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Registered Number: 14897105
England and Wales

 

 

 

WATERMEAD STAY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 26 May 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
Fixed assets    
Intangible fixed assets 4 48,000 
Tangible fixed assets 5 782,196 
830,196 
Current assets    
Stocks 6 450 
Debtors 7 3,051 
Cash at bank and in hand 9,301 
12,802 
Creditors: amount falling due within one year 8 (676,862)
Net current assets (664,060)
 
Total assets less current liabilities 166,136 
Creditors: amount falling due after more than one year 9 (189,328)
Net assets (23,192)
 

Capital and reserves
   
Called up share capital 10 
Profit and loss account (23,202)
Shareholders' funds (23,192)
 


For the period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 February 2025 and were signed on its behalf by:


-------------------------------
Ms J Tillotson
Director
-------------------------------
Mr G E Birch
Director
1
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 26 May 2023
Profit for the period (23,202) (23,202)
Total comprehensive income for the period (23,202) (23,202)
Shares issued 10  10 
Total investments by and distributions to owners 10  10 
At 31 August 2024 10  (23,202) (23,192)
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General Information
Watermead Stay Ltd is a private company, limited by shares, registered in England and Wales, registration number 14897105, registration address Watermead House, 83 High Street, Chard, TA20 1QT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and fittings 15% reducing balance
Computer equipment 3 years straight line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 3.
3.

Indebtedness

Included in Creditors: amounts falling due within one year is a secured loan of £5,336.  Included in Creditors: amounts falling due after more than one year is a secured loan of £189,328.

4.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 26 May 2023  
Additions 60,000    60,000 
Disposals  
At 31 August 2024 60,000    60,000 
Amortisation
At 26 May 2023  
Charge for period 12,000    12,000 
On disposals  
At 31 August 2024 12,000    12,000 
Net book values
At 31 August 2024 48,000    48,000 
At 25 May 2023  


5.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 26 May 2023    
Additions 726,595    66,289    792,884 
Disposals    
At 31 August 2024 726,595    66,289    792,884 
Depreciation
At 26 May 2023    
Charge for period   10,688    10,688 
On disposals    
At 31 August 2024   10,688    10,688 
Net book values
Closing balance as at 31 August 2024 726,595    55,601    782,196 
Opening balance as at 26 May 2023    


6.

Stocks

2024
£
Stocks 450 
450 

7.

Debtors: amounts falling due within one year

2024
£
Trade Debtors 1,922 
Prepayments & Accrued Income 1,129 
3,051 

8.

Creditors: amount falling due within one year

2024
£
Trade Creditors 6,624 
Bank Loans & Overdrafts 5,336 
Taxation and Social Security 3,100 
Other Creditors 661,802 
676,862 

9.

Creditors: amount falling due after more than one year

2024
£
Other Creditors 189,328 
189,328 

10.

Related Party Transactions

Included in Creditors: amounts falling due within one year is an amount of £660,217 owed to the directors of the company.
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