Waterloo Incubator Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10054109 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Waterloo Incubator Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

I K Clark

J Rushton

H R Santer

B A Stephenson

REGISTERED OFFICE:

Build Studios

203 Westminster Bridge Road

London

SE1 7FR

REGISTERED NUMBER:

10054109 (England and Wales)

ACCOUNTANTS:

Kingsley Maybrook Limited

Lawford House

4 Albert Place

London

N3 1QB

FIXED ASSETS

Intangible assets

4

9,501

13,109

Tangible assets

5

54,850

59,985

64,351

73,094

CURRENT ASSETS

Debtors

6

11,224

30,374

Cash at bank

37,868

16,788

49,092

47,162

CREDITORS

Amounts falling due within one year

7

11,973

25,049

NET CURRENT ASSETS

37,119

22,113

TOTAL ASSETS LESS CURRENT LIABILITIES

101,470

95,207

CREDITORS

Amounts falling due after more than one year

8

88,942

92,500

NET ASSETS

12,528

2,707

RESERVES

Income and expenditure account

12,528

2,707

12,528

2,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 October 2018 and were signed on its behalf by:

H R Santer - Director

1.	STATUTORY INFORMATION

Waterloo Incubator Company Limited is a private company, limited by guarantee , registered

in England and Wales. The company's registered number and registered office address can

be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

25% on cost and 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

and 31 March 2018

14,434

AMORTISATION

At 1 April 2017

1,325

Charge for year

3,608

At 31 March 2018

4,933

NET BOOK VALUE

At 31 March 2018

9,501

At 31 March 2017

13,109

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

9,588

54,387

63,975

Additions

5,257

2,724

7,981

At 31 March 2018

14,845

57,111

71,956

DEPRECIATION

At 1 April 2017

1,363

2,627

3,990

Charge for year

2,005

11,111

13,116

At 31 March 2018

3,368

13,738

17,106

NET BOOK VALUE

At 31 March 2018

11,477

43,373

54,850

At 31 March 2017

8,225

51,760

59,985

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

1,398

450

Other debtors

9,826

29,924

11,224

30,374

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

4,485

22,998

Taxation and social security

7,488

951

Other creditors

-

1,100

11,973

25,049

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

88,942

92,500

9.	RELATED PARTY DISCLOSURES

There is a Loan to We are Waterloo Ltd of £92,500. During the year repayments were made

of £3,558. At the balance sheet date £88,942 (2017 £92,500) was outstanding.

There is an intercompany account with We are Waterloo Ltd which has a small number of

transactions. At the balance sheet date the balance outstanding was £-2,412 (2017

£9,439.83).

10.	ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be We Are Waterloo Ltd (04381162)

by reason of the fact that the board of We Are Waterloo Ltd nominate and appoint the

directors.

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2018 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Kingsley Maybrook Limited

Lawford House

4 Albert Place

London

N3 1QB

4 October 2018