Silverfin false false 29/02/2024 01/03/2023 29/02/2024 K H Abdul S N Prasad 29 November 2024 The principal activity of the Company during the financial year was the development of building projects. 10634221 2024-02-29 10634221 2023-02-28 10634221 core:CurrentFinancialInstruments 2024-02-29 10634221 core:CurrentFinancialInstruments 2023-02-28 10634221 core:ShareCapital 2024-02-29 10634221 core:ShareCapital 2023-02-28 10634221 core:RetainedEarningsAccumulatedLosses 2024-02-29 10634221 core:RetainedEarningsAccumulatedLosses 2023-02-28 10634221 core:OtherPropertyPlantEquipment 2023-02-28 10634221 core:OtherPropertyPlantEquipment 2024-02-29 10634221 2023-03-01 2024-02-29 10634221 bus:FilletedAccounts 2023-03-01 2024-02-29 10634221 bus:SmallEntities 2023-03-01 2024-02-29 10634221 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10634221 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10634221 bus:Director1 2023-03-01 2024-02-29 10634221 bus:Director2 2023-03-01 2024-02-29 10634221 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-03-01 2024-02-29 10634221 2022-03-01 2023-02-28 10634221 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 10634221 (England and Wales)

WATERFALL HAMPTON INVESTMENT LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

WATERFALL HAMPTON INVESTMENT LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

WATERFALL HAMPTON INVESTMENT LIMITED

BALANCE SHEET

As at 29 February 2024
WATERFALL HAMPTON INVESTMENT LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 6,152 8,386
6,152 8,386
Current assets
Stocks 5 5,630,520 5,567,900
Debtors 6 4,943 12,837
Cash at bank and in hand 535 2,668
5,635,998 5,583,405
Creditors: amounts falling due within one year 7 ( 5,590,005) ( 5,533,550)
Net current assets 45,993 49,855
Total assets less current liabilities 52,145 58,241
Net assets 52,145 58,241
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 51,145 57,241
Total shareholders' funds 52,145 58,241

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Waterfall Hampton Investment Limited (registered number: 10634221) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

K H Abdul
Director
WATERFALL HAMPTON INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
WATERFALL HAMPTON INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Other income comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company’s activities. Other income is shown net of value added tax, returns, rebates and discounts.

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.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs, capitalised interest and an appropriate proportion of fixed and variable overheads.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

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.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2023 15,183 15,183
At 29 February 2024 15,183 15,183
Accumulated depreciation
At 01 March 2023 6,797 6,797
Charge for the financial year 2,234 2,234
At 29 February 2024 9,031 9,031
Net book value
At 29 February 2024 6,152 6,152
At 28 February 2023 8,386 8,386

5. Stocks

2024 2023
£ £
Work in progress 5,630,520 5,567,900

6. Debtors

2024 2023
£ £
Corporation tax 4,435 4,435
Other debtors 508 8,402
4,943 12,837

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,187 0
Other creditors 5,586,818 5,533,550
5,590,005 5,533,550

8. Related party transactions

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.