REGISTERED NUMBER: 03611832 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Watts Contracting Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

29,252

37,433

Current assets

Stocks

651,080

468,515

Debtors

5

139,984

97,430

Cash at bank

283,382

34,829

1,074,446

600,774

Creditors

Amounts falling due within one year

6

616,077

98,488

Net current assets

458,369

502,286

Total assets less current liabilities

487,621

539,719

Provisions for liabilities

483

959

Net assets

487,138

538,760

Capital and reserves

Called up share capital

7

100

100

Retained earnings

487,038

538,660

Shareholders' funds

487,138

538,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

W R Watts - Director

1.	Statutory information

Watts Contracting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03611832

Registered office:

Watts House

Carnaby Industrial Estate

Lancaster Road, Carnaby

Bridlington

East Riding

YO15 3QY

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Motor vehicles

25% on reducing balance

Plant and Machinery

20% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of scrap is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Interest and dividends receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to an assessment of the work performed to date. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company contributes to a defined contribution workplace pension plan for the benefit of its employees. Contributions are charged to the profit and loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 5 (2024 - 5 ) .

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 April 2024

and 31 March 2025

75,657

96,916

172,573

Depreciation

At 1 April 2024

52,121

83,019

135,140

Charge for year

4,707

3,474

8,181

At 31 March 2025

56,828

86,493

143,321

Net book value

At 31 March 2025

18,829

10,423

29,252

At 31 March 2024

23,536

13,897

37,433

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

71,776

73,834

Amounts owed by related group

69

11,937

Other debtors

67,072

-

VAT

-

10,432

Prepayments

1,067

1,227

139,984

97,430

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

90,018

75,845

Amounts owed to related group

433,548

-

Tax

50,030

7,220

Social security and other taxes

10,964

10,782

VAT

20,255

-

Other creditors

119

1,411

Accrued expenses

11,143

3,230

616,077

98,488

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

90

Ordinary

£1

90

90

10

A Ordinary

£1

10

10

100

100

8.	Related party disclosures

The work in progress figure includes amounts for work completed for related parties, these will be invoiced upon completion.