Company registration number 05340391 (England and Wales)
WATERLOO GATSBY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 1 FEBRUARY 2022
PAGES FOR FILING WITH REGISTRAR
WATERLOO GATSBY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WATERLOO GATSBY LIMITED
BALANCE SHEET
AS AT
1 FEBRUARY 2022
01 February 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
646,902
Current assets
Stocks
-
25,720
Debtors
4
14,340
9,207
Cash at bank and in hand
287,685
35,448
302,025
70,375
Creditors: amounts falling due within one year
5
(38,325)
(55,841)
Net current assets
263,700
14,534
Total assets less current liabilities
263,700
661,436
Creditors: amounts falling due after more than one year
6
(525,464)
(852,336)
Net liabilities
(261,764)
(190,900)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(261,864)
(191,000)
Total equity
(261,764)
(190,900)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 1 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 October 2023 and are signed on its behalf by:
Mr C R Evans
Director
Company Registration No. 05340391
WATERLOO GATSBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 1 FEBRUARY 2022
- 2 -
1
Accounting policies
Company information
Waterloo Gatsby Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The reporting period is longer than one year and therefore the comparative amounts presented in these financial statements are not entirely comparable. The reporting period changed for commercial reasons.
1.3
Turnover
Turnover represents amounts receivable for goods and services provided in the normal cause of business, net of trade discounts, VAT and other sales-related taxes.
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods and services provided.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
50 years straight line
Plant and machinery
20% on reducing balance
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
WATERLOO GATSBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 FEBRUARY 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
2021
Number
Number
Total
6
6
WATERLOO GATSBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 FEBRUARY 2022
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2021
642,500
92,729
735,229
Disposals
(642,500)
(92,729)
(735,229)
At 1 February 2022
Depreciation and impairment
At 1 February 2021
88,327
88,327
Depreciation charged in the period
7,496
513
8,009
Eliminated in respect of disposals
(7,496)
(88,840)
(96,336)
At 1 February 2022
Carrying amount
At 1 February 2022
At 31 January 2021
642,500
4,402
646,902
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
684
Other debtors
14,340
8,523
14,340
9,207
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
8,165
Trade creditors
3,344
14,854
Taxation and social security
1,359
Other creditors
33,622
32,822
38,325
55,841
WATERLOO GATSBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 1 FEBRUARY 2022
- 5 -
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
340,573
Other creditors
525,464
511,763
525,464
852,336
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
-
301,318
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100