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Watt Utilities Limited

Registered Number
06702949
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

Watt Utilities Limited
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Peter Matthew Hunter

Registered Address

St Ann's House
3rd Floor
St Ann's Square
M2 7LP

Registered Number

06702949 (England and Wales)
Watt Utilities Limited
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors4820,18081,723
Current asset investments4,934,8195,364,375
Cash at bank and on hand30,083178,542
5,785,0825,624,640
Creditors amounts falling due within one year5(1,711,015)(1,041,463)
Net current assets (liabilities)4,074,0674,583,177
Total assets less current liabilities4,074,0674,583,177
Creditors amounts falling due after one year6(3,862,462)(3,876,263)
Net assets211,605706,914
Capital and reserves
Profit and loss account211,605706,914
Shareholders' funds211,605706,914
The financial statements were approved and authorised for issue by the Director on 27 June 2025, and are signed on its behalf by:
Peter Matthew Hunter
Director
Registered Company No. 06702949
Watt Utilities Limited
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.Average number of employees

20242023
Average number of employees during the year4044
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 23137,753
At 30 September 24137,753
Depreciation and impairment
At 01 October 23137,753
At 30 September 24137,753
Net book value
At 30 September 24-
At 30 September 23-
4.Debtors: amounts due within one year

2024

2023

££
Amounts owed by associates and joint ventures / participating interests795,65657,199
Other debtors24,52424,524
Total820,18081,723
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables165,361217,957
Amounts owed to related parties33,987158,331
Taxation and social security522,104148,350
Finance lease and HP contracts989,563516,825
Total1,711,0151,041,463
6.Creditors: amounts due after one year

2024

2023

££
Other creditors3,862,4623,876,263
Total3,862,4623,876,263
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts2,034,4911,919,443