Watermans of Banbury Limited Company accounts

COMPANY REGISTRATION NUMBER: 04969296

Watermans of Banbury Limited

Unaudited Financial Statements

31 January 2026

Watermans of Banbury Limited

Financial Statements

Year ended 31 January 2026

Contents	Pages

Officers and professional advisers	1

Directors' report	2

Report to the directors on the preparation of the unaudited statutory accounts of Watermans of Banbury Limited	3

Statement of income and retained earnings	4

Statement of financial position	5 to 6

Notes to the financial statements	7 to 11

Watermans of Banbury Limited

Officers and Professional Advisers

The board of directors	Mr S Lewis
	Mrs V Lewis

Company secretary	Mrs V Lewis

Registered office	51 Parsons Street
	Banbury
	Oxon
	OX16 5NB

Accountants	TC Group

	3B Swallowfield Courtyard
	Wolverhampton Road
	Oldbury
	West Midlands
	B69 2JG

Watermans of Banbury Limited

Directors' Report

Year ended 31 January 2026

The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2026 .

Directors

The directors who served the company during the year were as follows:

Mr S Lewis
Mrs V Lewis

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 29 October 2026 and signed on behalf of the board by:

Mrs V Lewis

Company Secretary

Registered office:

51 Parsons Street

Banbury

Oxon

OX16 5NB

Watermans of Banbury Limited

Report to the Directors on the Preparation of the Unaudited Statutory Accounts of Watermans of Banbury Limited

Year ended 31 January 2026

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31st January 2026. We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view". You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited. The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

TC Group

3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG

29 October 2026

Watermans of Banbury Limited

Statement of Income and Retained Earnings

Year ended 31 January 2026

	2026	2025
Note	£	£
Turnover	783,603	532,822

Cost of sales	456,364	225,245
	---------	---------
Gross profit	327,239	307,577

Administrative expenses	183,150	180,370
	---------	---------
Operating profit	144,089	127,207

Interest receivable	345	45
Interest payable	–	2,799
	---------	---------
Profit before taxation	144,434	124,453

Taxation on ordinary activities	34,872	30,141
	---------	---------
Profit for the financial year and total comprehensive income	109,562	94,312
	---------	---------

Dividends paid and payable	( 90,000)	( 106,000)

Retained earnings at the start of the year	7,241	18,929
	--------	---------
Retained earnings at the end of the year	26,803	7,241
	--------	---------

All the activities of the company are from continuing operations.

Watermans of Banbury Limited

Statement of Financial Position

31 January 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		26,299	33,264

Current assets

Stocks		76,969	71,620
Debtors	6	4,305	5,091
Cash at bank and in hand		7,965	4,231
		--------	--------
		89,239	80,942

Creditors: amounts falling due within one year	7	82,285		99,016
		--------		--------
Net current assets/(liabilities)			6,954	( 18,074)
			--------	--------
Total assets less current liabilities			33,253	15,190

Provisions

Taxation including deferred tax	8	6,350	7,849
		--------	--------
Net assets		26,903	7,341
		--------	--------

Watermans of Banbury Limited

Statement of Financial Position (continued)

31 January 2026

	2026		2025
Note	£	£	£

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		26,803	7,241
		--------	-------
Shareholders funds		26,903	7,341
		--------	-------

These financial statements have been prepared 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'.

For the year 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 October 2026 , and are signed on behalf of the board by:

V Lewis S Lewis

Director Director

Company registration number: 04969296

Watermans of Banbury Limited

Notes to the Financial Statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51 Parsons Street, Banbury, Oxon, OX16 5NB.

2. Statement of compliance

These 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 properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under FRS 102: - No cash flow statement has been presented for the company. - Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. No significant estimates or judgements have been made in either the current or prior year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied , stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Fixtures and Fittings	-	20% reducing balance
Equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 6 (2025: 6 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 February 2025 and 31 January 2026	40,307	129,125	29,790	199,222
	--------	---------	--------	---------
Depreciation
At 1 February 2025	37,790	104,886	23,282	165,958
Charge for the year	631	4,848	1,486	6,965
	--------	---------	--------	---------
At 31 January 2026	38,421	109,734	24,768	172,923
	--------	---------	--------	---------
Carrying amount
At 31 January 2026	1,886	19,391	5,022	26,299
	--------	---------	--------	---------
At 31 January 2025	2,517	24,239	6,508	33,264
	--------	---------	--------	---------

6. Debtors

	2026	2025
	£	£
Trade debtors	76	–
Prepayments and accrued income	4,229	5,091
	-------	-------
	4,305	5,091
	-------	-------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	8,125	21,272
Trade creditors	21,766	19,729
Accruals and deferred income	2,575	2,572
Corporation tax	36,371	31,133
Social security and other taxes	8,653	12,738
Director loan accounts	4,594	11,394
Other creditors	201	178
	--------	--------
	82,285	99,016
	--------	--------

Bank loans are secured over the assets of the company.

8. Provisions

	Deferred tax (note 9)
	£
At 1 February 2025	7,849
Additions	( 1,499)
	-------
At 31 January 2026	6,350
	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in provisions (note 8)	6,350	7,849
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
	£	£
Accelerated capital allowances	6,350	7,867
Provisions	–	( 18)
	-------	-------
	6,350	7,849
	-------	-------

10. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

11. Commitments under operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2026	2025
	£	£
Not later than 1 year	15,000	15,000
Later than 1 year and not later than 5 years	2,417	17,417
	--------	--------
	17,417	32,417
	--------	--------

12. Directors' advances, credits and guarantees

During the year the directors received dividends of £90,000 (2025: £106,000). At the end of the year the directors were owed £4,594 (2025: £11,394) by the company.

13. Controlling party

The directors consider that no one indvidual controls the company.