REGISTERED NUMBER: 09491852 (England and Wales)

Financial Statements

for the Year Ended 31 March 2026

for

HG Watches Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Bensoor

E D Taylor

REGISTERED OFFICE:

c/o Parker Cavendish, Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

09491852 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Tangible assets

4

50,868

60,428

Investments

5

36,000

36,000

86,868

96,428

CURRENT ASSETS

Stocks

297,500

202,000

Debtors

6

146,457

149,419

Cash at bank and in hand

38,943

72,865

482,900

424,284

CREDITORS

Amounts falling due within one year

7

(175,637

)

(152,764

)

NET CURRENT ASSETS

307,263

271,520

TOTAL ASSETS LESS CURRENT LIABILITIES

394,131

367,948

CREDITORS

Amounts falling due after more than one year

8

(38,601

)

(52,812

)

NET ASSETS

355,530

315,136

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

355,430

315,036

SHAREHOLDERS' FUNDS

355,530

315,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2026 and were signed on its behalf by:

S Bensoor - Director

1.	STATUTORY INFORMATION

HG Watches Ltd is a private company, limited by shares , registered in England and Wales. 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.

Income is recognised when the service is provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

15% reducing balance

Motor vehicles

15% reducing balance

Land and buildings

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

4,500

123,190

127,690

DEPRECIATION

At 1 April 2025

1,800

65,462

67,262

Charge for year

900

8,660

9,560

At 31 March 2026

2,700

74,122

76,822

NET BOOK VALUE

At 31 March 2026

1,800

49,068

50,868

At 31 March 2025

2,700

57,728

60,428

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2025

and 31 March 2026

36,000

NET BOOK VALUE

At 31 March 2026

36,000

At 31 March 2025

36,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

38,991

71,953

Other debtors

107,466

77,466

146,457

149,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,978

10,000

Hire purchase contracts

12,200

12,200

Trade creditors

48,754

18,910

Taxation and social security

18,367

15,624

Other creditors

94,338

96,030

175,637

152,764

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

2,435

Hire purchase contracts

38,601

50,377

38,601

52,812

9.	RELATED PARTY DISCLOSURES

Included within other debtors at the year end is an amount of £67,466 (2025: £77,466) due from HGW Enterprise Ltd, a company in which the shareholders have an interest in. This balance has been provided unsecured, interest free and is repayable on demand.

Also included within other debtors at the year end is an amount of £40,000 (2025: £nil) due from TGT Jewellers Ltd, a company in which a shareholder has an interest in. This balance has been provided unsecured, interest free and is repayable on demand.

Included within other creditors at the year end is an aggregate amount of £90,738 (2025: £86,468) due to the directors S Bensoor and E D Taylor. This amount has been provided unsecured, interest free and is repayable on demand.