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REGISTERED NUMBER: 07905764 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Watergate Haulage Limited

Watergate Haulage Limited (Registered number: 07905764)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Watergate Haulage Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr John Philip Burrells
Mrs Elizabeth Ann Burrells





REGISTERED OFFICE: Watergate Farm
Egton
Whitby
North Yorkshire
YO21 1UG





REGISTERED NUMBER: 07905764 (England and Wales)





ACCOUNTANTS: Hallgarth Accountants Ltd
2 Hallgarth
Pickering
North Yorkshire
YO18 7AW

Watergate Haulage Limited (Registered number: 07905764)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,364 60,295

CURRENT ASSETS
Debtors 5 12,876 16,123
Cash at bank 11,032 4,021
23,908 20,144
CREDITORS
Amounts falling due within one year 6 38,497 27,895
NET CURRENT LIABILITIES (14,589 ) (7,751 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,775

52,544

CREDITORS
Amounts falling due after more than one
year

7

(10,795

)

(19,358

)

PROVISIONS FOR LIABILITIES (9,759 ) (11,456 )
NET ASSETS 16,221 21,730

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 16,217 21,726
SHAREHOLDERS' FUNDS 16,221 21,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Watergate Haulage Limited (Registered number: 07905764)

Balance Sheet - continued
31 March 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr John Philip Burrells - Director


Watergate Haulage Limited (Registered number: 07905764)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Watergate Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 10% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Watergate Haulage Limited (Registered number: 07905764)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 43,501 579 80,434 1,097 125,611
Additions - - - 1,050 1,050
Disposals (608 ) - - (1,097 ) (1,705 )
At 31 March 2024 42,893 579 80,434 1,050 124,956
DEPRECIATION
At 1 April 2023 12,320 157 52,684 155 65,316
Charge for year 3,093 42 5,550 105 8,790
Eliminated on disposal (359 ) - - (155 ) (514 )
At 31 March 2024 15,054 199 58,234 105 73,592
NET BOOK VALUE
At 31 March 2024 27,839 380 22,200 945 51,364
At 31 March 2023 31,181 422 27,750 942 60,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 11,809 15,237
Other debtors 1,067 886
12,876 16,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,914 6,524
Trade creditors 6,700 3,204
Taxation and social security 7,779 8,372
Other creditors 17,104 9,795
38,497 27,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 10,795 19,358