2022-10-012023-09-302023-09-30false12184529WATAGIFT 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WATAGIFT LTD

Registered Number
12184529
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

WATAGIFT LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Mr Fernando Sanchez Cezon
Mr Pedro Navio Matut

Registered Address

St Georges Gate 43 Norwich Avenue West
Flat 2
Bournemouth
BH2 6AP

Registered Number

12184529 (England and Wales)
WATAGIFT LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3-236
-236
Current assets
Stocks41,4354,402
Debtors4,8193,525
Cash at bank and on hand8,58610,335
14,84018,262
Creditors amounts falling due within one year5(21,591)(33,227)
Net current assets (liabilities)(6,751)(14,965)
Total assets less current liabilities(6,751)(14,729)
Creditors amounts falling due after one year6(17,390)(17,500)
Net assets(24,141)(32,229)
Capital and reserves
Profit and loss account(24,141)(32,229)
Shareholders' funds(24,141)(32,229)
The financial statements were approved and authorised for issue by the Board of Directors on 6 February 2024, and are signed on its behalf by:
Mr Fernando Sanchez Cezon
Director
Mr Pedro Navio Matut
Director

Registered Company No. 12184529
WATAGIFT LTD
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 221,1181,118
Disposals(1,118)(1,118)
Depreciation and impairment
At 01 October 22882882
On disposals(882)(882)
Net book value
At 30 September 23--
At 30 September 22236236
4.Stocks

2023

2022

££
Finished goods1,4354,402
Total1,4354,402
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables32632
Bank borrowings and overdrafts20,97830,977
Taxation and social security4951,617
Other creditors861
Total21,59133,227
6.Creditors: amounts due after one year

2023

2022

££
Trade creditors / trade payables17,39017,500
Total17,39017,500