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REGISTERED NUMBER: 07061659 (England and Wales)












F G Watts Financial Advisers Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






F G Watts Financial Advisers Limited (Registered number: 07061659)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F G Watts Financial Advisers Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: B Thompson
G T Howes
T J Panther
G R Thompson
D Baldwin
S R Jellis





REGISTERED OFFICE: 5 Mobbs Miller House
Christchurch Road
Northampton
Northamptonshire
NN1 5LL





REGISTERED NUMBER: 07061659 (England and Wales)





ACCOUNTANTS: Kilby Fox
Chartered Accountants
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

F G Watts Financial Advisers Limited (Registered number: 07061659)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,739 2,929
2,739 2,929

CURRENT ASSETS
Debtors 6 65,106 59,397
Cash at bank and in hand 367,514 294,478
432,620 353,875
CREDITORS
Amounts falling due within one year 7 143,226 94,707
NET CURRENT ASSETS 289,394 259,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,133

262,097

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 292,033 261,997
SHAREHOLDERS' FUNDS 292,133 262,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

F G Watts Financial Advisers Limited (Registered number: 07061659)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:




G R Thompson - Director



T J Panther - Director


F G Watts Financial Advisers Limited (Registered number: 07061659)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

F G Watts Financial Advisers 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.

2. ACCOUNTING POLICIES

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

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement 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.

Turnover
This represents the amounts of commissions and fees earned. Commission is accounted for on receipt from the product provider. Fees are accounted for on receipt from the client (often facilitated by the product provider).

Goodwill
Goodwill, representing the purchase consideration arising from the acquisition of unincorporated businesses. Goodwill is written off to the profit and loss account over 10 years.

F G Watts Financial Advisers Limited (Registered number: 07061659)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Indemnity commission
Indemnity commission is often received when new protection business is written. It may also be received when new members join an existing group scheme or contributions are increased for existing group scheme members. There is the prospect of commission clawback if a new business case is cancelled which was previously written on an indemnity commission basis. This only applies if the case is cancelled within a detailed period of up to 4 years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 183,011
AMORTISATION
At 1 January 2024
and 31 December 2024 183,011
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant &
machinery
etc
£   
COST
At 1 January 2024 23,545
Additions 1,299
At 31 December 2024 24,844
DEPRECIATION
At 1 January 2024 20,616
Charge for year 1,489
At 31 December 2024 22,105
NET BOOK VALUE
At 31 December 2024 2,739
At 31 December 2023 2,929

F G Watts Financial Advisers Limited (Registered number: 07061659)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,622 -
Other debtors 55,484 59,397
65,106 59,397

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 89,053 77,056
Taxation and social security 51,792 17,651
Other creditors 2,381 -
143,226 94,707

8. ULTIMATE CONTROLLING PARTY

No one person has control of the Company.