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Registered number: SC442305
Waterfall Public Relations Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Almond Valley Accounting Limited
CIMA
Suite 14 Ellismuir House Ellismuir Way
Uddingston
Glasgow
G71 5PW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC442305
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 505 631
505 631
CURRENT ASSETS
Debtors 5 10,935 7,920
Cash at bank and in hand 23,121 9,963
34,056 17,883
Creditors: Amounts Falling Due Within One Year 6 (16,913 ) (12,735 )
NET CURRENT ASSETS (LIABILITIES) 17,143 5,148
TOTAL ASSETS LESS CURRENT LIABILITIES 17,648 5,779
NET ASSETS 17,648 5,779
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 17,548 5,679
SHAREHOLDERS' FUNDS 17,648 5,779
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Claire Willers
Director
27/11/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Waterfall Public Relations Limited is a private company, limited by shares, incorporated in Scotland, registered number SC442305 . The registered office is 148 - 150, Cumbernauld Road Muirhead, Glasgow, G69 9DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,040 3,014 4,054
As at 31 March 2024 1,040 3,014 4,054
Depreciation
As at 1 April 2023 376 3,047 3,423
Provided during the period 240 (114 ) 126
As at 31 March 2024 616 2,933 3,549
Net Book Value
As at 31 March 2024 424 81 505
As at 1 April 2023 664 (33 ) 631
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,935 7,920
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 10,047 6,759
VAT 5,253 3,936
Accruals and deferred income - 15
Director's loan account 1,613 2,025
16,913 12,735
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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