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REGISTERED NUMBER: 13900318 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WAT320 LTD

WAT320 LTD (REGISTERED NUMBER: 13900318)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WAT320 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A C Sufrin





REGISTERED OFFICE: 74 Brent Street
London
NW4 2ES





REGISTERED NUMBER: 13900318 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

WAT320 LTD (REGISTERED NUMBER: 13900318)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 3,000,000 1,466,220

CURRENT ASSETS
Debtors 5 15,180 30,000
Cash at bank and in hand 11,279 526
26,459 30,526
CREDITORS
Amounts falling due within one year 6 (293,812 ) (466,318 )
NET CURRENT LIABILITIES (267,353 ) (435,792 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,732,647

1,030,428

CREDITORS
Amounts falling due after more than one
year

7

(2,358,113

)

(1,167,169

)

PROVISIONS FOR LIABILITIES (130,778 ) -
NET ASSETS/(LIABILITIES) 243,756 (136,741 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 557,528 -
Retained earnings 10 (313,872 ) (136,841 )
SHAREHOLDERS' FUNDS 243,756 (136,741 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

WAT320 LTD (REGISTERED NUMBER: 13900318)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 18 November 2024 and were signed by:





A C Sufrin - Director


WAT320 LTD (REGISTERED NUMBER: 13900318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

WAT320 Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,466,220
Additions 845,474
Revaluations 688,306
At 29 February 2024 3,000,000
NET BOOK VALUE
At 29 February 2024 3,000,000
At 28 February 2023 1,466,220

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 688,306
Cost 2,311,694
3,000,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 780 -
Other debtors 14,400 30,000
15,180 30,000

WAT320 LTD (REGISTERED NUMBER: 13900318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 41,927 14,816
Other creditors 201,030 450,902
Accrued expenses 50,855 600
293,812 466,318

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans more 5 yrs non-inst 2,358,113 -
Other loans - 2-5 years - 1,167,169
2,358,113 1,167,169

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,358,113 -

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 2,358,113 -
Other loans - 1,167,169
2,358,113 1,167,169

Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

WAT320 LTD (REGISTERED NUMBER: 13900318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2023 (136,841 ) - (136,841 )
Profit for the year 380,497 380,497
Fair value reserve (557,528 ) 557,528 -
At 29 February 2024 (313,872 ) 557,528 243,656

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A C Sufrin.