WATERCRAFTS PLUMBING LIMITED Accounts

WATERCRAFTS PLUMBING LIMITED Accounts

WATERCRAFTS PLUMBING LIMITED - Company Information

Print Friendly Version

WATERCRAFTS PLUMBING LIMITED Filleted Accounts Cover
WATERCRAFTS PLUMBING LIMITED
Company No. 11835930
Information for Filing with The Registrar
28 February 2022
WATERCRAFTS PLUMBING LIMITED Directors Report Registrar
The Director presents his report and the accounts for the year ended 28 February 2022.
Principal activities
The principal activity of the company during the year under review was plumber.
Director
The Director who served at any time during the year was as follows:
M.T. Siwela
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
M.T. Siwela
Director
25 May 2022
WATERCRAFTS PLUMBING LIMITED Balance Sheet Registrar
at
28 February 2022
Company No.
11835930
Notes
2022
2021
£
£
Fixed assets
Tangible assets
4
10,9048,608
Investments
5
8,8726,871
19,77615,479
Current assets
Debtors
6
11,9028,781
Investments
7
--
Cash at bank and in hand
9,31614,312
21,21823,093
Creditors: Amount falling due within one year
8
(10,758)
(10,249)
Net current assets
10,46012,844
Total assets less current liabilities
30,23628,323
Creditors: Amounts falling due after more than one year
9
(6,284)
(10,000)
Net assets
23,95218,323
Capital and reserves
Called up share capital
100100
Revaluation reserve
10
1,52165
Profit and loss account
10
22,33118,158
Total equity
23,95218,323
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 28 February 2022 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 25 May 2022
And signed on its behalf by:
M.T. Siwela
Director
25 May 2022
WATERCRAFTS PLUMBING LIMITED Notes to the Accounts Registrar
for the year ended 28 February 2022
1
General information
Its registered number is: 11835930
Its registered office is:
International House
64 Nile Street
London
N1 7SR
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from services is recognised when all the following conditions are satisfied:
• the amount of revenue can be measured reliably.
• the stage of completion of the transaction at the end of the reporting period can be measured reliably.
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20% Straight line
Motor vehicles
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Investments
Unlisted and listed investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 March 2021
3,0008,60011,600
Additions
-4,3144,314
At 28 February 2022
3,00012,91415,914
Depreciation
At 1 March 2021
1,2001,7922,992
Charge for the year
6001,4182,018
At 28 February 2022
1,8003,2105,010
Net book values
At 28 February 2022
1,2009,70410,904
At 28 February 2021
1,8006,8088,608
5
Investments
Other investments - Listed
Other investments - Unlisted
Total
£
£
£
Cost or valuation
At 1 March 2021
-9,8459,845
Additions
998-998
Revaluation
-1,4561,456
At 28 February 2022
99811,30112,299
Provisions/Impairment
At 1 March 2021
-2,9742,974
Impairment loss
453-453
At 28 February 2022
4532,9743,427
Net book values
At 28 February 2022
5458,3278,872
At 28 February 2021
-6,8716,871
6
Debtors
2022
2021
£
£
Trade debtors
632-
Other debtors
11,2708,781
11,9028,781
7
Current asset investments
2022
2021
£
£
Market value of listed investments
545-
8
Creditors:
amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
2,222-
Corporation tax
1,2511
Other taxes and social security
13796
Loans from directors
3,07810,152
Other creditors
191-
Accruals and deferred income
3,879-
10,75810,249
9
Creditors:
amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
6,28410,000
6,28410,000
10
Reserves
Revaluation Reserve
Total other reserves
£
£
Movement on revaluation reserve
65
65
At 28 February 2021 and 1 March 2021
65
65
Movement on revaluation reserve
1,456
1,456
At 28 February 2022
1,5211,521
Revaluation reserve - reflects the revaluation of listed and unlisted investments.
