Paul Watters Contractor Limited - Period Ending 2023-03-31
Paul Watters Contractor Limited - Period Ending 2023-03-31
Registration number:
Paul Watters Contractor Limited
for the Year Ended 31 March 2023
Paul Watters Contractor Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Paul Watters Contractor Limited
Company Information
Director |
Mr D P Watters |
Company secretary |
Mrs P T Watters |
Registered office |
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Accountants |
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Paul Watters Contractor Limited
(Registration number: 04259602)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
20,902 |
41,510 |
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Shareholders' funds |
20,903 |
41,511 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Paul Watters Contractor Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Government grants
Government grants of a revenue nature are recognised when there is a reasonable assurance that conditions attaching to them have been met and the grants will be received. The accruals model has been adopted for recognition.
tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
3 years straight line |
Leasehold property |
10 years straight line |
Paul Watters Contractor Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Work in Progress and long term contracts
Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Land and buildings |
Computer equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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- |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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- |
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At 31 March 2022 |
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- |
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Included within the net book value of land and buildings above is £4,120 (2022 - £4,944) in respect of short leasehold land and buildings.
Stock and Work in Progress |
2023 |
2022 |
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Work in Progress |
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Paul Watters Contractor Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
- |
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Amounts owed by connected parties |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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