Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr A C Faull 15/03/2016 Mr H G Faull 19/09/2023 Mrs H E Faull 19/09/2023 15/03/2016 23 September 2024 The principal activity of the Company during the financial year was property development. 10062898 2024-03-31 10062898 bus:Director1 2024-03-31 10062898 bus:Director2 2024-03-31 10062898 bus:Director3 2024-03-31 10062898 2023-03-31 10062898 core:CurrentFinancialInstruments 2024-03-31 10062898 core:CurrentFinancialInstruments 2023-03-31 10062898 core:Non-currentFinancialInstruments 2024-03-31 10062898 core:Non-currentFinancialInstruments 2023-03-31 10062898 core:ShareCapital 2024-03-31 10062898 core:ShareCapital 2023-03-31 10062898 core:CapitalRedemptionReserve 2024-03-31 10062898 core:CapitalRedemptionReserve 2023-03-31 10062898 core:RetainedEarningsAccumulatedLosses 2024-03-31 10062898 core:RetainedEarningsAccumulatedLosses 2023-03-31 10062898 core:OtherPropertyPlantEquipment 2023-03-31 10062898 core:OtherPropertyPlantEquipment 2024-03-31 10062898 2023-04-01 2024-03-31 10062898 bus:FilletedAccounts 2023-04-01 2024-03-31 10062898 bus:SmallEntities 2023-04-01 2024-03-31 10062898 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10062898 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10062898 bus:Director1 2023-04-01 2024-03-31 10062898 bus:Director2 2023-04-01 2024-03-31 10062898 bus:Director3 2023-04-01 2024-03-31 10062898 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10062898 2022-01-02 2023-03-31 10062898 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10062898 (England and Wales)

WATERFALL DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

WATERFALL DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

WATERFALL DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
WATERFALL DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 249 16,854
249 16,854
Current assets
Stocks 0 1,605,174
Debtors 4 2,576,197 14,077,544
Cash at bank and in hand 254,705 114,472
2,830,902 15,797,190
Creditors: amounts falling due within one year 5 ( 325,355) ( 8,759,498)
Net current assets 2,505,547 7,037,692
Total assets less current liabilities 2,505,796 7,054,546
Creditors: amounts falling due after more than one year 6 0 ( 4,255,000)
Net assets 2,505,796 2,799,546
Capital and reserves
Called-up share capital 750 1,000
Capital redemption reserve 250 0
Profit and loss account 2,504,796 2,798,546
Total shareholders' funds 2,505,796 2,799,546

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Waterfall Developments Limited (registered number: 10062898) were approved and authorised for issue by the Board of Directors on 23 September 2024. They were signed on its behalf by:

Mr A C Faull
Director
WATERFALL DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
WATERFALL DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Waterfall Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 41a Banks Road, Sandbanks, Poole, BH13 7PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

2. Employees

Year ended
31.03.2024
Period from
02.01.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 102,412 102,412
Disposals ( 101,280) ( 101,280)
At 31 March 2024 1,132 1,132
Accumulated depreciation
At 01 April 2023 85,558 85,558
Charge for the financial year 2,836 2,836
Disposals ( 87,511) ( 87,511)
At 31 March 2024 883 883
Net book value
At 31 March 2024 249 249
At 31 March 2023 16,854 16,854

4. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 558,528 13,945,058
Other debtors 2,017,669 132,486
2,576,197 14,077,544

5. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Bank loans 0 871,990
Taxation and social security 113,169 550,738
Other creditors 212,186 7,336,770
325,355 8,759,498

6. Creditors: amounts falling due after more than one year

31.03.2024 31.03.2023
£ £
Bank loans 0 4,255,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Transactions with the entity's directors

31.03.2024 31.03.2023
£ £
Overdrawn directors loan. 1,950,321 75,000

Interest has been charged on the overdrawn balance.