REGISTERED NUMBER: SC285080 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 September 2026

for

William Watson & Co Accountants Ltd

Page

Company Information

1

Report of the Director

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

W Watson

REGISTERED OFFICE:

51 Lynnhurst

Uddingston

GLASGOW

Lanarkshire

G71 6SA

REGISTERED NUMBER:

SC285080 (Scotland)

ACCOUNTANTS:

William Watson & Company Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

The director presents his report with the financial statements of the company for the year ended 30 September 2026.

REVIEW OF BUSINESS

The price of gold again has increased to $4,155 (£3,136) 7.5% in the year. Speculators or investors seem to be happy to move away from the increasing bond market and stock exchanges to harbour their capital. Financial apps akin to gambling on the stock exchange supply a dopamine fix to many users. I am not convinced that many users are checking the accounts of their purchases in these apps with the debt equity positions on a quarterly basis.

The rate of inflation is 3.1%. The Bank of England still has the target of 2% and is using the bond market in an effort to reduce inflation. The Bank of England is looking at a consumer price index (CPI) stabilization index to review symmetric shocks which account for many increases in the overall inflation rate. The option to break the triple lock could make some savings on our balance of payments however it would appear to be cutting the grass when the house is on fire. GDP continues at a stubborn rate of growth at .04%. The US economy is currently at 1.5%. The UK business community awaits to see what the prime minister will do to assist small businesses grow and continue to fund the development of the economy.

HMRC report that payrolled employees in the UK fell by 145,000. Small businesses are hesitant to engage staff with their new rights on day one. We see clients struggling with these overheads. Automation is the key to spotting issues in real time.

Whilst we have some scope to take on more clients, I am resisting this until we see the completion of the second quarter Making Tax Digital (MTD) regime. The responsibility of service quality overrides profit and we have reserves in place to train staff and clients where and when suits them.

The movement in net current liabilities amounts to £967. No external funding has been drawn down in the year. All statutory debts are met as they fall due and the director continues to defer the repayment of his loan at a level to fund and support the business.

DIRECTOR

W Watson held office during the whole of the period from 1 October 2025 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year the company continued to make donations to Christians Against Poverty. This charity provides practical help in providing anyone with a route out of debt.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

W Watson - Director

8 October 2026

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

34,584

45,762

34,584

45,762

CURRENT ASSETS

Debtors

6

8,448

3,149

Cash at bank

11,398

-

19,846

3,149

CREDITORS

Amounts falling due within one year

7

44,676

27,012

NET CURRENT LIABILITIES

(24,830

)

(23,863

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,754

21,899

CREDITORS

Amounts falling due after more than one year

8

92,767

111,208

NET LIABILITIES

(83,013

)

(89,309

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(83,113

)

(89,409

)

SHAREHOLDERS' FUNDS

(83,013

)

(89,309

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8 October 2026 and were signed by:

W Watson - Director

1.	STATUTORY INFORMATION

William Watson & Co Accountants Ltd is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

33% on cost and 25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2025

305,100

Disposals

(305,100

)

At 30 September 2026

-

AMORTISATION

At 1 October 2025

305,100

Eliminated on disposal

(305,100

)

At 30 September 2026

-

NET BOOK VALUE

At 30 September 2026

-

At 30 September 2025

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2025

and 30 September 2026

79,652

DEPRECIATION

At 1 October 2025

33,890

Charge for year

11,178

At 30 September 2026

45,068

NET BOOK VALUE

At 30 September 2026

34,584

At 30 September 2025

45,762

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.26

30.9.25

£

£

Trade debtors

8,387

3,088

Other debtors

61

61

8,448

3,149

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.26

30.9.25

£

£

Bank loans and overdrafts

740

5,522

Hire purchase contracts

3,533

7,332

Payments on account

10,313

-

Trade creditors

6,982

-

Tax

4,243

-

Social security and other taxes

11,254

10,406

VAT

6,084

3,203

Accrued expenses

1,527

549

44,676

27,012

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.26

30.9.25

£

£

Director's Loan account

92,767

108,074

Hire purchase contracts

-

3,134

92,767

111,208

9.	PROVISIONS FOR LIABILITIES

Deferred

tax

£

Balance at 1 October 2025

(61

)

Utilised during year

(541

)

Unused amounts reversed during year

541

Balance at 30 September 2026

(61

)