COMPANY REGISTRATION NUMBER:
SC833629
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Watson Scott Properties Limited |
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Filleted Unaudited Abridged Financial Statements |
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Watson Scott Properties Limited |
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Abridged Financial Statements |
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Period from 9 January 2025 to 31 January 2026
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Abridged statement of financial position |
1 |
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Notes to the abridged financial statements |
3 |
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Watson Scott Properties Limited |
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Abridged Statement of Financial Position (continued) |
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31 January 2026
Capital and reserves
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Called up share capital |
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104 |
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Profit and loss account |
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(
21,518) |
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-------- |
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Shareholders deficit |
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(
21,414) |
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-------- |
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 January 2026 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 August 2026
, and are signed on behalf of the board by:
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Mr K Watson |
Ms Scott-Emuakpor |
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Director |
Director |
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Company registration number:
SC833629
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Watson Scott Properties Limited |
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Notes to the Abridged Financial Statements |
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Period from 9 January 2025 to 31 January 2026
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 3 Petrol Way, Dunfermline, Fife, KY11 8GY.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properrties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the company's ability to continue. The directors have taken steps to ensure there are sufficient funds to meet the company's working capital requirement for the foreseeable future, and still consider the going concern approach to be appropriate
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses
Impairment of fixed assets
The directors have considered the valuation in line with market rates of similar properties at the end of each reporting period.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to nil.
5.
Tangible assets
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£ |
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Cost |
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At 9 January 2025 |
– |
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Additions |
154,448 |
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--------- |
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At 31 January 2026 |
154,448 |
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--------- |
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Depreciation |
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At 9 January 2025 and 31 January 2026 |
– |
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--------- |
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Carrying amount |
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At 31 January 2026 |
154,448 |
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--------- |
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6.
Charges on assets
Creditors include bank loans, overdrafts and net obligations under hire purchase contracts which are secured of £106,499.