Waterfront DM Limited
Registered number: 09983052
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,200 -
Current assets
Debtors 4 25,000 25,000
Cash at bank and in hand 10,786 19,412
35,786 44,412
Creditors: amounts falling due within one year 5 11,917 1,572
Net current assets 47,703 45,984
Net assets 56,903 45,984
Capital and reserves
Called up share capital 100 100
Profit and loss account 56,803 45,884
Shareholders' funds 56,903 45,984
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.
David Isaiah Perry
Director
Approved by the board on 5 December 2024
Waterfront DM 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 11,599
At 31 March 2024 11,599
Depreciation
Charge for the year 2,399
At 31 March 2024 2,399
Net book value
At 31 March 2024 9,200
4 Debtors 2024 2023
£ £
Other debtors 25,000 25,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 2,148
Corporation tax 5,140 4,433
Other taxes and social security costs 360 (377)
Other creditors (17,417) (7,776)
(11,917) (1,572)
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
David Isaiah Perry
[Loan 1] 809 9,762 (2,000) 8,571
809 9,762 (2,000) 8,571
7 Other information
Waterfront DM Limited is a private company limited by shares and incorporated in England. Its registered office is:
Silkstone House
Pioneer Close
Wath upon Dearne
Rotherham
S63 7JZ
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