REGISTERED NUMBER: SC248198 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

A & J Watt Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A F Watt

Mrs J L Watt

SECRETARY:

Mrs J L Watt

REGISTERED OFFICE:

Woodside of Memsie

Memsie

Fraserburgh

Aberdeenshire

AB43 7AS

REGISTERED NUMBER:

SC248198 (Scotland)

ACCOUNTANTS:

SBP

Accountants

2 Cross Street

Fraserburgh

Aberdeenshire

AB43 9EQ

FIXED ASSETS

Intangible assets

4

25,500

29,750

Tangible assets

5

116,491

122,596

141,991

152,346

CURRENT ASSETS

Stocks

12,154

18,512

Debtors

6

6,509

13,536

Cash at bank and in hand

6,517

11,987

25,180

44,035

CREDITORS

Amounts falling due within one year

7

22,884

38,234

NET CURRENT ASSETS

2,296

5,801

TOTAL ASSETS LESS CURRENT LIABILITIES

144,287

158,147

CREDITORS

Amounts falling due after more than one year

8

-

(2,036

)

PROVISIONS FOR LIABILITIES

(3,668

)

(4,745

)

NET ASSETS

140,619

151,366

CAPITAL AND RESERVES

Called up share capital

182,950

182,950

Retained earnings

(42,331

)

(31,584

)

SHAREHOLDERS' FUNDS

140,619

151,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 December 2018 and were signed on its behalf by:

Mrs J L Watt - Director

1.	STATUTORY INFORMATION

A & J Watt Ltd. is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, 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.

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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 4 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

85,000

AMORTISATION

At 1 April 2017

55,250

Charge for year

4,250

At 31 March 2018

59,500

NET BOOK VALUE

At 31 March 2018

25,500

At 31 March 2017

29,750

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2017

97,185

13,942

6,074

Additions

-

329

-

At 31 March 2018

97,185

14,271

6,074

DEPRECIATION

At 1 April 2017

-

10,522

5,385

Charge for year

-

937

172

At 31 March 2018

-

11,459

5,557

NET BOOK VALUE

At 31 March 2018

97,185

2,812

517

At 31 March 2017

97,185

3,420

689

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2017

41,880

5,268

164,349

Additions

-

-

329

At 31 March 2018

41,880

5,268

164,678

DEPRECIATION

At 1 April 2017

20,903

4,943

41,753

Charge for year

5,244

81

6,434

At 31 March 2018

26,147

5,024

48,187

NET BOOK VALUE

At 31 March 2018

15,733

244

116,491

At 31 March 2017

20,977

325

122,596

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

331

13,536

Amounts recoverable on contract

6,178

-

6,509

13,536

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

2,425

8,146

Trade creditors

12,863

16,852

Taxation and social security

5,678

11,467

Other creditors

1,918

1,769

22,884

38,234

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

-

2,036