| Reed Watts Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of architectural services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
2- 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is not recognised in respect of timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is considered not material to the true and fair view of the financial statements. Current and deferred tax liabilities are not discounted. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
7 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2024 |
15,736 |
|
At 31 March 2025 |
15,736 |
|
|
|
|
|
|
|
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|
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Depreciation |
|
At 1 April 2024 |
14,032 |
|
Charge for the year |
1,704 |
|
At 31 March 2025 |
15,736 |
|
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|
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|
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Net book value |
|
At 31 March 2025 |
- |
|
At 31 March 2024 |
1,704 |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
80,272 |
|
62,783 |
|
Other debtors |
22,904 |
|
16,539 |
|
|
|
|
|
|
103,176 |
|
79,322 |
|
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Directors loan accounts |
|
1,600 |
|
1,600 |
|
Taxation and social security costs |
45,852 |
|
58,053 |
|
Other creditors |
7,818 |
|
3,098 |
|
|
|
|
|
|
55,270 |
|
62,751 |
|
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| 6 |
Other information |
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Reed Watts Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
104a St. John Street |
|
London |
|
EC1M 4EH |