Company Registration No. 07469910 (England and Wales)
Watermark Stationers Limited
Unaudited accounts
for the year ended 30 April 2020
Watermark Stationers Limited
Statement of financial position
as at 30 April 2020
Cash at bank and in hand
88,729
1,739
Creditors: amounts falling due within one year
(163,289)
(121,047)
Net current assets
21,293
23,089
Called up share capital
150
150
Share premium
29,950
29,950
Profit and loss account
(7,958)
(6,244)
Shareholders' funds
22,142
23,856
For the year ending 30 April 2020 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 director acknowledges his 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 and authorised for issue on 3 March 2021 and were signed on its behalf by
Mr Rohit Dhawan
Director
Company Registration No. 07469910
Watermark Stationers Limited
Notes to the Accounts
for the year ended 30 April 2020
Watermark Stationers Limited is a private company, limited by shares, registered in England and Wales, registration number 07469910. The registered office is 91 Delamere Road, London, W5 3JP.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Watermark Stationers Limited
Notes to the Accounts
for the year ended 30 April 2020
4
Tangible fixed assets
Plant & machinery
Trade debtors
40,877
92,633
Total debtors less than one year
40,877
94,429
Total debtors
40,877
94,429
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
49,652
51,161
Taxes and social security
5,481
-
Other creditors
87,506
54,236
Loans from directors
20,000
15,000
Allotted, called up and fully paid:
150 Ordinary shares of £1 each
150
150
Watermark Stationers Limited
Notes to the Accounts
for the year ended 30 April 2020
8
Operating lease commitments
2020
2019
At 30 April 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
9
Average number of employees
During the year the average number of employees was 1 (2019: 1).