Silverfin false false 31/12/2024 01/01/2024 31/12/2024 D J Guest 20/01/2023 D F Merrick 01/11/2014 A D Merrick 07/04/2008 J M Wyatt 10/07/2020 Mrs A D Merrick Mr D F Merrick Mrs A D Merrick 20 March 2025 The principal activity of the company is the distribution of marine propulsion and auxiliary engines and engine room installation accessories, together with the design and building of generating sets and power packs. 00627154 2024-12-31 00627154 bus:Director1 2024-12-31 00627154 bus:Director2 2024-12-31 00627154 bus:Director3 2024-12-31 00627154 bus:Director4 2024-12-31 00627154 2023-12-31 00627154 core:CurrentFinancialInstruments 2024-12-31 00627154 core:CurrentFinancialInstruments 2023-12-31 00627154 core:Non-currentFinancialInstruments 2024-12-31 00627154 core:Non-currentFinancialInstruments 2023-12-31 00627154 core:ShareCapital 2024-12-31 00627154 core:ShareCapital 2023-12-31 00627154 core:CapitalRedemptionReserve 2024-12-31 00627154 core:CapitalRedemptionReserve 2023-12-31 00627154 core:RetainedEarningsAccumulatedLosses 2024-12-31 00627154 core:RetainedEarningsAccumulatedLosses 2023-12-31 00627154 core:LandBuildings 2023-12-31 00627154 core:PlantMachinery 2023-12-31 00627154 core:Vehicles 2023-12-31 00627154 core:OfficeEquipment 2023-12-31 00627154 core:LandBuildings 2024-12-31 00627154 core:PlantMachinery 2024-12-31 00627154 core:Vehicles 2024-12-31 00627154 core:OfficeEquipment 2024-12-31 00627154 bus:OrdinaryShareClass1 2024-12-31 00627154 2024-01-01 2024-12-31 00627154 bus:FilletedAccounts 2024-01-01 2024-12-31 00627154 bus:SmallEntities 2024-01-01 2024-12-31 00627154 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 00627154 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00627154 bus:Director1 2024-01-01 2024-12-31 00627154 bus:Director2 2024-01-01 2024-12-31 00627154 bus:Director3 2024-01-01 2024-12-31 00627154 bus:Director4 2024-01-01 2024-12-31 00627154 bus:Director5 2024-01-01 2024-12-31 00627154 bus:Director6 2024-01-01 2024-12-31 00627154 bus:Director7 2024-01-01 2024-12-31 00627154 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 00627154 core:PlantMachinery 2024-01-01 2024-12-31 00627154 core:Vehicles 2024-01-01 2024-12-31 00627154 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 00627154 2023-01-01 2023-12-31 00627154 core:LandBuildings 2024-01-01 2024-12-31 00627154 core:OfficeEquipment 2024-01-01 2024-12-31 00627154 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 00627154 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 00627154 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00627154 (England and Wales)

WATERMOTA LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

WATERMOTA LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

WATERMOTA LIMITED

BALANCE SHEET

As at 31 December 2024
WATERMOTA LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 526,813 541,516
526,813 541,516
Current assets
Stocks 1,113,100 1,300,777
Debtors 4 610,734 421,720
Cash at bank and in hand 661,365 434,729
2,385,199 2,157,226
Creditors: amounts falling due within one year 5 ( 1,280,994) ( 1,084,135)
Net current assets 1,104,205 1,073,091
Total assets less current liabilities 1,631,018 1,614,607
Creditors: amounts falling due after more than one year 6 ( 13,099) ( 23,279)
Provision for liabilities ( 20,500) ( 28,500)
Net assets 1,597,419 1,562,828
Capital and reserves
Called-up share capital 7 20,700 20,700
Capital redemption reserve 10,000 10,000
Profit and loss account 1,566,719 1,532,128
Total shareholder's funds 1,597,419 1,562,828

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Watermota Limited (registered number: 00627154) were approved and authorised for issue by the Board of Directors on 20 March 2025. They were signed on its behalf by:

Mrs A D Merrick
Director
Mr D F Merrick
Director
WATERMOTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
WATERMOTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Watermota 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 Unit 2 Cavalier Road, Heathfield Industrial Estate, Newton Abbot, TQ12 6TQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 company utilised the Government backed Bounce Back Loan scheme last year. The loan is recognised on the balance sheet and interest is charged to the profit and loss account in the period to which it relates. The loan interest rate is 2.5% and the final repayment is due to be made in February 2027.

It is the opinion of the directors, that the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future. These financial statements have therefore been prepared on a going concern basis.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange rate differences are taken into account in arriving at the operating profit.

Turnover

Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided. Turnover is recognised when goods are supplied or when services are provided.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
100 years straight line
Plant and machinery 10 % reducing balance
Vehicles 25 % reducing balance
Office equipment 5 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.

Leases

The Company as lessee
Rentals applicable to operating leases, wehere substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on straight line basis.

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 15

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 530,021 159,299 33,932 65,701 788,953
Additions 167 291 0 1,483 1,941
Disposals 0 ( 190) 0 0 ( 190)
At 31 December 2024 530,188 159,400 33,932 67,184 790,704
Accumulated depreciation
At 01 January 2024 75,473 91,775 25,086 55,103 247,437
Charge for the financial year 5,187 5,804 2,212 3,354 16,557
Disposals 0 ( 103) 0 0 ( 103)
At 31 December 2024 80,660 97,476 27,298 58,457 263,891
Net book value
At 31 December 2024 449,528 61,924 6,634 8,727 526,813
At 31 December 2023 454,548 67,524 8,846 10,598 541,516

4. Debtors

2024 2023
£ £
Trade debtors 558,734 394,577
Accrued income 25,299 10,130
Other debtors 26,701 17,013
610,734 421,720

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 422,603 320,896
Trade creditors 210,266 250,953
Accruals 370,011 218,572
Taxation and social security 125,424 194,251
Other creditors 152,690 99,463
1,280,994 1,084,135

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 13,099 23,279

Bank loans are secured by a charge over the company assets.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,700 Ordinary shares of £ 1.00 each 20,700 20,700