Company registration number 13734175 (England and Wales)
WATERSPRING VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
WATERSPRING VENTURES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WATERSPRING VENTURES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Tangible assets
3
645
-
0
CURRENT ASSETS
Debtors
4
30,695
25,358
Cash at bank and in hand
80,440
34,809
111,135
60,167
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(268,065)
(17,494)
NET CURRENT (LIABILITIES)/ASSETS
(156,930)
42,673
TOTAL ASSETS LESS CURRENT LIABILITIES
(156,285)
42,673
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
6
(323,427)
(298,901)
NET LIABILITIES
(479,712)
(256,228)
CAPITAL AND RESERVES
Called up share capital
100
100
Share premium account
49,900
49,900
Profit and loss reserves
(529,712)
(306,228)
TOTAL EQUITY
(479,712)
(256,228)

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WATERSPRING VENTURES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 August 2025 and are signed on its behalf by:
Mr S J Huxtable
Director
Company registration number 13734175 (England and Wales)
WATERSPRING VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
ACCOUNTING POLICIES
Company information

Waterspring Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Museum Place, Cardiff, Wales, CF10 3BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts show that the company had net liabilities of £479,712 at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis.

The company has been able to finance its operations largely because of support from the directors. Were this support not available, the company may not be able to continue trading.

The directors are confident that the company will be able to meet its obligations for at least the next twelve months with their continuing support. They therefore consider it appropriate to prepare the accounts on the going concern basis.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for consultancy services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of consultancy services is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT equipment
25% reducing balance
WATERSPRING VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in

profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the iimpairment not previously been recognised.

WATERSPRING VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 5 -
1.7
Retirement benefits

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
1
3
TANGIBLE FIXED ASSETS
IT equipment
£
Cost
At 1 December 2023
-
0
Additions
737
At 30 November 2024
737
Depreciation and impairment
At 1 December 2023
-
0
Depreciation charged in the year
92
At 30 November 2024
92
Carrying amount
At 30 November 2024
645
At 30 November 2023
-
0
WATERSPRING VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
4
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,748
1,400
Other debtors
27,947
23,958
30,695
25,358
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
-
0
1,340
Taxation and social security
4,794
9,961
Other creditors
263,271
6,193
268,065
17,494
6
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
£
£
Other creditors
323,427
298,901
7
EVENTS AFTER THE REPORTING DATE

Included within other creditors falling due within one year is a balance of £176,250 relating to advanced payments for share capital which will be allotted within twelve months of the balance sheet date.

8
DIRECTORS' TRANSACTIONS

Included within creditors due within one year is a balance of £77,024 (2023 - £796) due to a director. This loan is interest free and repayable on demand.

 

Included within creditors due after more than one year is a balance of £260,001 (2023 - £226,251) due to directors. Interest is accruing on these loans at a rate of 8% per annum.

2024-11-302023-12-01falsefalsefalse21 August 2025CCH SoftwareCCH Accounts Production 2025.100The principal activity is that of providing management consultancy services.
Mr S J HuxtableMr M J OwensMr M A HuxtableMr D H Evans
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