WATSONS BUILDING SERVICES LIMITED


Directors	CHALLENGER, Vincent
	DRAKE, Marcus Damian
	PELTIER, Dean


Registered Address	Watson House
	Howden Road, Silsden
	Keighley
	BD20 0HD


Registered Number	03917637 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

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. The company is a wholly owned subsidiary undertaking of Watsons BS (Holdings) Limited a company registered in England and Wales. The ultimate parent company is Watsons BS Group Limited a company registered in England and Wales. The financial statements of Watsons BS (Holdings) Limited are available to the public and may be obtained from Companies House, Cardiff, CF14 3UZ.

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.

The company is a wholly owned subsidiary undertaking of Watsons BS (Holdings) Limited a company registered in England and Wales.

The ultimate parent company is Watsons BS Group Limited a company registered in England and Wales. 

The financial statements of Watsons BS (Holdings) Limited are available to the public and may be obtained from Companies House, Cardiff, CF14 3UZ.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The financial statements have been prepared on the going concern basis.

	Turnover policy
	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/or 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.

Turnover policy

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/or 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.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	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.

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.

	Intangible assets
	All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows: Goodwill - 10 years

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Office equipment includes computer equipment which is depreciated over 3 years on a straight line basis

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:
Office equipment includes computer equipment which is depreciated over 3 years on a straight line basis


		Straight line (years)
	Land and buildings	4
	Plant and machinery	7
	Vehicles	4
	Office Equipment	7

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	34		30

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	800,000	800,000
At 31 March 25	800,000	800,000
Amortisation and impairment
At 01 April 24	800,000	800,000
At 31 March 25	800,000	800,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	189,876	120,926	323,697	129,776	764,275
Additions	-	13,288	85,100	7,751	106,139
Disposals	-	-	(30,740)	(38,693)	(69,433)
At 31 March 25	189,876	134,214	378,057	98,834	800,981
Depreciation and impairment
At 01 April 24	189,876	102,208	160,086	115,280	567,450
Charge for year	-	5,685	64,515	8,376	78,576
On disposals	-	-	(30,739)	(38,646)	(69,385)
At 31 March 25	189,876	107,893	193,862	85,010	576,641
Net book value
At 31 March 25	-	26,321	184,195	13,824	224,340
At 31 March 24	-	18,718	163,611	14,496	196,825

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	864,053	406,321
Amounts owed by group undertakings	3,966,547	3,676,373
Other debtors	2,726,648	2,731,384
Total	7,557,248	6,814,078


	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.

6.	Debtors: amounts due after one year

	2025	2024
	£	£
Trade debtors / trade receivables	145,173	197,480
Total	145,173	197,480

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	358,460	313,403
Taxation and social security	440,833	369,441
Payments received on account	4,174,438	3,841,884
Other creditors	41,126	53,571
Total	5,014,857	4,578,299


	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.

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Trade creditors / trade payables	139,060	285,498
Total	139,060	285,498

9.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.

	2025	2024
	£	£
Net deferred tax liability (asset)	42,000	35,000
Total	42,000	35,000

10.	Pension commitments
	The Company operates a number of defined contribution pension schemes and makes discretionary payments to employees' personal pension plans. The assets of the schemes are held separately from those of the Company in independently administered funds. Contributions totalling £6,148 (2024 - £11,339) were payable to the funds at the reporting date.

11.	Other commitments
	At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £74,841 (2024 - £54,617) Later than 1 year and not later than 5 years £122,420 (2024 - £124,988) Later than 5 years £Nil (2024 - £Nil)

12.	Related party transactions
	Included in debtors, amounts falling due within one year, is an amount of £3,586,540 (2024 - £3,586,540) due from Watsons BS (Holdings) Limited. This amount is interest free and repayable on demand. Included in debtors, amounts falling due within one year, is an amount of £380,007 (2024 - £89,832) due from Watsons BS Group Limited. This amount is interest free and repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		224,340		196,825
			224,340		196,825
Current assets
Stocks		18,324		19,416
Debtors	5,6	7,702,421		7,011,558
Cash at bank and on hand		2,240,438		1,644,065
		9,961,183		8,675,039
Creditors amounts falling due within one year	7	(5,014,857)		(4,578,299)
Net current assets (liabilities)			4,946,326		4,096,740
Total assets less current liabilities			5,170,666		4,293,565
Creditors amounts falling due after one year	8		(139,060)		(285,498)
Provisions for liabilities	9		(42,000)		(35,000)
Net assets			4,989,606		3,973,067
Capital and reserves
Called up share capital			49,250		49,250
Share premium			39,690		39,690
Profit and loss account			4,900,666		3,884,127
Shareholders' funds			4,989,606		3,973,067