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REGISTERED NUMBER: 07789352 (England and Wales)















WATERMAN PHOTO LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






WATERMAN PHOTO LTD (REGISTERED NUMBER: 07789352)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


WATERMAN PHOTO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Director: P J Waterman





Registered office: 2 Tower House
Hoddesdon
Hertfordshire
EN11 8UR





Registered number: 07789352 (England and Wales)





Accountants: Roberts & Co
Chartered Accountants
2 Tower House
Hoddesdon
Hertfordshire
EN11 8UR

WATERMAN PHOTO LTD (REGISTERED NUMBER: 07789352)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 5,615 2,737
5,615 2,737

Current assets
Debtors 6 2,964 313
Cash at bank 4,262 15,501
7,226 15,814
Creditors
Amounts falling due within one year 7 18,868 10,563
Net current (liabilities)/assets (11,642 ) 5,251
Total assets less current liabilities (6,027 ) 7,988

Creditors
Amounts falling due after more than one
year

8

14,825

18,001
Net liabilities (20,852 ) (10,013 )

Capital and reserves
Called up share capital 2 2
Retained earnings (20,854 ) (10,015 )
Shareholders' funds (20,852 ) (10,013 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 January 2025 and were signed by:





P J Waterman - Director


WATERMAN PHOTO LTD (REGISTERED NUMBER: 07789352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. Statutory information

Waterman Photo Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
As at 30 September 2024, the Company balance sheet reports net liabilities of £20,852 (2023: £10,013). These accounts have been prepared on the going concern basis, on the basis that the director will continue to financially support the Company until it reaches a solvent position.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

WATERMAN PHOTO LTD (REGISTERED NUMBER: 07789352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023
and 30 September 2024 10,000
Amortisation
At 1 October 2023
and 30 September 2024 10,000
Net book value
At 30 September 2024 -
At 30 September 2023 -

5. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 October 2023 56,098
Additions 4,761
At 30 September 2024 60,859
Depreciation
At 1 October 2023 53,361
Charge for year 1,883
At 30 September 2024 55,244
Net book value
At 30 September 2024 5,615
At 30 September 2023 2,737

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 2,597 -
Other debtors 367 313
2,964 313

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 3,177 3,673
Taxation and social security 588 744
Other creditors 15,103 6,146
18,868 10,563

WATERMAN PHOTO LTD (REGISTERED NUMBER: 07789352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 14,825 18,001

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 years 2,118 5,294

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£ £
P J Waterman
Balance outstanding at start of year - 15,263
Amounts repaid - (15,263 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -