Watson Electrical Contractors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05243930 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

WATSON ELECTRICAL CONTRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Watson

Mrs N Watson

SECRETARY:

Mrs N Watson

REGISTERED OFFICE:

Lothing House

7 Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

REGISTERED NUMBER:

05243930 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Tangible assets

4

31,523

11,118

CURRENT ASSETS

Stocks

5

1,400

Debtors

6

37,880

31,620

Cash at bank

93,135

87,833

132,415

120,853

CREDITORS

Amounts falling due within one year

7

(44,383

)

(38,142

)

NET CURRENT ASSETS

88,032

82,711

TOTAL ASSETS LESS CURRENT
LIABILITIES

119,555

93,829

PROVISIONS FOR LIABILITIES

(6,956

)

(2,100

)

NET ASSETS

112,599

91,729

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

112,499

91,629

SHAREHOLDERS' FUNDS

112,599

91,729

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 15 December 2025 and were signed on its behalf by:

S Watson - Director

1.	STATUTORY INFORMATION

Watson Electrical Contractors Limited 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.

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

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

4,665

417

49,171

3,333

57,586

Additions

715

-

22,250

-

22,965

At 31 March 2025

5,380

417

71,421

3,333

80,551

DEPRECIATION

At 1 April 2024

3,307

401

39,767

2,993

46,468

Charge for year

221

2

2,252

85

2,560

At 31 March 2025

3,528

403

42,019

3,078

49,028

NET BOOK VALUE

At 31 March 2025

1,852

14

29,402

255

31,523

At 31 March 2024

1,358

16

9,404

340

11,118

5.

STOCKS

31.3.25

31.3.24

£

Stocks

1,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

34,893

29,047

Prepayments

2,987

2,573

37,880

31,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

4,593

5,399

Tax

18,854

13,521

Social security and other taxes

2,792

1,774

VAT

8,453

9,031

Other creditors

1,349

1,260

Directors' current accounts

8,342

7,157

44,383

38,142

8.	ULTIMATE CONTROLLING PARTY

The controlling party is S Watson.

The ultimate controlling party is S Watson.

The company was under the control of Mr S Watson and Mrs N Watson as holders of the share capital throughout the current and previous year.

The company operates a Loan account with the Directors and the balance as at 31 March 2025 was £8,342.