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Company Registration No. SC614848 (Scotland)
Waterwhelm Ltd Unaudited accounts for the year ended 30 November 2024
Waterwhelm Ltd Unaudited accounts Contents
Page
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Waterwhelm Ltd Company Information for the year ended 30 November 2024
Directors
Dr Alireza Abbassi Monjezi Dr Mark Volanthen Akta Mehendra Raja
Company Number
SC614848 (Scotland)
Registered Office
Suite 2, Orchard Brae House 30 Queensferry Road Edinburgh EH4 2HS United Kingdom
Accountants
FinFlare Limited Mitchell House 5 Mitchell Street Edinburgh Midlothian EH6 7BD
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Waterwhelm Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,866 
1,400 
Current assets
Debtors
52,224 
61,782 
Cash at bank and in hand
413,421 
49,087 
465,645 
110,869 
Creditors: amounts falling due within one year
58,271 
(50,638)
Net current assets
523,916 
60,231 
Total assets less current liabilities
527,782 
61,631 
Creditors: amounts falling due after more than one year
(173,750)
- 
Net assets
354,032 
61,631 
Capital and reserves
Called up share capital
1 
1 
Share premium
528,788 
194,947 
Capital contribution reserve
100,000 
- 
Profit and loss account
(274,757)
(133,317)
Shareholders' funds
354,032 
61,631 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by
Dr Alireza Abbassi Monjezi Director Company Registration No. SC614848
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Waterwhelm Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Waterwhelm Ltd is a private company, limited by shares, registered in Scotland, registration number SC614848. The registered office is Suite 2, Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight-line over 3 years
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Waterwhelm Ltd Notes to the Accounts for the year ended 30 November 2024
Going concern
The financial statements have been prepared on a going concern basis. The Directors have assessed the Company's ability to continue as a going concern basis and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
Taxation
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2023
- 
3,170 
3,170 
Additions
465 
2,970 
3,435 
At 30 November 2024
465 
6,140 
6,605 
Depreciation
At 1 December 2023
- 
1,770 
1,770 
Charge for the year
29 
940 
969 
At 30 November 2024
29 
2,710 
2,739 
Net book value
At 30 November 2024
436 
3,430 
3,866 
At 30 November 2023
- 
1,400 
1,400 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
45,420 
7,887 
Accrued income and prepayments
4,864 
500 
Other debtors
1,940 
53,395 
52,224 
61,782 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
88,453 
2,428 
Taxes and social security
(173,406)
36,036 
Other creditors
2,581 
3,791 
Loans from directors
6,313 
6,313 
Accruals
17,788 
2,070 
(58,271)
50,638 
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Waterwhelm Ltd Notes to the Accounts for the year ended 30 November 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
173,750 
- 
8
Capital contribution reserve
Capital contribution reserve represents £100,000 of advanced share subscriptions to be converted to ordinary shares at a later date.
9
Average number of employees
During the year the average number of employees was 10 (2023: 6).
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