Waterfront Digital Marketing Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Waterfront Digital Marketing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11028576 . The registered office is C/O Voila Accounting Castle Court, 1 Castle Street, Portchester, Fareham, PO16 9QD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover 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.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	33.3% striaght line basis
Computer Equipment	25% reducing balance basis

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Waterfront Digital Marketing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.6. Trade and other debtors and creditors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2.7. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid

investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of

change in value

2.8. Shares and dividends

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other

resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred

and the time value of money is material, the initial measurement is on a present value basis.

Dividend distribution to the company's shareholders is recognised as a liability in the finanical statements in the reporting period in which the dividends are declared.

2.9. Borrowings

Interest-bearing borrowings are initially recorded at fairvalue, net of transaction costs. Interest-bearing

borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of

transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account

over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable

and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2023	31,900	1,858	14,355	48,113
Additions	-	-	1,176	1,176
Disposals	(31,900 )	-	-	(31,900 )

As at 31 October 2024	-	1,858	15,531	17,389

Depreciation
As at 1 November 2023	7,975	1,858	6,125	15,958
Provided during the period	-	-	2,351	2,351
Disposals	(7,975 )	-	-	(7,975 )

As at 31 October 2024	-	1,858	8,476	10,334

Net Book Value
As at 31 October 2024	-	-	7,055	7,055

As at 1 November 2023	23,925	-	8,230	32,155

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Waterfront Digital Marketing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	15,812	2,026

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	3,174	-
Other creditors	1,095	13,421
Taxation and social security	5,449	-

	9,718	13,421

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	13,381	4,467
Other loans	-	10,000

	13,381	14,467

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	50	50

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 November 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2024
	£	£	£	£	£
Mr Andrew Warner	(10,767 )	97,848	(71,270 )	-	15,811

The above loan is undated, unsecured, interest free and repayable on demand.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		7,055		32,155

			7,055		32,155
CURRENT ASSETS
Debtors	5	15,812		2,026
Cash at bank and in hand		1,685		764

		17,497		2,790
Creditors: Amounts Falling Due Within One Year	6	(9,718 )		(13,421 )

NET CURRENT ASSETS (LIABILITIES)			7,779		(10,631 )

TOTAL ASSETS LESS CURRENT LIABILITIES			14,834		21,524

Creditors: Amounts Falling Due After More Than One Year	7		(13,381 )		(14,467 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,340 )		(4,615 )

NET ASSETS			113		2,442

CAPITAL AND RESERVES
Called up share capital	8		50		50
Profit and Loss Account			63		2,392

SHAREHOLDERS' FUNDS			113		2,442