R_A_Watts_Ltd_31_Mar_2022_companies_house_set_of_accounts.html
R_A_Watts_Ltd_31_Mar_2022_companies_house_set_of_accounts.html
Company registration number:
Chartered Certified Accountants
10 Spitfire Business Park, Hawker Rd, Croydon, CR0 4WD, United KingdomReport to the board of directors on the preparation of the unaudited statutory financial statements of R.A.Watts Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the abridged financial statements of R.A.Watts Limited for the year ended 31 March 2022 which comprise the income statement, statement of income and retained earnings, abridged statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.
This report is made solely to the Board of Directors of R.A.Watts Limited , as a body. My work has been undertaken solely to prepare for your approval the abridged financial statements of R.A.Watts Limited and state those matters that I have agreed to state to the Board of Directors of R.A.Watts Limited , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than R.A.Watts Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that R.A.Watts Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R.A.Watts Limited . You consider that R.A.Watts Limited is exempt from the statutory audit requirement for the year.
Chartered Certified Accountants
10 Spitfire Business ParkHawker RdCroydonCR0 4WDUnited Kingdom
Date:
16 August 2022
Abridged Statement of Financial Position
| 2022 | 2021 | |||
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| £ | £ | |||
| Current assets | ||||
| Debtors |
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| Investments |
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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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| Net current liabilities |
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| Total assets less current liabilities | (1,969 | ) | (1,092 | ) |
| Capital and reserves | ||||
| Called up share capital |
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| Profit and loss account |
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| Shareholders deficit |
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For the year ending 31 March 2022 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged 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 income statement has not been delivered.
These abridged financial statements were approved by the board of directors and authorised for issue on 16 August 2022 , and are signed on behalf of the board by:
| Director | Director |
Company registration number:
00525155
Notes to the Abridged Financial Statements
Year ended 31 March 2022
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Airport House, Suite 245 Purley Way , Croydon , Surrey , CR0 0XZ , United Kingdom.
2 Statement of compliance
These abridged financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The abridged financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4 Average number of employees
The average number of persons employed by the company during the year was 4 (2021: 5.00 ).