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REGISTERED NUMBER: 15320638 (England and Wales)














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: K Zajac





REGISTERED OFFICE: 5 Jardine House
Bessborough Road
Harrow
HA1 3EX





REGISTERED NUMBER: 15320638 (England and Wales)





ACCOUNTANTS: David Simon Limited
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 22,065
Tangible assets 5 10,192
Investments 6 47,000
79,257

CURRENT ASSETS
Stocks 113,120
Debtors 7 665,222
Cash at bank 20,574
798,916
CREDITORS
Amounts falling due within one year 8 333,110
NET CURRENT ASSETS 465,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,063

CAPITAL AND RESERVES
Called up share capital 2
Share premium 1,865,673
Retained earnings (1,320,612 )
SHAREHOLDERS' FUNDS 545,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 31 July 2025 and were signed by:





K Zajac - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 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 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 8 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
Additions 5,000 19,517 24,517
At 31 January 2025 5,000 19,517 24,517
AMORTISATION
Charge for period 500 1,952 2,452
At 31 January 2025 500 1,952 2,452
NET BOOK VALUE
At 31 January 2025 4,500 17,565 22,065

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 13,589
At 31 January 2025 13,589
DEPRECIATION
Charge for period 3,397
At 31 January 2025 3,397
NET BOOK VALUE
At 31 January 2025 10,192

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 47,000
At 31 January 2025 47,000
NET BOOK VALUE
At 31 January 2025 47,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 434,018
Other debtors 231,204
665,222

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 11,722
Taxation and social security 63,400
Other creditors 257,988
333,110