Registration number: 7898627

Dean Watkins Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Dean Watkins Ltd

Company Information

Director

Mr Dean Watkins

Registered office

Kings Arms Vaults Watton Brecon Powys LD3 7EF

Accountants

King Morter Proud & Co Limited Chartered Accountants Kings Arms Vaults Watton Brecon Powys LD3 7EF

Dean Watkins Ltd

(Registration number: 7898627)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	231,423	324,429
Current assets
Stocks	5	179,262	207,116
Debtors	6	283,649	235,541
Cash at bank and in hand		129,369	149,790
		592,280	592,447
Creditors: Amounts falling due within one year	7	(158,418)	(187,620)
Net current assets		433,862	404,827
Total assets less current liabilities		665,285	729,256
Creditors: Amounts falling due after more than one year	7	(21,516)	(37,601)
Provisions for liabilities		(65,009)	(65,009)
Net assets		578,760	626,646
Capital and reserves
Called up share capital	8	1	1
Retained earnings		578,759	626,645
Shareholders' funds		578,760	626,646

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 December 2025
 

Dean Watkins Ltd

(Registration number: 7898627)
Balance Sheet as at 31 March 2025

......................................... Mr Dean Watkins Director

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the director on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & machinery	20% per annum on cost
Equipment	20% per annum on cost
Motor vehicles	20% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	6,382	838,366	63,783	908,531
Additions	985	59,560	4,623	65,168
Disposals	-	(47,580)	-	(47,580)
At 31 March 2025	7,367	850,346	68,406	926,119
Depreciation
At 1 April 2024	5,797	526,695	51,610	584,102
Charge for the year	782	129,182	4,982	134,946
Eliminated on disposal	-	(24,352)	-	(24,352)
At 31 March 2025	6,579	631,525	56,592	694,696
Carrying amount
At 31 March 2025	788	218,821	11,814	231,423
At 31 March 2024	585	311,671	12,173	324,429

5

Stocks

	2025 £	2024 £
Other inventories	179,262	207,116

6

Debtors

Current	2025 £	2024 £
Trade debtors	258,180	224,986
Other debtors	25,469	10,555
	283,649	235,541

7

Creditors

Creditors: amounts falling due within one year

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	12,721	25,016
Trade creditors		117,041	116,005
Taxation and social security		28,656	46,599
		158,418	187,620

Dean Watkins Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	21,516	37,601

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	16,964	26,839
Hire purchase contracts	-	10,371
Other borrowings	4,552	391
	21,516	37,601

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	12,721	25,016

10

Dividends

		2025		2024
		£		£
Interim dividend of £20,000.00 (2024 - £41,000.00) per ordinary share		20,000		41,000