WATERSCORE_LIMITED - Accounts


Company Registration No. 09744949 (England and Wales)
WATERSCORE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
PAGES FOR FILING WITH REGISTRAR
WATERSCORE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WATERSCORE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2019
31 August 2019
- 1 -
2019
2018
Notes
Current assets
Debtors
2
475,298
443,051
Cash at bank and in hand
136
136
475,434
443,187
Creditors: amounts falling due within one year
3
(483,066)
(449,971)
Net current liabilities
(7,632)
(6,784)
Capital and reserves
Called up share capital
4
136
136
Profit and loss reserves
(7,768)
(6,920)
Total equity
(7,632)
(6,784)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 22 May 2020 and are signed on its behalf by:
J A Werner
Director
Company Registration No. 09744949
WATERSCORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
- 2 -
1
Accounting policies
Company information

Waterscore Limited is a private company limited by shares incorporated in England and Wales. The registered office is One London Wall, London, EC2Y 5AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €. The company has chosen its functional currency as Euros as its transactions are carried out in this currency. The share capital of the company has been converted to Euros at the rate of exchange prevailing when the company was incorporated.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has the ongoing support of its directors and shareholders to enable it to meet its workintrueg capital requirements. The going concern basis has therefore been adopted in the preparation of these accounts.

1.3
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

WATERSCORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Debtors
2019
2018
Amounts falling due within one year:
Other debtors
475,298
443,051
3
Creditors: amounts falling due within one year
2019
2018
Other creditors
483,066
449,971
4
Called up share capital
2019
2018
Ordinary share capital
Issued and fully paid
Ordinary shares
136
136
136
136

The share capital of the company is £100 divided into 10,000 Ordinary shares of 1p each converted to Euros at the rate of exchange at the date of incorporation of 24 August 2015.

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