Waterworld Sports Ltd

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

Registered number: 13868184

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		27,459		30,510

			27,459		30,510
CURRENT ASSETS
Stocks	6	75,000		91,792
Debtors	7	2,800		6,048
Cash at bank and in hand		452		4,806

		78,252		102,646
Creditors: Amounts Falling Due Within One Year	8	(156,633 )		(158,997 )

NET CURRENT ASSETS (LIABILITIES)			(78,381 )		(56,351 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(50,922 )		(25,841 )

Creditors: Amounts Falling Due After More Than One Year	9		-		(14,781 )

NET LIABILITIES			(50,922 )		(40,622 )

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			(50,924 )		(40,624 )

SHAREHOLDERS' FUNDS			(50,922)		(40,622)

Page 1

Page 2

Waterworld Sports Ltd

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Russell Scheef

Director

07/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Waterworld Sports Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13868184 . The registered office is 100 Ossulton Way, East Finchley, London, N2 0LD.

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. 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.

2.3. 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:

Plant & Machinery

10% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

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

Taxation for the year 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.

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 year 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.

Page 3

Page 4

Waterworld Sports Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.7. Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Prior Period Adjustment

The director considered that the previous accounting policies in respect of capitalising and depreciating income generating plant and machinery for rehire was not reflective of the actual position and has adjusted for that in these financial statements.

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 February 2024	36,900

As at 31 January 2025	36,900

Depreciation
As at 1 February 2024	6,390
Provided during the period	3,051

As at 31 January 2025	9,441

Net Book Value
As at 31 January 2025	27,459

As at 1 February 2024	30,510

6. Stocks

	2025	2024 as restated
	£	£
Finished goods	75,000	91,792

7. Debtors

	2025	2024 as restated
	£	£
Due within one year
Other debtors	2,800	6,048

8. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	46,560	60,208
Other loans	18,444	2,740
Other creditors	72,424	80,423
Taxation and social security	19,205	15,626

	156,633	158,997

Page 4

Page 5

Waterworld Sports Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

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

	2025	2024 as restated
	£	£
Other loans	-	14,781

10. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	2	2

Page 5