Company Registration No. 04523789 (England and Wales)
WATTS MAHER LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
31 March 2025
PAGES FOR FILING WITH REGISTRAR
WATTS MAHER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WATTS MAHER LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,251
19,381
Current assets
Stocks
50
50
Debtors
4
13,501
11,130
Cash at bank and in hand
10,589
11,542
24,140
22,722
Creditors: amounts falling due within one year
5
(38,069)
(40,055)
Net current liabilities
(13,929)
(17,333)
Total assets less current liabilities
2,322
2,048
Provisions for liabilities
(2,251)
(2,752)
Net assets/(liabilities)
71
(704)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
69
(706)
Total equity
71
(704)

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 September 2025 and are signed on its behalf by:
Mr S Maher
Director
Company registration number 04523789 (England and Wales)
WATTS MAHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Watts Maher Limited is a private company limited by shares incorporated in England and Wales. The registered office is 310 Sydney Road, Crewe, Cheshire, CW1 5LU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Store
10% reducing balance
Equipment and vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

WATTS MAHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

WATTS MAHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
WATTS MAHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Land and buildings
Equipment and vehicles
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
32,868
52,805
85,673
Depreciation and impairment
At 1 April 2024
27,973
38,319
66,292
Depreciation charged in the year
490
2,640
3,130
At 31 March 2025
28,463
40,959
69,422
Carrying amount
At 31 March 2025
4,405
11,846
16,251
At 31 March 2024
4,895
14,486
19,381
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,981
5,725
Other debtors
10,520
5,405
13,501
11,130
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
8,374
14,521
Trade creditors
11,771
5,089
Corporation tax
13,033
13,736
Other taxation and social security
3,091
4,959
Other creditors
1,800
1,750
38,069
40,055
6
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
WATTS MAHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Related party transactions
Transactions with related parties

The following amounts were outstanding at the reporting end date:

During the year the director s received an interest free loan.
The amount outstanding at 31 March 2025 was £9667, which is repayable on demand and classified in debtors. (2024 £4414)

2025-03-31 2024-04-01 false false false 11 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr S A Maher Mr A C Watts Mrs K Maher 04523789 2024-04-01 2025-03-31 04523789 2025-03-31 04523789 2024-03-31 04523789 core:LandBuildings 2025-03-31 04523789 core:OtherPropertyPlantEquipment 2025-03-31 04523789 core:LandBuildings 2024-03-31 04523789 core:OtherPropertyPlantEquipment 2024-03-31 04523789 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04523789 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04523789 core:WithinOneYear 2025-03-31 04523789 core:WithinOneYear 2024-03-31 04523789 core:CurrentFinancialInstruments 2025-03-31 04523789 core:CurrentFinancialInstruments 2024-03-31 04523789 core:ShareCapital 2025-03-31 04523789 core:ShareCapital 2024-03-31 04523789 core:RetainedEarningsAccumulatedLosses 2025-03-31 04523789 core:RetainedEarningsAccumulatedLosses 2024-03-31 04523789 core:ShareCapitalOrdinaryShareClass1 2025-03-31 04523789 core:ShareCapitalOrdinaryShareClass1 2024-03-31 04523789 bus:Director1 2024-04-01 2025-03-31 04523789 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04523789 core:PlantMachinery 2024-04-01 2025-03-31 04523789 core:FinancialLiabilitiesAmortisedCost 2024-04-01 2025-03-31 04523789 1 2024-04-01 2025-03-31 04523789 2023-04-01 2024-03-31 04523789 core:LandBuildings 2024-03-31 04523789 core:OtherPropertyPlantEquipment 2024-03-31 04523789 2024-03-31 04523789 core:LandBuildings 2024-04-01 2025-03-31 04523789 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 04523789 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04523789 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04523789 bus:FRS102 2024-04-01 2025-03-31 04523789 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04523789 bus:Director2 2024-04-01 2025-03-31 04523789 bus:CompanySecretary1 2024-04-01 2025-03-31 04523789 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP