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COMPANY REGISTRATION NUMBER: 01002585
GORDON WATSON LTD
Filleted Unaudited Financial Statements
30 September 2024
GORDON WATSON LTD
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
5,118
6,021
Current assets
Stocks
3,496,591
3,253,191
Debtors: due within one year
5
88,062
3,776
Cash at bank and in hand
21,625
59,966
------------
------------
3,606,278
3,316,933
Prepayments and accrued income
3,846
3,871
Creditors: amounts falling due within one year
6
1,969,792
1,594,375
------------
------------
Net current assets
1,640,332
1,726,429
------------
------------
Total assets less current liabilities
1,645,450
1,732,450
Provisions
Taxation including deferred tax
1,084
1,084
------------
------------
Net assets
1,644,366
1,731,366
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,644,266
1,731,266
------------
------------
Shareholders funds
1,644,366
1,731,366
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GORDON WATSON LTD
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
Mr G D Watson
Director
Company registration number: 01002585
GORDON WATSON LTD
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Wolsey Mansions, Main Avenue, Northwood, Middlesex, HA6 2HL.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
over the term of the lease
Fixtures & Fittings
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
4. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
22,173
83,192
105,365
--------
--------
---------
Depreciation
At 1 October 2023
22,173
77,171
99,344
Charge for the year
903
903
--------
--------
---------
At 30 September 2024
22,173
78,074
100,247
--------
--------
---------
Carrying amount
At 30 September 2024
5,118
5,118
--------
--------
---------
At 30 September 2023
6,021
6,021
--------
--------
---------
5. Debtors
Debtors falling due within one year are as follows:
2024
2023
£
£
Trade debtors
85,326
3,776
Other debtors
2,736
--------
-------
88,062
3,776
--------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,968
3,563
Social security and other taxes
985
3,846
Director loan accounts
1,916,940
1,535,365
Other creditors
48,899
51,601
------------
------------
1,969,792
1,594,375
------------
------------
7. Related party transactions
The company was under the control of Mr G D Watson throughout the current and previous year. Mr G D Watson is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.