General Information
Watson & Co. Limited is a private company, limited by shares, registered in England and Wales, registration number 08251334, registration address Unit 10 Falcon Business Park Marino Way, Hogwood Industrial Estate, Finchampstead, England, RG40 4QQ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
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 taxation
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
25% Reducing Balance
|
Stocks
Work in progress is valued at the lower of cost and net realisable value.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 4 (2025 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Computer Equipment |
|
Investment properties |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 February 2025 |
300,000 |
|
106,379 |
|
69,418 |
|
3,542 |
|
820,217 |
|
1,299,556 |
| Additions |
- |
|
- |
|
- |
|
2,398 |
|
- |
|
2,398 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| At 31 January 2026 |
300,000 |
|
106,379 |
|
69,418 |
|
5,940 |
|
820,217 |
|
1,301,954 |
| Depreciation |
| At 01 February 2025 |
- |
|
31,078 |
|
59,272 |
|
3,077 |
|
- |
|
93,427 |
| Charge for year |
- |
|
18,825 |
|
2,536 |
|
253 |
|
- |
|
21,614 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| At 31 January 2026 |
- |
|
49,903 |
|
61,808 |
|
3,330 |
|
- |
|
115,041 |
| Net book values |
| Closing balance as at 31 January 2026 |
300,000 |
|
56,476 |
|
7,610 |
|
2,610 |
|
820,217 |
|
1,186,913 |
| Opening balance as at 01 February 2025 |
300,000 |
|
75,301 |
|
10,146 |
|
465 |
|
820,217 |
|
1,206,129 |
|
| 4. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Debtors |
131,833 |
|
102,783 |
| Amount Owed by Group Undertakings |
3,614 |
|
- |
| Prepayments & Accrued Income |
1,724 |
|
1,197 |
| Amounts Recoverable on Contracts |
41,628 |
|
43,955 |
| Taxation recoverable |
1,696 |
|
1,696 |
|
180,495 |
|
149,631 |
|
| 5. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Creditors |
21,252 |
|
44,226 |
| Social Security and Other Taxes |
126,579 |
|
119,887 |
| Other Creditors |
5,005 |
|
3,008 |
| Directors' Current Accounts |
1,512 |
|
45,449 |
|
154,348 |
|
212,570 |
|
| 6. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
77,171 |
|
81,976 |
|
77,171 |
|
81,976 |
|
| 7. |
Revaluation Reserves
|
2026
£ |
|
2025
£ |
| Revaluation Reserve |
97,500 |
|
97,500 |
|
97,500 |
|
97,500 |
|
| 8. |
Related Party Disclosure
At the balance sheet date £3,614 (2025: £nil) was owed to the company by Nutbourne Holdings Limited. The balance is unsecured, interest free and repayable on demand.
|
| 9. |
Ultimate Controlling Party
The company's ultimate controlling party is Nutbourne Holdings Limited by virtue of its ownership of 100% of the issued share capital in the company.
|
4
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