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COMPANY REGISTRATION NUMBER: 10625268
AQUASERVE MANAGEMENT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
AQUASERVE MANAGEMENT LTD
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
7,782
9,933
CURRENT ASSETS
Debtors
5
12,389
15,334
Cash at bank and in hand
14,568
6,895
--------
--------
26,957
22,229
CREDITORS: amounts falling due within one year
6
21,123
22,138
--------
--------
NET CURRENT ASSETS
5,834
91
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
13,616
10,024
PROVISIONS
1,478
1,987
--------
--------
NET ASSETS
12,138
8,037
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
12,038
7,937
--------
-------
SHAREHOLDERS FUNDS
12,138
8,037
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AQUASERVE MANAGEMENT LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:
Mr A G McKenna
Director
Company registration number: 10625268
AQUASERVE MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2021
18,884
608
19,492
Additions
727
727
--------
-------
--------
At 31 December 2021
18,884
1,335
20,219
--------
-------
--------
Depreciation
At 1 January 2021
9,154
405
9,559
Charge for the year
2,433
445
2,878
--------
-------
--------
At 31 December 2021
11,587
850
12,437
--------
-------
--------
Carrying amount
At 31 December 2021
7,297
485
7,782
--------
-------
--------
At 31 December 2020
9,730
203
9,933
--------
-------
--------
5. DEBTORS
2021
2020
£
£
Trade debtors
720
3,718
Other debtors
11,669
11,616
--------
--------
12,389
15,334
--------
--------
6. CREDITORS: amounts falling due within one year
2021
2020
£
£
Trade creditors
189
Corporation tax
1,305
94
Social security and other taxes
1,469
2,029
Other creditors
18,349
19,826
--------
--------
21,123
22,138
--------
--------
7. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The director advanced monies to the company. At 31 December 2021 the amount due from the company totalled £17,780 (2020 - £18,998).