Registration number: 09184284

Watson Buckle Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Watson Buckle Limited

(Registration number: 09184284)
Balance Sheet as at 30 December 2024

	Note	2024 £		2023 £
Fixed assets
Intangible assets	4		1		183,300
Tangible assets	5		179,598		207,544
Investments	6		69,677		69,677
Other financial assets	7		20,600		20,600
			269,876		481,121
Current assets
Debtors	8	1,456,119		1,084,846
Cash at bank and in hand		26,229		18,117
		1,482,348		1,102,963
Creditors: Amounts falling due within one year	9	(513,807)		(468,558)
Net current assets			968,541		634,405
Total assets less current liabilities			1,238,417		1,115,526
Creditors: Amounts falling due after more than one year	9		-		(25,235)
Provisions for liabilities			(34,000)		(43,600)
Net assets			1,204,417		1,046,691
Capital and reserves
Called up share capital	10	800		800
Capital redemption reserve		1,200		1,200
Retained earnings		1,202,417		1,044,691
Shareholders' funds			1,204,417		1,046,691

Watson Buckle Limited

(Registration number: 09184284)
Balance Sheet as at 30 December 2024

For the financial year ending 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 September 2025 and signed on its behalf by:
 

.........................................

M C Wilcock

Director

Watson Buckle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

1	General information

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

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

These financial statements were authorised for issue by the Board on 27 September 2025.

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 have been 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

Fee income represents revenue earned under a wide variety of contracts. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under those contracts. It is measured at the fair value of the right to consideration, which represents the amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual to the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue is included in creditors (where applicable). Revenue that is contingent on events outside the control of the company is recognised when the contingent event occurs.

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.

Watson Buckle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% reducing balance
Leasehold property improvements	Over the term of the lease
Plant and machinery	10% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Between 3 and 10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Watson Buckle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.
 

Watson Buckle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 36).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 31 December 2023	2,241,240	2,241,240
At 30 December 2024	2,241,240	2,241,240
Amortisation
At 31 December 2023	2,057,940	2,057,940
Amortisation charge	183,299	183,299
At 30 December 2024	2,241,239	2,241,239
Carrying amount
At 30 December 2024	1	1
At 30 December 2023	183,300	183,300

5	Tangible assets

	Plant and machinery  £	Furniture, fittings and equipment  £	Leasehold property improvements  £	Total £
Cost or valuation
At 31 December 2023	10,413	157,533	188,567	356,513
Additions	-	11,318	-	11,318
Disposals	-	(9,274)	-	(9,274)
At 30 December 2024	10,413	159,577	188,567	358,557
Depreciation
At 31 December 2023	2,088	92,881	54,000	148,969
Charge for the year	1,044	19,189	18,000	38,233
Eliminated on disposal	-	(8,243)	-	(8,243)
At 30 December 2024	3,132	103,827	72,000	178,959
Carrying amount
At 30 December 2024	7,281	55,750	116,567	179,598
At 30 December 2023	8,325	64,652	134,567	207,544

Watson Buckle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

6	Investments

	2024 £	2023 £
Investments in joint ventures	69,677	69,677