REGISTERED NUMBER: 13057312 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WATSONS PLANTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C J Watson

REGISTERED OFFICE:

Suite 4, East Barton Barns

East Barton Road

Great Barton

Bury St. Edmunds

Suffolk

IP31 2QY

REGISTERED NUMBER:

13057312 (England and Wales)

ACCOUNTANTS:

Twinn Accountants Limited

Suite 4, East Barton Barns

East Barton Road

Great Barton

Bury St. Edmunds

Suffolk

IP31 2QY

FIXED ASSETS

Intangible assets

4

120,000

140,000

Tangible assets

5

30,000

30,000

150,000

170,000

CURRENT ASSETS

Stocks

6

23,905

72,930

Debtors

7

5,815

839

Cash at bank

3,021

6,501

32,741

80,270

CREDITORS

Amounts falling due within one year

8

284,634

266,882

NET CURRENT LIABILITIES

(251,893

)

(186,612

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(101,893

)

(16,612

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(101,993

)

(16,712

)

SHAREHOLDERS' FUNDS

(101,893

)

(16,612

)

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 director acknowledges his 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.

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 director and authorised for issue on 9 September 2025 and were signed by:

Mr C J Watson - Director

1.	STATUTORY INFORMATION

Watsons Plants Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

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.

Freehold property

-

not provided

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Going concern

The company made a pre tax loss for the year of £90,459 (2023 profit of £7,241) and at the balance sheet date had net liabilities of £101,993. Included in creditors is £241,793 owed to the director. The director has confirmed that he will not seek repayment of this amount and will continue to support the company to enable it to meet its liabilities as they fall due. Consequently, these accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

200,000

AMORTISATION

At 1 January 2024

60,000

Charge for year

20,000

At 31 December 2024

80,000

NET BOOK VALUE

At 31 December 2024

120,000

At 31 December 2023

140,000

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2024

and 31 December 2024

30,000

NET BOOK VALUE

At 31 December 2024

30,000

At 31 December 2023

30,000

6.

STOCKS

2024

2023

£

£

Stock

23,905

72,930

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

5,178

303

Prepayments

637

536

5,815

839

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans (see note 9)

-

16,667

Corporation tax

-

5,179

Social security and other taxes

446

-

VAT

17,385

-

Other creditors

23,180

14,663

Director's current account

241,793

228,081

Accrued expenses

1,830

2,292

284,634

266,882

9.

LOANS

Other loans are guaranteed by the director.