| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| FOR |
| WATERGATE AI LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| FOR |
| WATERGATE AI LIMITED |
| WATERGATE AI LIMITED (REGISTERED NUMBER: 15320638) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WATERGATE AI LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Jardine House |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| WATERGATE AI LIMITED (REGISTERED NUMBER: 15320638) |
| BALANCE SHEET |
| 31 JANUARY 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 were approved by the director and authorised for issue on |
| WATERGATE AI LIMITED (REGISTERED NUMBER: 15320638) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Watergate AI Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Watergate AI Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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 period 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. |
| WATERGATE AI LIMITED (REGISTERED NUMBER: 15320638) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| 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. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 January 2025 |
| AMORTISATION |
| Charge for period |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| WATERGATE AI LIMITED (REGISTERED NUMBER: 15320638) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 30 NOVEMBER 2023 TO 31 JANUARY 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Addition- Goodwill |
| At 31 January 2025 |
| DEPRECIATION |
| Charge for period |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |