Registered number
09932990
HIGH WATER LONDON LTD
Unaudited Filleted Accounts
31 October 2023
HIGH WATER LONDON LTD
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of HIGH WATER LONDON LTD for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HIGH WATER LONDON LTD for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
….......................................
Fordhams & Co. Limited
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
23 January 2024
HIGH WATER LONDON LTD
Registered number: 09932990
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,690 36,595
Current assets
Stocks 2,514 2,141
Debtors 4 35,000 30,812
Cash at bank and in hand 98,894 151,314
136,408 184,267
Creditors: amounts falling due within one year 5 (52,088) (55,357)
Net current assets 84,320 128,910
Net assets 116,010 165,505
Capital and reserves
Called up share capital 3 3
Profit and loss account 116,007 165,502
Shareholders' funds 116,010 165,505
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
…........................ …......................................... …..........................
Mr Hasan Yildiz Mr Parmpal Singh Dhillon Mr Barbaros Inan
Director Director Director
Approved by the board on 23 January 2024
HIGH WATER LONDON LTD
Notes to the Accounts
for the year ended 31 October 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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% Reducing Balance Method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 82,632
Additions 3,768
At 31 October 2023 86,400
Depreciation
At 1 November 2022 46,037
Charge for the year 8,673
At 31 October 2023 54,710
Net book value
At 31 October 2023 31,690
At 31 October 2022 36,595
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 30,000 30,000
Other debtors 5,000 812
35,000 30,812
5 Creditors: amounts falling due within one year 2023 2022
£ £
Net Wages 18,149 -
Pension 1,276 639
Trade creditors 1,312 6,443
Taxation and social security costs 28,834 45,745
Other creditors 2,517 2,530
52,088 55,357
6 Other information
HIGH WATER LONDON LTD is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
HIGH WATER LONDON LTD 09932990 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2022 Mr Hasan Yildiz No description of principal activity 09932990 2021-11-01 2022-10-31 09932990 core:WithinOneYear 2022-10-31 09932990 core:ShareCapital 2022-10-31 09932990 core:RetainedEarningsAccumulatedLosses 2022-10-31 09932990 2022-11-01 2023-10-31 09932990 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09932990 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 09932990 bus:Director40 2022-11-01 2023-10-31 09932990 1 2022-11-01 2023-10-31 09932990 2 2022-11-01 2023-10-31 09932990 core:PlantMachinery 2022-11-01 2023-10-31 09932990 countries:England 2022-11-01 2023-10-31 09932990 bus:FRS102 2022-11-01 2023-10-31 09932990 bus:FullAccounts 2022-11-01 2023-10-31 09932990 2023-10-31 09932990 core:WithinOneYear 2023-10-31 09932990 core:ShareCapital 2023-10-31 09932990 core:RetainedEarningsAccumulatedLosses 2023-10-31 09932990 core:PlantMachinery 2023-10-31 09932990 2022-10-31 09932990 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure