2023-09-012024-08-312024-08-31false12843941WATT HEALTH 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WATT HEALTH LTD

Registered Number
12843941
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

WATT HEALTH LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

WATT, Nicholas George
WATT, Stephanie Leanne

Registered Address

40 High Street
West End
Southampton
SO30 3DR

Registered Number

12843941 (England and Wales)
WATT HEALTH LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets366,85074,895
66,85074,895
Current assets
Debtors497,077139,524
Cash at bank and on hand40,05531,184
137,132170,708
Creditors amounts falling due within one year5(86,367)(116,710)
Net current assets (liabilities)50,76553,998
Total assets less current liabilities117,615128,893
Creditors amounts falling due after one year6(38,945)(42,735)
Net assets78,67086,158
Capital and reserves
Called up share capital22
Profit and loss account78,66886,156
Shareholders' funds78,67086,158
The financial statements were approved and authorised for issue by the Board of Directors on 25 April 2025, and are signed on its behalf by:
WATT, Nicholas George
Director
Registered Company No. 12843941
WATT HEALTH LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery7
Office Equipment5
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 September 2369,96112,64382,604
Additions-5,2855,285
At 31 August 2469,96117,92887,889
Depreciation and impairment
At 01 September 236,0051,7047,709
Charge for year10,4982,83213,330
At 31 August 2416,5034,53621,039
Net book value
At 31 August 2453,45813,39266,850
At 31 August 2363,95610,93974,895
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables96,997139,444
Other debtors8080
Total97,077139,524
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts67,818116,110
Taxation and social security15,549-
Accrued liabilities and deferred income3,000600
Total86,367116,710
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts38,94542,735
Total38,94542,735
7.Related party transactions
As of the 31st August 2024 the below amounts are owed from Watt Health Holdings Ltd £96,997 (2023: £138,647) As of the 31st August 2024 the below amounts are owed to the directors, Mr & Mrs Watt. £67,818 (2023: £116,110)