| Registered Number:00613498 |
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2018
Cecil E. Watts Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Cecil E. Watts Limited
Statement of Financial Position
2017
2018
| Property, plant and equipment |
3,249,531
3,235,687
2
3,249,531
3,235,687
| Trade and other receivables |
40,749
16,020
3
220,181
| Cash and cash equivalents |
231,182
247,202
260,930
| Trade and other payables: amounts falling due within one |
| year |
(82,606)
(162,203)
4
178,324
84,999
Net current assets
| Total assets less current liabilities |
3,334,530
3,414,011
| Trade and other payables: amounts falling due after more |
| than one year |
(68,283)
(68,010)
5
(4,809)
(1,757)
| Provisions for liabilities |
3,261,711
Net assets
3,343,971
47,600
47,600
1,193,249
1,193,249
6
2,020,862
2,103,122
3,261,711
3,343,971
Shareholders' funds
| For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| 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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2018
Cecil E. Watts Limited
Statement of Financial Position Continued
| Mr Douglas Luxford-Watts Director |
| These financial statements were approved and authorised for issue by the Board on 28 September 2018 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 March 2018
Cecil E. Watts Limited
Notes to the Financial Statements
Statutory Information
| Cecil E. Watts Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 00613498. |
Darby House
Lower Hampton Road
Sunbury On Thames
Middlesex
TW16 5PJ
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
| modified by the revaluation of certain assets. |
Changes in accounting policies
| In previous years Fixtures and Fittings fixed assets were depreciated at a rate of 15% on cost. From 2017 onwards fixture and fittings were written off on the basis of 33% on a straightline basis which reflects the expected useful lives of the assets more appropriately. |
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Provision is made for the potential charge to tax that would arise should the company dispose of its fixed assets at the stated net book value to the extent that this is in excess of the tax written down value. |
Cashflow
| The financial statements do not include a cash flow statement because the company, as a small reporting entity, is |
| exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller |
| Entities (effective January 2015). |
Turnover
| Turnover comprises rent recognised by the company in respect of services supplied during the year, exclusive of |
| Value Added Tax. |
Tangible fixed assets and depreciation
| Tangible fixed assets are stated at cost or valuation less deprecation. Depreciation is provided at rates calculated to |
| write of the cost or valuation off fixed assets, less their estimated residual value, over their expected useful lives on |
| the following bases: |
| Long leasehold property - Over the term of the lease (112 years) |
| Plant and Machinery - 33% on cost |
| Motor vehicles - 20% on cost |
| Fixtures and fittings - 33% on cost |
| Computer (office) equipment - 33% on cost |
| Revaluation of tangible fixed assets: |
| As permitted by the transitional provisions of the Financial Reporting Standards for Smaller Entities the company |
| elected not to adopt a policy of revalution of tangible fixed assets. The company has retained the book value of land |
| and buildings as of 5th October 1998 and will not update that valuation. |
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For the year ended 31 March 2018
Cecil E. Watts Limited
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
3,337,999
2,592
85,335
16,000
2,461
3,231,611
33,591
2,210
2,161
26,990
2,230
-
-
-
(16,000)
-
-
(16,000)
3,231,611
26,990
87,496
4,802
3,355,590
4,691
| Provision for depreciation and impairment |
102,312
841
84,697
859
772
15,143
Charge for year
272
1,115
693
(3,654)
1,362
756
3,475
-
-
3,475
-
-
106,059
1,956
85,390
680
2,134
15,899
3,215,712
2,557
26,310
2,106
2,846
3,249,531
3,216,468
1,689
15,141
638
1,751
3,235,687
| Revaluation of tangible fixed assets |
| As permitted by the transitional provisions of the Financial Reporting Standards for Smaller Entities the company |
| elected not to adopt a policy of revalution of tangible fixed assets. The company has retained the book value of land |
| and buildings as of 5th October 1998 and will not update that valuation. |
| 3. Trade and other receivables |
2017
2018
15,770
36,624
250
4,125
40,749
16,020
| 4. Trade and other payables: amounts falling due within one year |
2017
2018
-
(2)
| Taxation and social security |
120,884
15,642
41,319
66,966
162,203
82,606
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For the year ended 31 March 2018
Cecil E. Watts Limited
Notes to the Financial Statements Continued
| 5. Trade and other payables: amounts falling due after more than one year |
2017
2018
68,010
68,283
| Revaluation reserve at 01 April 2017 |
1,193,249
1,193,249
| Revaluation reserve at 31 March 2018 |
| 7. Average number of persons employed |
During the year the average number of employees was 3 (2017 : 3)
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