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REGISTERED NUMBER: 04825983 (England and Wales)













WATERS CREATIVE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATERS CREATIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R East
R Wheatley
M Leach





SECRETARY: M Wheatley





REGISTERED OFFICE: 6 Axis Court
Riverside Business Park
Swansea
SA7 0AJ





REGISTERED NUMBER: 04825983 (England and Wales)





ACCOUNTANTS: Carr, Jenkins & Hood
Oystermouth House Charter Court
Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS

WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 36,000
Tangible assets 5 240,585 234,191
270,585 270,191

CURRENT ASSETS
Debtors 6 99,102 97,169
Cash at bank and in hand 160,667 182,087
259,769 279,256
CREDITORS
Amounts falling due within one year 7 178,404 167,869
NET CURRENT ASSETS 81,365 111,387
TOTAL ASSETS LESS CURRENT LIABILITIES 351,950 381,578

CREDITORS
Amounts falling due after more than one
year

8

(182,699

)

(242,479

)

PROVISIONS FOR LIABILITIES (5,594 ) (4,101 )
NET ASSETS 163,657 134,998

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 59,990 59,990
Retained earnings 103,567 74,908
163,657 134,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

BALANCE SHEET - continued
31 JULY 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




R Wheatley - Director



R East - Director


WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Waters Creative 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 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 2018, is being amortised evenly over its estimated useful life of ten 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.
Short leasehold - not provided
Fixtures and fittings - 10% on cost
Computer equipment - 15% on reducing balance

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.

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.

WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

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 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 60,000
AMORTISATION
At 1 August 2022 24,000
Charge for year 6,000
At 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 30,000
At 31 July 2022 36,000

WATERS CREATIVE LIMITED (REGISTERED NUMBER: 04825983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 216,631 32,680 44,016 293,327
Additions - - 10,122 10,122
At 31 July 2023 216,631 32,680 54,138 303,449
DEPRECIATION
At 1 August 2022 - 25,857 33,279 59,136
Charge for year - 1,629 2,099 3,728
At 31 July 2023 - 27,486 35,378 62,864
NET BOOK VALUE
At 31 July 2023 216,631 5,194 18,760 240,585
At 31 July 2022 216,631 6,823 10,737 234,191

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 96,128 96,791
Other debtors 2,974 378
99,102 97,169

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,210 15,210
Trade creditors 67,601 57,837
Taxation and social security 57,683 54,333
Other creditors 47,910 40,489
178,404 167,869

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 114,742 129,803
Other creditors 67,957 112,676
182,699 242,479