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REGISTERED NUMBER: 07333799 (England and Wales)



















WATERHALL JOINERY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,892 23,243

CURRENT ASSETS
Debtors 5 13,619 20,765
Cash at bank 11,181 18,773
24,800 39,538
CREDITORS
Amounts falling due within one year 6 25,432 17,599
NET CURRENT (LIABILITIES)/ASSETS (632 ) 21,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,260

45,182

CREDITORS
Amounts falling due after more than one
year

7

(29,532

)

(31,677

)

PROVISIONS FOR LIABILITIES (6,798 ) (3,718 )
NET ASSETS 930 9,787

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 830 9,687
SHAREHOLDERS' FUNDS 930 9,787

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.

WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Mr T D Curtis - Director


WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Waterhall Joinery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07333799

Registered office: The Workshop, Waterhall Farm
The Valley
Whitwell
Hitchin
Hertfordshire
SG4 8BN

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from bespoke joinery and installation services and is recognised when the services are received by the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 24,925 28,802 6,902 60,629
Additions 751 25,299 246 26,296
Disposals - (6,617 ) - (6,617 )
At 31 March 2024 25,676 47,484 7,148 80,308
DEPRECIATION
At 1 April 2023 23,080 8,801 5,505 37,386
Charge for year 1,366 9,186 968 11,520
Eliminated on disposal - (6,490 ) - (6,490 )
At 31 March 2024 24,446 11,497 6,473 42,416
NET BOOK VALUE
At 31 March 2024 1,230 35,987 675 37,892
At 31 March 2023 1,845 20,001 1,397 23,243

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 22,185
Additions 25,299
At 31 March 2024 47,484
DEPRECIATION
At 1 April 2023 2,311
Charge for year 9,186
At 31 March 2024 11,497
NET BOOK VALUE
At 31 March 2024 35,987
At 31 March 2023 19,874

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,619 20,765

WATERHALL JOINERY LTD (REGISTERED NUMBER: 07333799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,853 2,740
Hire purchase contracts 4,593 3,394
Trade creditors 1,001 494
Taxation and social security 3,989 6,955
Other creditors 12,996 4,016
25,432 17,599

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,383 19,235
Hire purchase contracts 13,149 12,442
29,532 31,677

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,319 7,075

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £13,000 (2023 - £18,000) were paid to the directors .

Dividends totalling £1,000 (2023 - £2,000) were paid to a close family member of the director, T D Curtis.

At the year end, the directors were owed £3,330 (2023 - £144).