Company Registration No. SC614848 (Scotland)
Waterwhelm Ltd
Unaudited accounts
for the year ended 30 November 2021
Waterwhelm Ltd
Unaudited accounts
Contents
Waterwhelm Ltd
Company Information
for the year ended 30 November 2021
Director
Dr Alireza Abassi Monjezi
Company Number
SC614848 (Scotland)
Registered Office
Suite 2, Orchard Brae House
30 Queensferry Road
Edinburgh
EH4 2HS
United Kingdom
Accountants
FinFlare Limited
Mitchell House
5 Mitchell Street
Edinburgh
Midlothian
EH6 7BD
Waterwhelm Ltd
Statement of financial position
as at 30 November 2021
Cash at bank and in hand
8,390
140,513
Creditors: amounts falling due within one year
31,058
(10,892)
Net current assets
39,448
135,466
Called up share capital
1
1
Share premium
119,998
119,998
Profit and loss account
(79,779)
16,162
Shareholders' funds
40,220
136,161
For the year ending 30 November 2021 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 13 January 2022 and were signed on its behalf by
Dr Alireza Abassi Monjezi
Director
Company Registration No. SC614848
Waterwhelm Ltd
Notes to the Accounts
for the year ended 30 November 2021
Waterwhelm Ltd is a private company, limited by shares, registered in Scotland, registration number SC614848. The registered office is Suite 2, Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS, United Kingdom.
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 financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The accounts are presented in £ sterling.
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:
Computer equipment
Straight-line over 3 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Waterwhelm Ltd
Notes to the Accounts
for the year ended 30 November 2021
The financial statements have been prepared on a going concern basis. The Directors have assessed the Company's ability to continue as a going concern basis and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense 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.
4
Tangible fixed assets
Computer equipment
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
(46,061)
(9,122)
Loans from directors
11,303
6,303
7
Average number of employees
During the year the average number of employees was 4 (2020: 4).
