ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 03089973

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	WATERFORDS (ESTATE AGENTS) LIMITED


WATERFORDS (ESTATE AGENTS) LIMITED

COMPANY INFORMATION

Directors	D Hooper
	M S Hooper


Registered number	03089973


Registered office	35 Plough Road
	Yateley
	England
	GU46 7UW


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


WATERFORDS (ESTATE AGENTS) LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 8


WATERFORDS (ESTATE AGENTS) LIMITED REGISTERED NUMBER:03089973

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		56,870		67,570
Tangible assets	5		35,558		54,667
			92,428		122,237
Current assets
Debtors: amounts falling due within one year	6	93,533		77,735
Cash at bank and in hand		109,619		51,744
		203,152		129,479
Creditors: amounts falling due within one year	7	(226,883)		(224,335)
Net current liabilities			(23,731)		(94,856)
Total assets less current liabilities			68,697		27,381
Creditors: amounts falling due after more than one year	8		(3,667)		(47,667)
Provisions for liabilities
Deferred tax		(4,390)		-
			(4,390)		-
Net assets/(liabilities)			60,640		(20,286)

Capital and reserves
Called up share capital	42,144	42,144
Capital redemption reserve	3,647	3,647
Profit and loss account	14,849	(66,077)
	60,640	(20,286)

Page 1


WATERFORDS (ESTATE AGENTS) LIMITED REGISTERED NUMBER:03089973

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2025.

................................................

D Hooper

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Waterfords Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is shown on the Company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseable future. The directors have prepared projections for the next twelve months and have put in place plans to meet these budgets and drive the company forward. The directors are therefore of the opinion that the company remains a going concern.

2.3

Revenue

Turnover represents amounts receiveable for commission or residential sales and letting management, and other services.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	Over the life of the lease
Plant and machinery	-	33%
Fixtures and fittings	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.13

Client's monies

At 31 March 2025 £nil (2024 - £nil) was held in trust on behalf of their clients and has therefore not been included in these accounts.

Employees

The average monthly number of employees, including directors, during the year was 25 (2024 - 26).

Page 5


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2024	106,997
	At 31 March 2025	106,997
	Amortisation
	At 1 April 2024	39,427
	Charge for the year on owned assets	10,700
	At 31 March 2025	50,127
	Net book value
	At 31 March 2025	56,870
	At 31 March 2024	67,570

Page 6


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	425,858	99,197	107,801	632,856
At 31 March 2025	425,858	99,197	107,801	632,856
Depreciation
At 1 April 2024	381,263	98,266	98,660	578,189
Charge for the year on owned assets	15,230	785	3,094	19,109
At 31 March 2025	396,493	99,051	101,754	597,298
Net book value
At 31 March 2025	29,365	146	6,047	35,558
At 31 March 2024	44,595	931	9,141	54,667

Debtors

					2025	2024
					£	£


Trade debtors	62,827	34,027
Other debtors	30,706	13,046
Deferred taxation	-	30,662
	93,533	77,735

Page 7


WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	44,000	44,000
Trade creditors	14,447	28,517
Corporation tax	52,615	692
Other taxation and social security	99,820	68,255
Other creditors	7,165	74,344
Accruals and deferred income	8,836	8,527
	226,883	224,335

The bank loans of £44,000 (2024 - £44,000) are secured by a debenture holding a fixed and floating charge over the assets of the company.

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	3,667	47,667
	3,667	47,667

The bank loans of £3,667 (2024 - £47,667) are secured by a debenture holding a fixed and floating charge over the assets of the company.

Not later than 1 year	35,000	31,302
Later than 1 year and not later than 5 years	59,486	29,444
	94,486	60,746

Page 8