Profit and loss account - includes all current and prior period retained profits and losses.
11
Dividends
2022
2021
£
£
Dividends for the period:
Dividends paid in the period
3,757
-
3,757
-
Dividends by type:
Equity dividends
3,757-
3,757
-
WATERCRAFTS PLUMBING LIMITED1183593028 February 202201 March 2021false25 May 2022BTCSoftware AP Solution 2022 9.2.019.2.01true118359302021-03-012022-02-28118359302022-02-28118359302021-02-2811835930core:WithinOneYear2022-02-2811835930core:WithinOneYear2021-02-2811835930core:AfterOneYear2022-02-2811835930core:AfterOneYear2021-02-2811835930core:ShareCapital2022-02-2811835930core:ShareCapital2021-02-2811835930core:RevaluationReserve2022-02-2811835930core:RevaluationReserve2021-02-2811835930core:RetainedEarningsAccumulatedLosses2022-02-2811835930core:RetainedEarningsAccumulatedLosses2021-02-2811835930bus:RegisteredOffice2021-03-012022-02-2811835930core:PlantMachinery2021-03-012022-02-2811835930core:MotorVehicles2021-03-012022-02-28118359302020-03-012021-02-2811835930core:PlantMachinery2021-03-0111835930core:MotorVehicles2021-03-01118359302021-03-0111835930core:PlantMachinery2022-02-2811835930core:MotorVehicles2022-02-2811835930core:PlantMachinery2021-02-2811835930core:MotorVehicles2021-02-2811835930core:CostValuationcore:ListedExchangeTraded2021-03-0111835930core:CostValuationcore:UnlistedNon-exchangeTraded2021-03-0111835930core:CostValuation2021-03-0111835930core:AdditionsToInvestmentscore:ListedExchangeTraded2022-02-2811835930core:AdditionsToInvestmentscore:UnlistedNon-exchangeTraded2022-02-2811835930core:AdditionsToInvestments2022-02-2811835930core:RevaluationsIncreaseDecreaseInInvestmentscore:ListedExchangeTraded2022-02-2811835930core:RevaluationsIncreaseDecreaseInInvestmentscore:UnlistedNon-exchangeTraded2022-02-2811835930core:RevaluationsIncreaseDecreaseInInvestments2022-02-2811835930core:CostValuationcore:ListedExchangeTraded2022-02-2811835930core:CostValuationcore:UnlistedNon-exchangeTraded2022-02-2811835930core:ProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2021-03-0111835930core:ProvisionsForImpairmentInvestmentscore:UnlistedNon-exchangeTraded2021-03-0111835930core:ProvisionsForImpairmentInvestments2021-03-0111835930core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2022-02-2811835930core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentscore:UnlistedNon-exchangeTraded2022-02-2811835930core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-02-2811835930core:ProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2022-02-2811835930core:ProvisionsForImpairmentInvestmentscore:UnlistedNon-exchangeTraded2022-02-2811835930core:ProvisionsForImpairmentInvestments2022-02-2811835930core:ListedExchangeTraded2022-02-2811835930core:UnlistedNon-exchangeTraded2022-02-2811835930core:ListedExchangeTraded2021-02-2811835930core:UnlistedNon-exchangeTraded2021-02-2811835930core:CostValuation2022-02-2811835930core:CostValuation2021-02-2811835930core:RevaluationReservecore:PriorPeriodIncreaseDecrease2020-03-0111835930core:OtherReservesSubtotalcore:PriorPeriodIncreaseDecrease2020-03-0111835930core:RevaluationReserve2021-03-0111835930core:OtherReservesSubtotal2021-03-0111835930core:RevaluationReservecore:PriorPeriodIncreaseDecrease2021-03-0111835930core:OtherReservesSubtotalcore:PriorPeriodIncreaseDecrease2021-03-0111835930core:OtherReservesSubtotal2022-02-2811835930core:RevaluationReserve2021-03-012022-02-2811835930core:RetainedEarningsAccumulatedLosses2021-03-012022-02-2811835930bus:AllOrdinaryShares2021-03-012022-02-2811835930bus:SmallEntities2021-03-012022-02-2811835930bus:FullAccounts2021-03-012022-02-2811835930bus:AuditExempt-NoAccountantsReport2021-03-012022-02-2811835930bus:Director12021-03-012022-02-2811835930bus:PrivateLimitedCompanyLtd2021-03-012022-02-28iso4217:GBPxbrli:pure