Watts & Co., (Specialist Painting & Decorating) Limited 31/03/2025 iXBRL

Company registration number: 04414935

Watts & Co., (Specialist Painting & Decorating) Limited

Unaudited filleted financial statements

31 March 2025

Watts & Co., (Specialist Painting & Decorating) Limited

Contents

Directors and other information

Accountant's report

Statement of financial position

Notes to the financial statements

Watts & Co., (Specialist Painting & Decorating) Limited

Directors and other information


	Director	B Crockford


	Secretary	B Crockford


	Company number	04414935


	Registered office	First Floor Offices
		99 Bancroft
		Hitchin
		Hertfordshire
		SG5 1NQ


	Accountant	Hicks and Company
		Chartered Accountant
		First Floor
		99 Bancroft
		Hitchin
		Hertfordshire
		SG5 1NQ

Watts & Co., (Specialist Painting & Decorating) Limited

Chartered accountant's report to the director on the preparation of the

unaudited statutory financial statements of Watts & Co., (Specialist Painting & Decorating) Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Watts & Co., (Specialist Painting & Decorating) Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Watts & Co., (Specialist Painting & Decorating) Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Watts & Co., (Specialist Painting & Decorating) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Watts & Co., (Specialist Painting & Decorating) Limited and its director as a body for my work or for this report.

It is your duty to ensure that Watts & Co., (Specialist Painting & Decorating) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Watts & Co., (Specialist Painting & Decorating) Limited. You consider that Watts & Co., (Specialist Painting & Decorating) Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Watts & Co., (Specialist Painting & Decorating) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Hicks and Company

Chartered Accountant

First Floor

99 Bancroft

Hitchin

Hertfordshire

SG5 1NQ

8 September 2025

Watts & Co., (Specialist Painting & Decorating) Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Current assets
Debtors	5	-		3,000
Cash at bank and in hand		12,532		15,961
		_______		_______
		12,532		18,961
Creditors: amounts falling due
within one year	6	( 8,812)		( 11,855)
		_______		_______
Net current assets			3,720		7,106
			_______		_______
Total assets less current liabilities			3,720		7,106

			_______		_______
Net assets			3,720		7,106
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			2,720		6,106
			_______		_______
Shareholders funds			3,720		7,106
			_______		_______

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 September 2025 , and are signed on behalf of the board by:

B Crockford

Director

Company registration number: 04414935

Watts & Co., (Specialist Painting & Decorating) Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Debtors

	2025	2024
	£	£
Other debtors	-	3,000
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	6,617	9,702
Social security and other taxes	226	184
Other creditors	1,969	1,969
	_______	_______
	8,812	11,855
	_______	_______

7. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	B Crockford	200	( 200)	-
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	B Crockford	-	200	200
		_______	_______	_______

The above existing loan is unsecured, interest free and repayable on demand.