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Registration number: 04439816

Watts Surveyors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Watts Surveyors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Watts Surveyors Limited

(Registration number: 04439816)
Balance Sheet as at 31 December 2024

Note

31 December 2024
£

31 December 2023
£

           

Fixed assets

   

 

Tangible assets

4

 

7

 

10

Current assets

   

 

Debtors

5

333,359

 

231,318

 

Cash at bank and in hand

 

171,148

 

300,289

 

 

504,507

 

531,607

 

Creditors: Amounts falling due within one year

6

(205,835)

 

(238,381)

 

Net current assets

   

298,672

 

293,226

Net assets

   

298,679

 

293,236

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Retained earnings

298,579

 

293,136

 

Shareholders' funds

   

298,679

 

293,236

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2025
 

.........................................
J B Watts
Director

 

Watts Surveyors Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
704 Bradford Road
Birkenshaw
Bradford
West Yorkshire
BD11 2AE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Watts Surveyors Limited

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

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

 

Watts Surveyors Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Office equipment
 £

Total
£

Cost

At 1 January 2024

3,000

3,000

At 31 December 2024

3,000

3,000

Depreciation

At 1 January 2024

2,990

2,990

Charge for the year

3

3

At 31 December 2024

2,993

2,993

Carrying amount

At 31 December 2024

7

7

At 31 December 2023

10

10

5

Debtors

31 December
2024
£

31 December
2023
£

Other debtors

333,359

231,318

333,359

231,318

 

Watts Surveyors Limited

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

6

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

31 December
2023
£

Due within one year

Taxation and social security

1,300

4,900

Accruals and deferred income

2,337

1,917

Other creditors

202,198

231,564

205,835

238,381

7

Share capital

Allotted, called up and fully paid shares

31 December
2024

31 December
2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100