Watts Garages (South East) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08359707 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

WATTS GARAGES (SOUTH EAST) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

C J Watts

K Watts

REGISTERED OFFICE:

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

REGISTERED NUMBER:

08359707 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

FIXED ASSETS

Tangible assets

4

287,885

Investments

5

840,466

979,669

1,128,351

1,267,554

CURRENT ASSETS

Stocks

90,829

65,829

Debtors

6

94,624

94,180

Cash at bank

29,267

78,987

214,720

238,996

CREDITORS

Amounts falling due within one year

7

53,127

99,272

NET CURRENT ASSETS

161,593

139,724

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,289,944

1,407,278

CAPITAL AND RESERVES

Called up share capital

9

100

Revaluation reserve

10

53,532

99,561

Retained earnings

10

1,236,312

1,307,617

SHAREHOLDERS' FUNDS

1,289,944

1,407,278

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 22 December 2025 and were signed on its behalf by:

C J Watts - Director

1.	STATUTORY INFORMATION

Watts Garages (South East) 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.

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 as modified by the revaluation of certain assets.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. The directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2024

and 31 March 2025

287,885

NET BOOK VALUE

At 31 March 2025

287,885

At 31 March 2024

287,885

5.	FIXED ASSET INVESTMENTS

31.3.25

31.3.24

£

Other investments not loans

690,466

779,669

Other loans

150,000

200,000

840,466

979,669

Additional information is as follows:

Listed

investments

£

COST OR VALUATION

At 1 April 2024

779,669

Disposals

(46,061

)

Revaluations

(43,142

)

At 31 March 2025

690,466

NET BOOK VALUE

At 31 March 2025

690,466

At 31 March 2024

779,669

Cost or valuation at 31 March 2025 is represented by:

Listed

investments

£

Valuation in 2020

(128,928

)

Valuation in 2021

104,654

Valuation in 2022

(21,163

)

Valuation in 2023

83,506

Valuation in 2024

(4,328

)

Valuation in 2025

(46,029

)

Cost

702,754

690,466

Other

loans

£

At 1 April 2024

200,000

New in year

(50,000

)

At 31 March 2025

150,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

93,880

VAT

744

300

94,624

94,180

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Tax

3,746

4,244

Directors' current accounts

47,832

93,529

Accrued expenses

1,549

1,499

53,127

99,272

8.	SECURED DEBTS

A fixed and floating charge exists over the company. The floating charge covers all the property or undertaking of the company. The charge contains a negative pledge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

100

Ordinary

£1

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 April 2024

1,307,617

99,561

1,407,178

Profit for the year

15,796

Dividends

(87,101

)

(87,101

)

Fixed asset revaluation

-

(46,029

)

(46,029

)

At 31 March 2025

1,236,312

53,532

1,289,844

11.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £47,832 (2024: 93,529) to the directors.

The loans are interest free and have no fixed repayment date.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Watts Garages (South East) Ltd for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Watts Garages (South East) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Watts Garages (South East) Ltd and state those matters that we have agreed to state to the Board of Directors of Watts Garages (South East) Ltd, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Watts Garages (South East) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Watts Garages (South East) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Watts Garages (South East) Ltd. You consider that Watts Garages (South East) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Watts Garages (South East) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

22 December 2025