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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

I. WATERMAN (BOX MAKERS) LIMITED

I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


I. WATERMAN (BOX MAKERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D R Waterman
Mrs S R Benhur



SECRETARY: D R Waterman



REGISTERED OFFICE: 43 Redmans Road
Mile End
London
E1 3AQ



REGISTERED NUMBER: 00374492 (England and Wales)



ACCOUNTANTS: Somers Baker Prince Kurz LLP
Chartered Accountants
Chancellors House
3 Brampton Lane
London
NW4 4AB



SOLICITORS: Engleharts
Vallance Hall
Hove Street
Hove
East Sussex
BN3 2DE

I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 10,000
Tangible assets 5 12,717 14,340
Investments 6 1 1
32,718 24,341

CURRENT ASSETS
Stocks 7 98,750 104,302
Debtors 8 113,693 153,627
Cash at bank and in hand 49,877 54,563
262,320 312,492
CREDITORS
Amounts falling due within one year 9 166,778 245,956
NET CURRENT ASSETS 95,542 66,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,260

90,877

CREDITORS
Amounts falling due after more than one
year

10

127,506

127,506
NET ASSETS/(LIABILITIES) 754 (36,629 )

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (29,246 ) (66,629 )
SHAREHOLDERS' FUNDS 754 (36,629 )

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:




D R Waterman - Director


I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)

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

1. STATUTORY INFORMATION

I. Waterman (Box Makers) Limited 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 as modified by the revaluation of certain assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at fair value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Plant & Equipment - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 July 2023 10,000
Revaluations 10,000
At 30 June 2024 20,000
NET BOOK VALUE
At 30 June 2024 20,000
At 30 June 2023 10,000

Cost or valuation at 30 June 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2024 20,000

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant & and
leasehold Equipment fittings
£    £    £   
COST
At 1 July 2023
and 30 June 2024 87,515 118,344 16,522
DEPRECIATION
At 1 July 2023 78,084 117,744 12,265
Charge for year - 187 1,436
At 30 June 2024 78,084 117,931 13,701
NET BOOK VALUE
At 30 June 2024 9,431 413 2,821
At 30 June 2023 9,431 600 4,257

I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 44,208 24,945 291,534
DEPRECIATION
At 1 July 2023 44,206 24,895 277,194
Charge for year - - 1,623
At 30 June 2024 44,206 24,895 278,817
NET BOOK VALUE
At 30 June 2024 2 50 12,717
At 30 June 2023 2 50 14,340

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

7. STOCKS
2024 2023
£    £   
Raw materials and consumables 7,750 9,822
Finished goods 91,000 94,480
98,750 104,302

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,642 91,481
Amounts owed by group undertakings 1,517 241
Prepayments and accrued income 30,534 61,905
113,693 153,627

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 75,678 125,188
Amounts owed to group undertakings 59,678 39,686
Social security and other taxes 4,219 20,378
Other creditors 312 312
Accrued expenses 26,891 60,392
166,778 245,956

I. WATERMAN (BOX MAKERS) LIMITED (REGISTERED NUMBER: 00374492)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts due to group undertakings 100,000 100,000
Directors' loan accounts 27,506 27,506
127,506 127,506

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company rented premises from directors, an associated company, family trusts and the company pension scheme, the annual rents totalling £16,000.

12. ULTIMATE CONTROLLING PARTY

The controlling party is D R Waterman.