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Registered Number: 11391334
England and Wales

 

 

 


Report of the Directors and Unaudited Financial Statements

for the year ended 30 November 2023

for

ON WATER DEVELOPMENTS LIMITED

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 39,830  47,288 
Current assets 32,959  38,763 
Creditors: amount falling due within one year (1,761) (101,642)
Net current assets 31,198  (62,879)
Total assets less current liabilities 71,028  (15,591)
Creditors: amount falling due after more than one year (49,988) (50,000)
Net assets 21,040  (65,591)
 
Capital and reserves 21,040  (65,591)
 
  1. For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Neil Bruce Michael Brooker
Director

Date approved: 29 November 2024
1
Statutory Information
ON WATER DEVELOPMENTS LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 11391334, registration address 2nd Floor 113a Fore Street, Kingsbridge, TQ7 1AB, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings20% Reducing Balance
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over [10] years.
2.

Intangible fixed assets

Cost or Valuation Computer software   Total
  £   £
At 01 December 2022 50,000    50,000 
Additions  
Disposals  
At 30 November 2023 50,000    50,000 
Amortisation
At 01 December 2022 15,000    15,000 
Charge for year 5,000    5,000 
On disposals  
At 30 November 2023 20,000    20,000 
Net book values
At 30 November 2023 30,000    30,000 
At 30 November 2022 35,000    35,000 

3.

Tangible fixed assets

Cost or Valuation Fixtures and Fittings   Total
  £   £
At 01 December 2022 24,000    24,000 
Additions  
Disposals  
At 30 November 2023 24,000    24,000 
Depreciation
At 01 December 2022 11,712    11,712 
Charge for year 2,458    2,458 
On disposals  
At 30 November 2023 14,170    14,170 
Net book values
Closing balance as at 30 November 2023 9,830    9,830 
Opening balance as at 01 December 2022 12,288    12,288 

4.

Average number of employees

Average number of employees during the year was 2  (2022: 2).
2