Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mark Hickman 21/07/2017 Steve Frank Jenner 21/07/2017 John Michael Read 21/07/2021 Jeremy Graham Webb 21/07/2017 Elizabeth Ann Woollett 21/07/2021 19 May 2025 The principal activity of the Company during the financial year was that of mortgage brokers for the healthcare sector. 10877062 2024-12-31 10877062 bus:Director1 2024-12-31 10877062 bus:Director2 2024-12-31 10877062 bus:Director3 2024-12-31 10877062 bus:Director4 2024-12-31 10877062 bus:Director5 2024-12-31 10877062 2023-12-31 10877062 core:CurrentFinancialInstruments 2024-12-31 10877062 core:CurrentFinancialInstruments 2023-12-31 10877062 core:Non-currentFinancialInstruments 2024-12-31 10877062 core:Non-currentFinancialInstruments 2023-12-31 10877062 core:ShareCapital 2024-12-31 10877062 core:ShareCapital 2023-12-31 10877062 core:RetainedEarningsAccumulatedLosses 2024-12-31 10877062 core:RetainedEarningsAccumulatedLosses 2023-12-31 10877062 core:Goodwill 2023-12-31 10877062 core:Goodwill 2024-12-31 10877062 core:OfficeEquipment 2023-12-31 10877062 core:OfficeEquipment 2024-12-31 10877062 core:CostValuation 2023-12-31 10877062 core:CostValuation 2024-12-31 10877062 core:CurrentFinancialInstruments 1 2024-12-31 10877062 core:CurrentFinancialInstruments 1 2023-12-31 10877062 bus:OrdinaryShareClass1 2024-12-31 10877062 bus:OrdinaryShareClass2 2024-12-31 10877062 bus:OrdinaryShareClass3 2024-12-31 10877062 bus:OrdinaryShareClass4 2024-12-31 10877062 2024-01-01 2024-12-31 10877062 bus:FilletedAccounts 2024-01-01 2024-12-31 10877062 bus:SmallEntities 2024-01-01 2024-12-31 10877062 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10877062 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10877062 bus:Director1 2024-01-01 2024-12-31 10877062 bus:Director2 2024-01-01 2024-12-31 10877062 bus:Director3 2024-01-01 2024-12-31 10877062 bus:Director4 2024-01-01 2024-12-31 10877062 bus:Director5 2024-01-01 2024-12-31 10877062 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 10877062 core:Goodwill 2024-01-01 2024-12-31 10877062 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 10877062 2023-01-01 2023-12-31 10877062 core:OfficeEquipment 2024-01-01 2024-12-31 10877062 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 10877062 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10877062 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10877062 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 10877062 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 10877062 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 10877062 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 10877062 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 10877062 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10877062 (England and Wales)

WATERINGBURY (MAIDSTONE) LIMITED

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

WATERINGBURY (MAIDSTONE) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

WATERINGBURY (MAIDSTONE) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
WATERINGBURY (MAIDSTONE) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 173,462 231,283
Tangible assets 4 1,501 2,711
Investments 5 1 1
174,964 233,995
Current assets
Debtors 6 6,822 15,878
Cash at bank and in hand 161,814 138,279
168,636 154,157
Creditors: amounts falling due within one year 7 ( 194,017) ( 166,419)
Net current liabilities (25,381) (12,262)
Total assets less current liabilities 149,583 221,733
Creditors: amounts falling due after more than one year 8 ( 3,309) ( 13,426)
Net assets 146,274 208,307
Capital and reserves
Called-up share capital 9 25,000 25,000
Profit and loss account 121,274 183,307
Total shareholders' funds 146,274 208,307

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:

The financial statements of Wateringbury (Maidstone) Limited (registered number: 10877062) were approved and authorised for issue by the Board of Directors on 19 May 2025. They were signed on its behalf by:

Jeremy Graham Webb
Director
WATERINGBURY (MAIDSTONE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
WATERINGBURY (MAIDSTONE) 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

Wateringbury (Maidstone) 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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is Chaucer Business Park, Watery Lane, Kemsing, Sevenoaks, TN15 6PJ.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 578,207 578,207
At 31 December 2024 578,207 578,207
Accumulated amortisation
At 01 January 2024 346,924 346,924
Charge for the financial year 57,821 57,821
At 31 December 2024 404,745 404,745
Net book value
At 31 December 2024 173,462 173,462
At 31 December 2023 231,283 231,283

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 11,123 11,123
At 31 December 2024 11,123 11,123
Accumulated depreciation
At 01 January 2024 8,412 8,412
Charge for the financial year 1,210 1,210
At 31 December 2024 9,622 9,622
Net book value
At 31 December 2024 1,501 1,501
At 31 December 2023 2,711 2,711

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 1 1
At 31 December 2024 1 1
Carrying value at 31 December 2024 1 1
Carrying value at 31 December 2023 1 1

6. Debtors

2024 2023
£ £
Trade debtors 0 1,763
Amounts owed by directors 88 7,240
Prepayments 6,734 6,875
6,822 15,878

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,858 10,740
Trade creditors 0 15,294
Amounts owed to associates 1 1
Amounts owed to connected companies 62,039 0
Amounts owed to directors 4,866 2,324
Accruals 5,113 3,950
Taxation and social security 109,485 64,672
Other creditors 1,655 69,438
194,017 166,419

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

2024 2023
£ £
Bank loans 3,309 13,426

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
16,000 A ordinary shares of £ 1.00 each 16,000 16,000
4,500 B ordinary shares of £ 1.00 each 4,500 4,500
2,250 C ordinary shares of £ 1.00 each 2,250 2,250
2,250 D ordinary shares of £ 1.00 each 2,250 2,250
25,000 25,000

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by/(to) the directors (4,778) 4,916

Interest has not been charged on overdrawn balances below £10,000 and there are no fixed dates for repayment.

During the year, dividends totalling £285,000 (2023: £144,000) were paid to the directors.