Watts Interiors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10493076 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2018

for

Watts Interiors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Watts

REGISTERED OFFICE:

30 High Street

Leighton Buzzard

Bedfordshire

LU7 1EA

REGISTERED NUMBER:

10493076 (England and Wales)

ACCOUNTANTS:

R A & D A Thompson

30 High Street

Leighton Buzzard

Bedfordshire

LU7 1EA

FIXED ASSETS

Tangible assets

3

1,500

14,493

CURRENT ASSETS

Debtors

4

7,395

4,233

Cash at bank

20,566

24,678

27,961

28,911

CREDITORS

Amounts falling due within one year

5

21,887

21,252

NET CURRENT ASSETS

6,074

7,659

TOTAL ASSETS LESS CURRENT LIABILITIES

7,574

22,152

PROVISIONS FOR LIABILITIES

285

2,754

NET ASSETS

7,289

19,398

RESERVES

Retained earnings

7,289

19,398

SHAREHOLDERS' FUNDS

7,289

19,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 2 May 2019 and were signed by:

S Watts - Director

1.	STATUTORY INFORMATION

Watts Interiors Limited 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.

Tangible fixed assets

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

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 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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

19,324

Additions

2,000

Disposals

(19,324

)

At 30 November 2018

2,000

DEPRECIATION

At 1 December 2017

4,831

Charge for year

500

Eliminated on disposal

(4,831

)

At 30 November 2018

500

NET BOOK VALUE

At 30 November 2018

1,500

At 30 November 2017

14,493

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

5,995

-

Other debtors

1,400

4,233

7,395

4,233

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Hire purchase contracts

14,666

18,492

Trade creditors

1

1

Taxation and social security

(5,449

)

(9,186

)

Other creditors

12,669

11,945

21,887

21,252

6.	RELATED PARTY DISCLOSURES

Dividends are paid to the shareholder who is also a director of the business