Company No: 01248110 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	24,597		32,796
		24,597		32,796
Current assets
Stocks	4	3,926,151		3,902,576
Debtors	5	2,501,038		2,348,884
Cash at bank and in hand	6	13,377		13,754
		6,440,566		6,265,214
Creditors: amounts falling due within one year	7	( 3,556,028)		( 3,295,520)
Net current assets		2,884,538		2,969,694
Total assets less current liabilities		2,909,135		3,002,490
Creditors: amounts falling due after more than one year	8	( 3,020,000)		( 3,020,000)
Net liabilities		( 110,865)		( 17,510)
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		( 110,965 )		( 17,610 )
Total shareholder's deficit		( 110,865)		( 17,510)

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

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Watchcourt Ltd (registered number: 01248110) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Neil Joseph Gourgey Director

20 May 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Watchcourt Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 48 Rochester Row, London, SW1P 1JU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and direct labour. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 September 2024	93,367		93,367
At 31 August 2025	93,367		93,367
Accumulated depreciation
At 01 September 2024	60,571		60,571
Charge for the financial year	8,199		8,199
At 31 August 2025	68,770		68,770
Net book value
At 31 August 2025	24,597		24,597
At 31 August 2024	32,796		32,796

4. Stocks

	2025		2024
	£		£
Stocks	3,926,151		3,902,576

5. Debtors

	2025		2024
	£		£
Other debtors	2,501,038		2,348,884

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	13,377		13,754

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other taxation and social security	1,127		1,144
Other creditors	3,554,901		3,294,376
	3,556,028		3,295,520

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	3,020,000		3,020,000

The above loan is guaranteed by the directors.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Related party transactions

Included in other debtors are £2,072,502 (2024: £2,140,538) due from companies in which the directors have an interest.

Included in other creditors are £3,529,373 (2024: £3,494,017) due to companies in which the directors have an interest.