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Registered number: 12388037
Keith Waterfield Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Goldwyns London LLP
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 12388037
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 912 1,140
Investments 5 50 50
962 1,190
CURRENT ASSETS
Debtors 6 11,000 -
Cash at bank and in hand 24,559 18,641
35,559 18,641
Creditors: Amounts Falling Due Within One Year 7 (18,272 ) (19,514 )
NET CURRENT ASSETS (LIABILITIES) 17,287 (873 )
TOTAL ASSETS LESS CURRENT LIABILITIES 18,249 317
PROVISIONS FOR LIABILITIES
Deferred Taxation (173 ) (217 )
NET ASSETS 18,076 100
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 17,976 -
SHAREHOLDERS' FUNDS 18,076 100
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr K Waterfield
Director
04/05/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Keith Waterfield Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12388037 . The registered office is C/O LAS Accountants LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies adopted are set below.

2.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Deprecation is provided at the following annuals rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 15% Reducing balance
Computer Equipment 25% Reducing balance
Tangible asset are initally recorded at cost and subsequently stared at cost less accumulated depreciation and impairment losses.
2.5. Financial Instruments
The company only enters into basic financial transactions that result in the recoginition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other parties, loans to related parties and investments in non- puttable ordinary shares.
2.6. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 statement of financial position date.

Deferred Tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7. Investments
Investments in listed and unlisted company shares whos market value can be reliably determined are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. For unlisted investments where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.9. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.

The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 800 999 1,799
As at 31 January 2024 800 999 1,799
Depreciation
As at 1 February 2023 222 437 659
Provided during the period 87 141 228
As at 31 January 2024 309 578 887
Net Book Value
As at 31 January 2024 491 421 912
As at 1 February 2023 578 562 1,140
5. Investments
Listed
£
Cost
As at 1 February 2023 50
As at 31 January 2024 50
Provision
As at 1 February 2023 -
As at 31 January 2024 -
...CONTINUED
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Net Book Value
As at 31 January 2024 50
As at 1 February 2023 50
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 11,000 -
11,000 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 1,199 900
Director's loan account 17,073 18,614
18,272 19,514
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and there are 100 Ordinary shares in issue.
9. Related Party Transactions
The Directors Loan Account balance of Mr K Waterfield £17,073 is a current liability, is interest free and repayable on demand.
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