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Company registration number:
1533165
Waterlane Properties Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Waterlane Properties Ltd
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5 -  
833
 
Current assets    
Stocks
545,000
 
545,000
 
Debtors 6
354,618
 
349,551
 
Investments 7
2
 
2
 
Cash at bank and in hand
36,139
 
18,792
 
935,759
 
913,345
 
Creditors: amounts falling due within one year 8
(210,715
)
(180,638
)
Net current assets
725,044
 
732,707
 
Total assets less current liabilities 725,044   733,540  
Capital and reserves    
Called up share capital
101,000
 
101,000
 
Profit and loss account
624,044
 
632,540
 
Shareholders funds
725,044
 
733,540
 
For the year ending
30 June 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
7 March 2024
, and are signed on behalf of the board by:
Mr John Mills
Director
Company registration number:
1533165
Waterlane Properties Ltd
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Hoppingwood Farm
,
Robin Hood Way
,
London
,
SW20 0AB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
15% straight line
Office equipment
15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2022:
4.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2022
and
30 June 2023
19,945
 
Depreciation  
At
1 July 2022
19,112
 
Charge
833
 
At
30 June 2023
19,945
 
Carrying amount  
At
30 June 2023
-  
At 30 June 2022
833
 

6 Debtors

20232022
££
Trade debtors
191,163
 
191,190
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
138,238
 
138,238
 
Other debtors
25,217
 
20,123
 
354,618
 
349,551
 
The debtors above include the following amounts falling due after more than one year:
20232022
££
Other debtors
76,687
 
76,687
 

7 Investments

20232022
££
Current asset shares in group undertakings
2
 
2
 

8 Creditors: amounts falling due within one year

20232022
££
Trade creditors
717
 
7,811
 
Taxation and social security
374
 
1,225
 
Other creditors
209,624
 
171,602
 
210,715
 
180,638