REGISTERED NUMBER: 12330334 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Gwilym Watts Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Bray

M L Collins

REGISTERED OFFICE:

315, Regents Park Road

Finchley London

N3 1DP

REGISTERED NUMBER:

12330334 (England and Wales)

ACCOUNTANTS:

Proview Accountants

315, Regents Park Road

Finchley Central

London

N3 1DP

FIXED ASSETS

Tangible assets

4

175,878

212,890

CURRENT ASSETS

Debtors

5

944,565

474,593

Cash at bank

107,132

489,695

1,051,697

964,288

CREDITORS

Amounts falling due within one year

6

380,361

321,216

NET CURRENT ASSETS

671,336

643,072

TOTAL ASSETS LESS CURRENT LIABILITIES

847,214

855,962

CREDITORS

Amounts falling due after more than one year

7

(97,776

)

(105,067

)

PROVISIONS FOR LIABILITIES

8

(43,970

)

(21,617

)

NET ASSETS

705,468

729,278

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

705,368

729,178

SHAREHOLDERS' FUNDS

705,468

729,278

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2025 and were signed on its behalf by:

M S Bray - Director

M L Collins - Director

1.	STATUTORY INFORMATION

Gwilym Watts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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:

Computer equipment - 20% straight line

Plant and machinery -20% straight line

Motor vehicle -20% straight line

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Cash at bank and in hand

Cash and cash equivalents 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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

117,773

134,492

21,483

273,748

Additions

9,925

-

-

9,925

At 31 March 2025

127,698

134,492

21,483

283,673

DEPRECIATION

At 1 April 2024

31,491

22,415

6,952

60,858

Charge for year

18,253

26,899

1,785

46,937

At 31 March 2025

49,744

49,314

8,737

107,795

NET BOOK VALUE

At 31 March 2025

77,954

85,178

12,746

175,878

At 31 March 2024

86,282

112,077

14,531

212,890

5.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

542,390

80,000

Other debtors

24,364

22,151

566,754

102,151

Amounts falling due after more than one year:

Other debtors

377,811

372,442

Aggregate amounts

944,565

474,593

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

40,319

40,319

Trade creditors

104,939

94,118

Amounts owed to group undertakings

96,755

90,028

Taxation and social security

73,120

30,323

Other creditors

65,228

66,428

380,361

321,216

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

97,776

105,067

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

43,970

21,617

Deferred

tax

£

Balance at 1 April 2024

21,617

Provided during year

22,353

Balance at 31 March 2025

43,970

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary Shares

£1

100

100

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are wholly owned part of the group.

11.	PARENT COMPANY

The company is a wholly owned subsidiary of Mathew Bray & Matthew Collins Ltd, a company incorporated in England and Wales.

The group headed by Mathew Bray & Matthew Collins Ltd does not prepare consolidated financial statements as it is exempt as a small group under s383 of the Companies Act 2006.