Registered number
12886538
Watson Housing Ltd
Filleted Accounts
31 March 2025
Watson Housing Ltd
Registered number: 12886538
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 520,627 520,627
Current assets
Debtors 4 8,000 -
Cash at bank and in hand 795 11,506
8,795 11,506
Creditors: amounts falling due within one year 5 (305,596) (320,333)
Net current liabilities (296,801) (308,827)
Total assets less current liabilities 223,826 211,800
Creditors: amounts falling due after more than one year 6 (188,495) (188,495)
Net assets 35,331 23,305
Capital and reserves
Called up share capital 4 4
Profit and loss account 35,327 23,301
Shareholders' funds 35,331 23,305
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 accounts have been prepared on the going concern basis on the understanding that the directors, shareholders and trade creditors will continue to financially support the company for the forseeable future.
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.
J Watson
Director
Approved by the board on 24 June 2025
Watson Housing Ltd
Notes to the Accounts
for the year ended 31 March 2025
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2024 520,627
At 31 March 2025 520,627
Depreciation
At 31 March 2025 -
Net book value
At 31 March 2025 520,627
At 31 March 2024 520,627
4 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 8,000 -
5 Retained earnings
The split of retained earnings between distributable and non-distributable is as follows:
Distributable Non-distributable Total
£ £ £
As at 1 April 2023 23,301 - 23,301
Profit for financial year 12,026 12,026
Property revaluation movement - -
Interest rate swap adjustment -
Deferred tax on investment property - -
Deferred tax on interest swap -
35,327 - 35,327
5 Creditors: amounts falling due within one year 2025 2024
£ £
Directors Loan 302,019 317,019
Taxation and social security costs 2,821 2,558
Other creditors 756 756
305,596 320,333
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 188,495 188,495
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
James Watson
(317,019) 15,000 - (302,019)
(317,019) 15,000 - (302,019)
8 Controlling party
J Watson & J Baird share equal control by virtue of their shareholdings and directorships.
9 Other information
Watson Housing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Parker House
44 Stafford Road
Wallington
Surrey
SM6 9AA
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