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REGISTERED NUMBER: 00971282 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

K Waterhouse Limited

K Waterhouse Limited (Registered number: 00971282)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K Waterhouse Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Nalin Shah





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 00971282 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

K Waterhouse Limited (Registered number: 00971282)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1 1
Investments 5 1,184,605 933,473
Investment property 6 1,657,143 1,657,143
2,841,749 2,590,617

CURRENT ASSETS
Stocks 110,874 105,792
Debtors 7 238,244 250,964
Cash at bank 975,667 1,200,016
1,324,785 1,556,772
CREDITORS
Amounts falling due within one year 8 460,275 529,664
NET CURRENT ASSETS 864,510 1,027,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,706,259

3,617,725

PROVISIONS FOR LIABILITIES 205,347 205,347
NET ASSETS 3,500,912 3,412,378

CAPITAL AND RESERVES
Called up share capital 75,000 75,000
Retained earnings 3,425,912 3,337,378
3,500,912 3,412,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

K Waterhouse Limited (Registered number: 00971282)

Balance Sheet - continued
30 June 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 director and authorised for issue on 28 October 2024 and were signed by:





Nalin Shah - Director


K Waterhouse Limited (Registered number: 00971282)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

K Waterhouse 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property are initially recorded at cost, which includes purchase price and directly attributable expenditure. Investment properties are revalued to their fair values at each reporting date and any changes in fair values are recognised in profit or loss account and no depreciation is provided in respect of investment properties.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


K Waterhouse Limited (Registered number: 00971282)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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.

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.

Financial instruments
Trade and other debtors/creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Debtors and creditors payable or receivable within one year on initial recognition are measured at the undiscounted amount of the cash expected to be paid or received, net of impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 July 2023
and 30 June 2024 16,063
DEPRECIATION
At 1 July 2023
and 30 June 2024 16,062
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

K Waterhouse Limited (Registered number: 00971282)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 July 2023 933,473
Additions 293,028
Disposals (105,446 )
Revaluations 63,550
At 30 June 2024 1,184,605
NET BOOK VALUE
At 30 June 2024 1,184,605
At 30 June 2023 933,473

Cost or valuation at 30 June 2024 is represented by:

Other
investments
£
Valuation in 2024 1,184,605

The other investments include quoted securities and gilt securities which are stated at fair value.

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,657,143
NET BOOK VALUE
At 30 June 2024 1,657,143
At 30 June 2023 1,657,143

The directors have considered the carrying value of all investment properties and the properties are stated at directors valuation at the Balance Sheet date.

Fair value at 30 June 2024 is represented by:
£
Valuation in 2024 1,657,143

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 211,245 223,965
Other debtors 26,999 26,999
238,244 250,964

K Waterhouse Limited (Registered number: 00971282)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 148,796 176,684
Amounts owed to group undertakings 172,991 177,991
Taxation and social security 86,377 69,501
Other creditors 52,111 105,488
460,275 529,664

9. RELATED PARTY DISCLOSURES

As the company is a wholly owned subsidiary of Pharm-Tex Limited, the company has taken advantage of the exemption contained in FRS 102 1A and has therefore not disclosed transactions on balances with entities which form part of the group headed by Pharm-Tex Limited.

The directors confirm that there are no other related party transactions other than those disclosed in these financial statements.