J. Watson & Sons Limited - Accounts to registrar (filleted) - small 23.2.5
J. Watson & Sons Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2023 |
| for |
| J. Watson & Sons Limited |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| J. Watson & Sons Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Keepers Lane |
| The Wergs |
| Wolverhampton |
| West Midlands |
| WV6 8UA |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Balance Sheet |
| 30 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| 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. |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Balance Sheet - continued |
| 30 June 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | STATUTORY INFORMATION |
| J. Watson & Sons Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. |
| Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Inventories has been valued at the lower of cost and estimated selling price less costs to sell. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 July 2022 |
| and 30 June 2023 |
| AMORTISATION |
| At 1 July 2022 |
| Charge for year |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Expenditure |
| Freehold | on | Plant and |
| property | Property | machinery |
| £ | £ | £ |
| COST |
| At 1 July 2022 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 July 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 July 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| J. Watson & Sons Limited (Registered number: 06649142) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank overdrafts |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary Class A | £1 | 33 | 33 |
| Ordinary Class B | £1 | 33 | 33 |
| Ordinary Class C | £1 | 33 | 33 |
| 99 | 99 |