REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 January 2022 |
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for |
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Watchtower Finance Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 January 2022 |
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for |
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Watchtower Finance Limited |
Watchtower Finance Limited (Registered number: 01068030) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2022 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Watchtower Finance Limited |
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Company Information |
for the Year Ended 31 January 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
28 Church Road |
Stanmore |
Middlesex |
HA7 4XR |
Watchtower Finance Limited (Registered number: 01068030) |
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Statement of Financial Position |
31 January 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Watchtower Finance Limited (Registered number: 01068030) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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Watchtower Finance Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Income is recognised when the service is provided. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Watchtower Finance Limited (Registered number: 01068030) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 February 2021 |
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Additions |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 February 2021 |
and 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
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Watchtower Finance Limited (Registered number: 01068030) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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9. | RELATED PARTY DISCLOSURES |
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Included within other debtors due within one year are amounts due from Broad Oak Finance Limited, Fortmill Finance Limited, Hartmead Finance Limited and Keycroft Finance Limited of £22,721 (2021: £nil), £13,520 (2021: £nil), £9,522 (2021: £nil) and £13,313 (2021: £nil) respectively. These amounts have been provided unsecured, interest free and are repayable on demand. |