Registered number
05349284
Watershine Limited
Filleted Accounts
28 February 2023
Watershine Limited
Registered number: 05349284
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 2,027 2,027
Current assets
Debtors 4 1,000 1,000
Investments held as current assets 5 942,371 899,108
943,371 900,108
Creditors: amounts falling due within one year 6 (2,630) (2,509)
Net current assets 940,741 897,599
Net assets 942,768 899,626
Capital and reserves
Called up share capital 1,000 1,000
Shareholder contribution 730,898 730,898
Profit and loss account 210,870 167,728
Shareholder's funds 942,768 899,626
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Cecilia Bravo Garcia
Director
Approved by the board on 23 November 2023
Watershine Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and Directors 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2022 Pacegrel S.L. €3,000 2,027
At 28 February 2023 Pacegrel S.L. €3,000 2,027
4 Debtors 2023 2022
£ £
Other debtors 1,000 1,000
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments Pacegrel S.L. €1,075,000 interest free 942,371 899,108
6 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors €3,000 2,630 2,509
7 Other information
Watershine Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Leyden Street
London
E1 7LE
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