REGISTERED NUMBER: SC285080 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 September 2025

for

William Watson & Co Accountants Ltd

Page

Company Information

1

Report of the Director

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

W Watson

REGISTERED OFFICE:

51 Lynnhurst

Uddingston

GLASGOW

Lanarkshire

G71 6SA

REGISTERED NUMBER:

SC285080 (Scotland)

ACCOUNTANTS:

William Watson & Company Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

The director presents his report with the financial statements of the company for the year ended 30 September 2025.

REVIEW OF BUSINESS

The price of gold continues to rise which underlines concerns around a possible bubble in the stock market. At $3,864.14 for an ounce of gold this feeds into the narrative of uncertainty around the world. Gold is often seen as the safe home of excess savings and long term security. Many commentators were too quick to write down the treatment of tariffs as a negative impact on the US economy. However the latest quarter for the US market sees the OECD (Organization for Economic Co-operation and Development) interim report suggests that the USA has an import tariff rate of 19.5%. This is the highest since 1933, the great depression. The UK economy still struggles to achieve any positive moves on gdp and growth. Banking in Scotland has become more stagnated with the Clydesdale group re branding to Virgin money only to be sold to Nationwide Group.

We have relaunched our website and targeting information for clients that can assist them with proper tax planning and making tax digital for 2026 onwards. Currently we have stopped taking on new clients as we continue to roll out the training on xero and other platforms. Turnover has increased by 30% this year.

The director continues to support the company by deferring any repayments to his loan account which is in credit. The company does not require any working capital from external lenders however it has taken advantage of interest free loans to fund capital expenditure.

DIRECTOR

W Watson held office during the whole of the period from 1 October 2024 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year the company continued to make donation to Christians Against Poverty and Glasgow City Mission. These charities offer solutions to people trapped in debt and operate in Glasgow and the UK.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

W Watson - Director

1 October 2025

FIXED ASSETS

Intangible assets

4

-

15,255

Tangible assets

5

45,762

34,324

45,762

49,579

CURRENT ASSETS

Debtors

6

3,149

1,621

Cash at bank

-

34

3,149

1,655

CREDITORS

Amounts falling due within one year

7

27,012

25,194

NET CURRENT LIABILITIES

(23,863

)

(23,539

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,899

26,040

CREDITORS

Amounts falling due after more than one year

8

111,208

111,582

NET LIABILITIES

(89,309

)

(85,542

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(89,409

)

(85,642

)

SHAREHOLDERS' FUNDS

(89,309

)

(85,542

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 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 1 October 2025 and were signed by:

W Watson - Director

1.	STATUTORY INFORMATION

William Watson & Co Accountants Ltd is a private company, limited by shares , registered in Scotland. 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 2005, is being amortised evenly over its estimated useful life of twenty 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.

Plant and machinery etc

-

33% on cost and 25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

305,100

AMORTISATION

At 1 October 2024

289,845

Charge for year

15,255

At 30 September 2025

305,100

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

15,255

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

52,469

Additions

27,183

At 30 September 2025

79,652

DEPRECIATION

At 1 October 2024

18,145

Charge for year

15,745

At 30 September 2025

33,890

NET BOOK VALUE

At 30 September 2025

45,762

At 30 September 2024

34,324

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

3,088

1,560

Other debtors

61

61

3,149

1,621

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans and overdrafts

5,522

-

Hire purchase contracts

7,332

7,332

Social security and other taxes

10,406

11,205

VAT

3,203

5,657

Accrued expenses

549

1,000

27,012

25,194

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

£

£

Director's Loan account

108,074

101,182

Hire purchase contracts

3,134

10,400

111,208

111,582

9.	DEFERRED TAX

£

Balance at 1 October 2024

(61

)

Balance at 30 September 2025

(61

)