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

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


IRIS Accounts Production v21.4.0.171 05356988 director 1.4.20 31.3.21 31.3.21 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure053569882020-03-31053569882021-03-31053569882020-04-012021-03-31053569882019-03-31053569882019-04-012020-03-31053569882020-03-3105356988ns16:EnglandWales2020-04-012021-03-3105356988ns15:PoundSterling2020-04-012021-03-3105356988ns11:Director12020-04-012021-03-3105356988ns11:PrivateLimitedCompanyLtd2020-04-012021-03-3105356988ns11:SmallEntities2020-04-012021-03-3105356988ns11:AuditExempt-NoAccountantsReport2020-04-012021-03-3105356988ns11:SmallCompaniesRegimeForDirectorsReport2020-04-012021-03-3105356988ns11:SmallCompaniesRegimeForAccounts2020-04-012021-03-3105356988ns11:AbridgedAccounts2020-04-012021-03-310535698812020-04-012021-03-3105356988ns11:OrdinaryShareClass12020-04-012021-03-3105356988ns11:CompanySecretary12020-04-012021-03-3105356988ns11:RegisteredOffice2020-04-012021-03-3105356988ns6:CurrentFinancialInstruments2021-03-3105356988ns6:CurrentFinancialInstruments2020-03-3105356988ns6:ShareCapital2021-03-3105356988ns6:ShareCapital2020-03-3105356988ns6:RetainedEarningsAccumulatedLosses2021-03-3105356988ns6:RetainedEarningsAccumulatedLosses2020-03-3105356988ns6:NetGoodwill2020-04-012021-03-3105356988ns6:IntangibleAssetsOtherThanGoodwill2020-04-012021-03-3105356988ns6:FurnitureFittings2020-04-012021-03-3105356988ns11:OrdinaryShareClass12021-03-3105356988ns6:RetainedEarningsAccumulatedLosses2020-03-3105356988ns6:RetainedEarningsAccumulatedLosses2020-04-012021-03-31
REGISTERED NUMBER: 05356988 (England and Wales)















Financial Statements for the Year Ended 31 March 2021

for

Sara Watts Limited
Trading as
Edward Watts Opticians

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Sara Watts Limited
Trading as Edward Watts Opticians

Company Information
for the Year Ended 31 March 2021







DIRECTOR: Mrs S D Porter





SECRETARY: Streatham Secretarial Limited





REGISTERED OFFICE: Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY





REGISTERED NUMBER: 05356988 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Abridged Balance Sheet
31 March 2021

31/3/21 31/3/20
Notes £ £
FIXED ASSETS
Intangible assets 4 64,800 79,200
Tangible assets 5 41,335 51,154
106,135 130,354

CURRENT ASSETS
Stocks 21,300 28,000
Debtors 25,281 16,647
Cash at bank and in hand 19,278 37,562
65,859 82,209
CREDITORS
Amounts falling due within one year (78,109 ) (114,060 )
NET CURRENT LIABILITIES (12,250 ) (31,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,885

98,503

PROVISIONS FOR LIABILITIES (6,381 ) (6,381 )
NET ASSETS 87,504 92,122

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 87,404 92,022
SHAREHOLDERS' FUNDS 87,504 92,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Abridged Balance Sheet - continued
31 March 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 28 June 2021 and were signed by:





Mrs S D Porter - Director


Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Sara Watts 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipt - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1 April 2020
and 31 March 2021 288,000
AMORTISATION
At 1 April 2020 208,800
Amortisation for year 14,400
At 31 March 2021 223,200
NET BOOK VALUE

At 31 March 2021 64,800
At 31 March 2020 79,200

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

5. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 April 2020
and 31 March 2021 137,263
DEPRECIATION
At 1 April 2020 86,109
Charge for year 9,819
At 31 March 2021 95,928
NET BOOK VALUE
At 31 March 2021 41,335
At 31 March 2020 51,154

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/21 31/3/20
value: £ £
100 Ordinary £1 100 100

7. RESERVES
Retained
earnings
£

At 1 April 2020 92,022
Profit for the year 19,850
Dividends (24,468 )
At 31 March 2021 87,404

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S D Porter.