Watson & Sole Associates Limited - Accounts to registrar (filleted) - small 18.2
Watson & Sole Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2020 |
| for |
| Watson & Sole Associates Limited |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Watson & Sole Associates Limited |
| Company Information |
| for the Year Ended 31 July 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Gemini Court |
| 42a Throwley Way |
| Sutton |
| Surrey |
| SM1 4AF |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Statement of Financial Position |
| 31 July 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Statement of Financial Position - continued |
| 31 July 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2020 |
| 1. | STATUTORY INFORMATION |
| Watson & Sole Associates Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. |
| Property, plant and equipment |
| Office Equipment | - |
| Computer equipment | - |
| 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. |
| 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 defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate. |
| The company has an automatic enrolment workplace pension in which two of the directors and relevant staff are enrolled. The contributions for each individual are held separately with The People's Pension scheme no. 139980. |
| One of the director's pension schemes is The Executive Pension Plan Scheme no. 2916960 (Zurich). The assets of the scheme are held separately in an independently administered fund. |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Office | Computer |
| Equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 July 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 July 2020 |
| NET BOOK VALUE |
| At 31 July 2020 |
| At 31 July 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 35,847 | 51,752 |
| Credit Card | (474 | ) | 1,922 |
| Accrued expenses |
| Watson & Sole Associates Limited (Registered number: 01024026) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2020 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 500 | 500 |
| 8. | RELATED PARTY DISCLOSURES |
| The company paid rent during the year of £30,502 (2019 - £ 24,000) to Colston Trustees Limited, of which two of the directors are members. The rent was paid on normal commercial terms and the amount outstanding at the balance sheet date was £6,502 (2019 -nil). |