REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 JANUARY 2023 TO 3 FEBRUARY 2024 |
FOR |
WATERWORKS OPERATING COMPANY UK LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 JANUARY 2023 TO 3 FEBRUARY 2024 |
FOR |
WATERWORKS OPERATING COMPANY UK LTD |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 29 January 2023 to 3 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WATERWORKS OPERATING COMPANY UK LTD |
COMPANY INFORMATION |
for the Period 29 January 2023 to 3 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
BALANCE SHEET |
3 February 2024 |
3.2.24 | 28.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Other reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 29 January 2023 to 3 February 2024 |
1. | STATUTORY INFORMATION |
Waterworks Operating Company UK Ltd is a |
Waterworks Operating Company UK Ltd's trading address is 579-581 Kings Road, London, SW6 2EH. |
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. |
The financial statements have been prepared on a going concern basis as Waterworks Holdings, Inc., an intermediate parent company, will continue to support the Company for a period of at least twelve months and one day from the date the audit report attached to these financial statements is signed. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. Turnover is recognised upon delivery, once the company has transferred to the buyer the significant risks and rewards of the ownership of the goods. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
All showroom display stock are goods for resale, stated at the lower of cost and net realisable value. |
Taxation |
Taxation for the period 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. |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 29 January 2023 to 3 February 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
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. |
Basic financial instruments |
Basic financial instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any other financial instrument as covered by Section 12 of FRS 102 (Section 1A). |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 29 January 2023 to 3 February 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 29 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer |
At 3 February 2024 |
DEPRECIATION |
At 29 January 2023 |
Charge for period |
At 3 February 2024 |
NET BOOK VALUE |
At 3 February 2024 |
At 28 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
3.2.24 | 28.1.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
3.2.24 | 28.1.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 3.2.24 | 28.1.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
WATERWORKS OPERATING COMPANY UK LTD (REGISTERED NUMBER: 08470022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 29 January 2023 to 3 February 2024 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
9. | ULTIMATE PARENT COMPANY |
RH, formerly known as Restoration Hardware Holdings Inc (incorporated in USA), is regarded by the directors as being the company's ultimate parent company. This the largest and smallest group for which consolidated accounts are produced. These consolidated accounts are publicly available, and can be found at ir.rh.com. |
Waterworks Holdings, Inc is regarded as the company's immediate parent company, incorporated in the USA, with its registered office at 60 Backus Avenue, Danbury, CT 06810, USA. |
10. | SECURITY |
The company's bank holds a fixed charge with negative pledge over all the assets of the company in relation to any debts due to the bank, including the balance in a collateral account of £230,726 at the year end (2023: £224,861) which is shown within Cash at bank. At the year end, there are no amounts owed to the bank. |