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Company Registration No. 8951373 (England and Wales)
WATEX LTD Unaudited accounts for the year ended 31 March 2025
WATEX LTD Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
WATEX LTD Company Information for the year ended 31 March 2025
Directors
Matthew Douglas Watson Andrew Bernard Watson Andrea Louise Watson
Company Number
8951373 (England and Wales)
Accountants
SSJ Accountants Ltd 173A High Street Beckenham Kent BR3 1AH
- 3 -
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WATEX LTD for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WATEX LTD for the year ended 31 March 2025 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of WATEX LTD, as a body, in accordance with the terms of our engagement letter dated 2 January 2019. Our work has been undertaken solely to prepare for your approval the accounts of WATEX LTD and state those matters that we have agreed to state to the Board of Directors of WATEX LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WATEX LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that WATEX LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WATEX LTD. You consider that WATEX LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of WATEX LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SSJ Accountants Ltd Chartered Accountants 173A High Street Beckenham Kent BR3 1AH 8 May 2025
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WATEX LTD Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
5
17,855 
20,791 
Current assets
Debtors
6
6,831 
13,743 
Cash at bank and in hand
38,796 
29,213 
45,627 
42,956 
Creditors: amounts falling due within one year
7
23,704 
23,440 
Net current assets
69,331 
66,396 
Total assets less current liabilities
87,186 
87,187 
Creditors: amounts falling due after more than one year
8
(24,521)
(28,435)
Net assets
62,665 
58,752 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
62,565 
58,652 
Shareholders' funds
62,665 
58,752 
For the year ending 31 March 2025 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 10 May 2025 and were signed on its behalf by
Matthew Douglas Watson Director Company Registration No. 8951373
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WATEX LTD Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
WATEX LTD is a private company, limited by shares, registered in England and Wales, registration number 8951373.
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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Plant & machinery
25% Reducing Balance
Motor vehicles
15% Reducing Balance
Computer equipment
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. 20% Straight Line
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2024
20,000 
At 31 March 2025
20,000 
Amortisation
At 1 April 2024
20,000 
At 31 March 2025
20,000 
Net book value
At 31 March 2025
- 
- 6 -
WATEX LTD Notes to the Accounts for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2024
12,961 
26,000 
1,563 
40,524 
Additions
806 
69 
- 
875 
At 31 March 2025
13,767 
26,069 
1,563 
41,399 
Depreciation
At 1 April 2024
8,452 
10,033 
1,248 
19,733 
Charge for the year
1,328 
2,405 
78 
3,811 
At 31 March 2025
9,780 
12,438 
1,326 
23,544 
Net book value
At 31 March 2025
3,987 
13,631 
237 
17,855 
At 31 March 2024
4,509 
15,967 
315 
20,791 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,651 
6,472 
Accrued income and prepayments
2,090 
2,090 
3,741 
8,562 
Amounts falling due after more than one year
Accrued income and prepayments
2,090 
4,181 
Other debtors
1,000 
1,000 
3,090 
5,181 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
4,045 
4,045 
Trade creditors
703 
- 
Taxes and social security
57,904 
43,243 
Other creditors
(22)
(20)
Loans from directors
(87,584)
(71,958)
Accruals
1,250 
1,250 
(23,704)
(23,440)
8
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
24,521 
28,399 
Other creditors
- 
36 
24,521 
28,435 
- 7 -
WATEX LTD Notes to the Accounts for the year ended 31 March 2025
9
Transactions with related parties
During the year Mr M Watson received remuneration of £9,096.00 During the year Mrs Andrea Watson received remuneration of £9,096.00
10
Average number of employees
During the year the average number of employees was 2 (2024: 3).
- 8 -