Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
|
|
|
6,152 | 8,386 | |||
Current assets | ||||
Stocks | 5 |
|
|
|
Debtors | 6 |
|
|
|
Cash at bank and in hand |
|
|
||
5,635,998 | 5,583,405 | |||
Creditors: amounts falling due within one year | 7 | (
|
(
|
|
Net current assets | 45,993 | 49,855 | ||
Total assets less current liabilities | 52,145 | 58,241 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Waterfall Hampton Investment Limited (registered number:
K H Abdul
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Waterfall Hampton Investment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor 86 Whitechapel High Street, London, E1 7QX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company recognises income when:
- the amount of income can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery etc. |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument
is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Fair value measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.
Specifically, judgements and estimates are required in determining the valuation of work in progress.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 March 2023 |
|
|
|
At 29 February 2024 |
|
|
|
Accumulated depreciation | |||
At 01 March 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 29 February 2024 |
|
|
|
Net book value | |||
At 29 February 2024 |
|
|
|
At 28 February 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Work in progress |
|
|
2024 | 2023 | ||
£ | £ | ||
Corporation tax |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Other creditors |
|
|
|
|
|
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Amounts payables to directors | 5,564,565 | 5,508,956 |
Amounts owed to related parties are interest free, unsecured and repayable on demand. During the year the directors made advances of £31,510.