Waterhouse Financial Advisers Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09469734

Waterhouse Financial Advisers Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2026

Waterhouse Financial Advisers Ltd

Financial Statements

Year ended 31 March 2026

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Waterhouse Financial Advisers Ltd

Officers and Professional Advisers

The board of directors	Mrs E Dennis
	Mr J Docherty
	Mr L Docherty
	Mr S Knight
	Mr L Ring

Registered office	23 High Street
	Midsomer Norton
	Radstock
	United Kingdom
	BA3 2DR

Accountants	Chalmers HB Ltd
	Chartered accountants
	20 Chamberlain Street
	Wells
	Somerset BA5 2PF

Waterhouse Financial Advisers Ltd

Statement of Financial Position

31 March 2026

	2026		2025
			(restated)
Note	£	£	£

Fixed assets

Tangible assets	6		23,822	36,692

Current assets

Debtors	7	969,843	724,523
Cash at bank and in hand		550,324	597,816
		------------	------------
		1,520,167	1,322,339

Creditors: amounts falling due within one year	8	251,046		252,393
		------------		------------
Net current assets			1,269,121	1,069,946
			------------	------------
Total assets less current liabilities			1,292,943	1,106,638

Creditors: amounts falling due after more than one year	9	–	24,900
		------------	------------
Net assets		1,292,943	1,081,738
		------------	------------

Capital and reserves

Called up share capital	302	302
Profit and loss account	1,292,641	1,081,436
	------------	------------
Shareholders funds	1,292,943	1,081,738
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Waterhouse Financial Advisers Ltd

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 16 September 2026 , and are signed on behalf of the board by:

Mrs E Dennis	Mr J Docherty
Director	Director

Mr L Docherty	Mr S Knight
Director	Director

Mr L Ring
Director

Company registration number: 09469734

Waterhouse Financial Advisers Ltd

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 High Street, Midsomer Norton, Radstock, BA3 2DR, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	on a straight line basis over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	20% reducing balance
Computer equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2025: 13 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2025 (as restated) and 31 March 2026	44,400
	--------
Amortisation
At 1 April 2025 and 31 March 2026	44,400
	--------
Carrying amount
At 31 March 2026	–
	--------
At 31 March 2025	–
	--------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2025 (as restated)	27,490	55,277	33,665	116,432
Additions	889	–	10,495	11,384
Disposals	( 631)	( 50,682)	( 8,056)	( 59,369)
	--------	--------	--------	---------
At 31 March 2026	27,748	4,595	36,104	68,447
	--------	--------	--------	---------
Depreciation
At 1 April 2025	22,523	36,471	20,746	79,740
Charge for the year	1,153	692	5,712	7,557
Disposals	( 537)	( 34,646)	( 7,489)	( 42,672)
	--------	--------	--------	---------
At 31 March 2026	23,139	2,517	18,969	44,625
	--------	--------	--------	---------
Carrying amount
At 31 March 2026	4,609	2,078	17,135	23,822
	--------	--------	--------	---------
At 31 March 2025	4,967	18,806	12,919	36,692
	--------	--------	--------	---------

7. Debtors

	2026	2025
		(restated)
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	944,717	719,351
Other debtors	25,126	5,172
	---------	---------
	969,843	724,523
	---------	---------

8. Creditors: amounts falling due within one year

	2026	2025
		(restated)
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9,445	9,445
Corporation tax	227,523	222,064
Social security and other taxes	8,462	6,063
Other creditors	–	1,500
Other creditors	5,616	13,321
	---------	---------
	251,046	252,393
	---------	---------

9. Creditors: amounts falling due after more than one year

	2026	2025
		(restated)
	£	£
Other creditors	–	24,900
	----	--------

10. Prior period adjustment

Reserves within the group have been restated by an amount of £719,351 to correctly disclose retained profits within the trading company as opposed to the holding company.

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2026	2025
		(restated)
	£	£
Not later than 1 year	23,034	15,675
Later than 1 year and not later than 5 years	39,465	8,662
	--------	--------
	62,499	24,337
	--------	--------

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2026
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr J Docherty	( 112)	–	( 112)
Mr L Ring	191	15,424	15,615
	----	--------	--------
	79	15,424	15,503
	----	--------	--------

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr J Docherty	( 112)	–	( 112)
Mr L Ring	158	33	191
	----	----	----
	46	33	79
	----	----	----