Watches UK No1 Limited - Filleted accounts

Registered number

14306150

Watches UK No1 Limited

Filleted Accounts

31 March 2025

Watches UK No1 Limited
Registered number:		14306150
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		195			-

Current assets
Stocks		20,932			20,932
Cash at bank and in hand		598			2,235
		21,530			23,167

Creditors: amounts falling due within one year	4	(24,015)			(29,736)

Net current liabilities			(2,485)			(6,569)

Net liabilities			(2,290)			(6,569)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(2,390)			(6,669)

Shareholder's funds			(2,290)			(6,569)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr A J Smith
Director
Approved by the board on 15 December 2025

Watches UK No1 Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Turnover
	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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		1


3	Tangible fixed assets
								Plant and machinery etc
£
	Cost
	Additions							230
	At 31 March 2025							230

	Depreciation
	Charge for the year							35
	At 31 March 2025							35

	Net book value
	At 31 March 2025							195


4	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					11,250		11,250
	Taxation and social security costs					318		2,793
	Other creditors					12,447		15,693
						24,015		29,736


5	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr A J Smith
	Director's loan account	(12,733)		25,181		(22,660)		(10,212)

		(12,733)		25,181		(22,660)		(10,212)


6	Controlling party

	The Company is ultimately controlled by its director by virtue of their shareholding.


7	Other information

	Watches UK No1 Limited is a private company limited by shares and incorporated in England. Its registered office is:
	40 Brigantine Grove
	Newport
	Wales
	NP10 8ET