Company registration number 06739917 (England and Wales)
WATERMELON INVESTMENTS PLC
DORMANT ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
WATERMELON INVESTMENTS PLC
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 May 2024.

Principal activities

The company was dormant during the year. However, the intention of the company remains the investment in freehold ground rents and to provide ancillary services.

Results and dividends

The company was dormant throughout the year.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr A M O'Connor
Mr R K Allen
Financial instruments

Given the current status of the company the directors do not consider there to be any significant risks relating to financial instruments.

On behalf of the board
Mr R K Allen
Director
10 February 2025
WATERMELON INVESTMENTS PLC
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
1,620
1,620
Cash at bank and in hand
113
113
1,733
1,733
Creditors: amounts falling due within one year
5
(55,897)
(55,897)
Net current liabilities
(54,164)
(54,164)
Capital and reserves
Called up share capital
6
114,132
114,132
Share premium account
715,556
715,556
Profit and loss reserves
(883,852)
(883,852)
Total equity
(54,164)
(54,164)
The company was dormant throughout the year and therefore no profit and loss acount has been presented in these financial statements

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved by the board of directors and authorised for issue on 10 February 2025 and are signed on its behalf by:
Mr R K Allen
Director
Company registration number 06739917 (England and Wales)
WATERMELON INVESTMENTS PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Watermelon Investments PLC is a public company limited by shares incorporated in England and Wales. The registered office is 124 City Road, London, EC1V 2NX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applied to a dormant company.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest GB pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

 

WATERMELON INVESTMENTS PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.3
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The directors consider there to be no significant judgements or uncertainties in the preparation of the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
2
2
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,620
1,620
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
50,497
50,497
Accruals and deferred income
5,400
5,400
55,897
55,897
WATERMELON INVESTMENTS PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
6
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.01p each
50,113,717
50,113,717
5,012
5,012
Deferred shares of 1.24p each
8,800,000
8,800,000
109,120
109,120
58,913,717
58,913,717
114,132
114,132

The deferred shares have no voting or dividend rights. They have rights to participate in a distribution as to their nominal value after payment of £100 to holders of each and every ordinary share. The shares are not redeemable.

7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Key management personnel
30,355
30,355
Other related parties
840
840

The balances above were on informal terms with no interest being charged on the balances.

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
1,620
1,620

The balances above were on informal terms with no interest being charged on the balances.

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