Registered number
04319381
Waters Travel Limited
Filleted Accounts
31 March 2024
Waters Travel Limited
Registered number: 04319381
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 747 1,103
Current assets
Stocks 12,500 22,500
Debtors 4 52 522
Cash at bank and in hand 550 2,350
13,102 25,372
Creditors: amounts falling due within one year 5 (25,745) (26,273)
Net current liabilities (12,643) (901)
Net (liabilities)/assets (11,896) 202
Capital and reserves
Called up share capital 100 100
Profit and loss account (11,996) 102
Shareholders' funds (11,896) 202
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs K Waters
Director
Approved by the board on 24 November 2024
Waters Travel Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% Reducing balance
Plant and machinery 33% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer equipment Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 3,275 16,326 19,601
At 31 March 2024 3,275 16,326 19,601
Depreciation
At 1 April 2023 3,130 15,368 18,498
Charge for the year 37 319 356
At 31 March 2024 3,167 15,687 18,854
Net book value
At 31 March 2024 108 639 747
At 31 March 2023 145 958 1,103
4 Debtors 2024 2023
£ £
Other debtors 52 522
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan account 25,085 25,613
Other creditors 660 660
25,745 26,273
6 Other information
Waters Travel Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Down Barn Close
Winterbourne Gunner
Salisbury
Wiltshire
SP4 6JP
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