General Information
Watermead Stay Ltd is a private company, limited by shares, registered in England and Wales, registration number 14897105, registration address Watermead House, 83 High Street, Chard, TA20 1QT.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and fittings |
15% reducing balance |
| Computer equipment |
3 years straight line |
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2024 : 3).
|
| 3. |
Indebtedness
Included in Creditors: amounts falling due within one year is a secured loan of £5,336. Included in Creditors: amounts falling due after more than one year is a secured loan of £167,936 (2024 £189,328).
|
| 4. |
Intangible fixed assets
| Cost |
Other intangible assets |
|
Total |
| |
£ |
|
£ |
| At 01 September 2024 |
60,000 |
|
60,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 August 2025 |
60,000 |
|
60,000 |
| Amortisation |
| At 01 September 2024 |
12,000 |
|
12,000 |
| Charge for year |
12,000 |
|
12,000 |
| On disposals |
- |
|
- |
| At 31 August 2025 |
24,000 |
|
24,000 |
| Net book values |
| At 31 August 2025 |
36,000 |
|
36,000 |
| At 31 August 2024 |
48,000 |
|
48,000 |
|
| 5. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 September 2024 |
726,595 |
|
66,289 |
|
792,884 |
| Additions |
83,118 |
|
34,627 |
|
117,745 |
| Disposals |
- |
|
- |
|
- |
| At 31 August 2025 |
809,713 |
|
100,916 |
|
910,629 |
| Depreciation |
| At 01 September 2024 |
- |
|
10,688 |
|
10,688 |
| Charge for year |
- |
|
15,714 |
|
15,714 |
| On disposals |
- |
|
- |
|
- |
| At 31 August 2025 |
- |
|
26,402 |
|
26,402 |
| Net book values |
| Closing balance as at 31 August 2025 |
809,713 |
|
74,514 |
|
884,227 |
| Opening balance as at 01 September 2024 |
726,595 |
|
55,601 |
|
782,196 |
|
| 6. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
450 |
|
450 |
|
450 |
|
450 |
|
| 7. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
1,265 |
|
1,922 |
| Prepayments & Accrued Income |
1,324 |
|
1,129 |
|
2,589 |
|
3,051 |
|
| 8. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
390 |
|
6,624 |
| Bank Loans & Overdrafts |
5,336 |
|
5,336 |
| Taxation and Social Security |
5,461 |
|
3,100 |
| Other Creditors |
833,290 |
|
661,802 |
|
844,477 |
|
676,862 |
|
| 9. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
167,936 |
|
189,328 |
|
167,936 |
|
189,328 |
|
| 10. |
Related Party Transactions
Included in Creditors: amounts falling due within one year is an amount of £830,217 (2024 £660,217) owed to the directors of the company.
|
3
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