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2024
and 31 January 2025 421,049 18,585 439,634
AMORTISATION
At 1 February 2024 421,049 4,708 425,757
Charge for year - 1,858 1,858
At 31 January 2025 421,049 6,566 427,615
NET BOOK VALUE
At 31 January 2025 - 12,019 12,019
At 31 January 2024 - 13,877 13,877

Watsons Haulage Limited (Registered number: 08802175)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2024 44,818 1,220,102 1,264,920
Additions - 74,679 74,679
Disposals - (97,168 ) (97,168 )
At 31 January 2025 44,818 1,197,613 1,242,431
DEPRECIATION
At 1 February 2024 26,121 680,478 706,599
Charge for year 1,869 97,522 99,391
Eliminated on disposal - (74,176 ) (74,176 )
At 31 January 2025 27,990 703,824 731,814
NET BOOK VALUE
At 31 January 2025 16,828 493,789 510,617
At 31 January 2024 18,697 539,624 558,321

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 74,004 111,916
Other debtors 82,175 102,360
156,179 214,276

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 28,048 50,724
Taxation and social security 15,853 176,007
Other creditors 74,061 58,170
117,962 284,901

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Other creditors 578,511 648,760