Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-3112No description of principal activity2021-01-01false12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03894635 2021-01-01 2021-12-31 03894635 2020-01-01 2020-12-31 03894635 2021-12-31 03894635 2020-12-31 03894635 c:Director2 2021-01-01 2021-12-31 03894635 c:Director3 2021-01-01 2021-12-31 03894635 d:Buildings d:LongLeaseholdAssets 2021-01-01 2021-12-31 03894635 d:Buildings d:LongLeaseholdAssets 2021-12-31 03894635 d:Buildings d:LongLeaseholdAssets 2020-12-31 03894635 d:PlantMachinery 2021-01-01 2021-12-31 03894635 d:PlantMachinery 2021-12-31 03894635 d:PlantMachinery 2020-12-31 03894635 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03894635 d:MotorVehicles 2021-01-01 2021-12-31 03894635 d:MotorVehicles 2021-12-31 03894635 d:MotorVehicles 2020-12-31 03894635 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03894635 d:FurnitureFittings 2021-01-01 2021-12-31 03894635 d:FurnitureFittings 2021-12-31 03894635 d:FurnitureFittings 2020-12-31 03894635 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03894635 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03894635 d:CurrentFinancialInstruments 2021-12-31 03894635 d:CurrentFinancialInstruments 2020-12-31 03894635 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03894635 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03894635 d:ShareCapital 2021-12-31 03894635 d:ShareCapital 2020-12-31 03894635 d:RetainedEarningsAccumulatedLosses 2021-12-31 03894635 d:RetainedEarningsAccumulatedLosses 2020-12-31 03894635 c:OrdinaryShareClass1 2021-01-01 2021-12-31 03894635 c:OrdinaryShareClass1 2021-12-31 03894635 c:OrdinaryShareClass1 2020-12-31 03894635 c:FRS102 2021-01-01 2021-12-31 03894635 c:Audited 2021-01-01 2021-12-31 03894635 c:FullAccounts 2021-01-01 2021-12-31 03894635 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03894635 d:WithinOneYear 2021-12-31 03894635 d:WithinOneYear 2020-12-31 03894635 d:BetweenOneFiveYears 2021-12-31 03894635 d:BetweenOneFiveYears 2020-12-31 03894635 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 03894635 2 2021-01-01 2021-12-31 03894635 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03894635 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 03894635 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 03894635 d:TaxLossesCarry-forwardsDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03894635










WYCOMBE WATER LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
WYCOMBE WATER LIMITED
REGISTERED NUMBER: 03894635

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
111,091
99,067

Current assets
  

Stocks
 5 
571,508
694,390

Debtors: amounts falling due within one year
 6 
746,233
714,234

Cash at bank and in hand
 7 
718,379
1,414,016

  
2,036,120
2,822,640

Creditors: amounts falling due within one year
 8 
(443,070)
(904,166)

Net current assets
  
 
 
1,593,050
 
 
1,918,474

Total assets less current liabilities
  
1,704,141
2,017,541

Provisions for liabilities
  

Deferred tax
 9 
(22,518)
(10,162)

  
 
 
(22,518)
 
 
(10,162)

Net assets
  
1,681,623
2,007,379


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
1,631,623
1,957,379

  
1,681,623
2,007,379


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

S A Sweet
S V Pollet
Director
Director


Date: 25 August 2022
Date25 August 2022

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The company is a private company limited by shares and domiciled in England and Wales, registration number 03894635. The registered office and principal place of business is 6 Premus, Coldharbour Way, Aylesbury, Buckinghamshire, HP19 8AP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Long-term leasehold property
-
10%
straight line
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

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.

Page 3

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2020 - 12).

Page 5

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
211,648
8,505
144,631
47,814
412,598


Additions
17,076
1,695
51,665
2,314
72,750


Disposals
-
-
(75,962)
-
(75,962)



At 31 December 2021

228,724
10,200
120,334
50,128
409,386



Depreciation


At 1 January 2021
183,939
8,505
86,910
34,177
313,531


Charge for the year on owned assets
9,604
170
20,807
3,988
34,569


Disposals
-
-
(49,805)
-
(49,805)



At 31 December 2021

193,543
8,675
57,912
38,165
298,295



Net book value



At 31 December 2021
35,181
1,525
62,422
11,963
111,091



At 31 December 2020
27,709
-
57,721
13,637
99,067

Page 6

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Stocks

2021
2020
£
£

Finished goods and goods for resale
571,508
694,390



6.


Debtors

2021
2020
£
£


Trade debtors
649,149
679,001

Amounts owed by group undertakings
12,691
27,981

Other debtors
953
92

Prepayments and accrued income
52,367
7,160

Tax recoverable
31,073
-

746,233
714,234



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
718,379
1,414,016



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
30,321
43,040

Amounts owed to group undertakings
153,116
375,345

Corporation tax
-
81,860

Other taxation and social security
135,480
314,847

Accruals and deferred income
124,153
89,074

443,070
904,166


Page 7

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Deferred taxation




2021


£






At beginning of year
(10,162)


Charged to profit or loss
(12,356)



At end of year
(22,518)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(26,366)
(15,704)

Short term timing differences
3,848
5,542

(22,518)
(10,162)


10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



50,000 (2020 - 50,000) Ordinary shares of £1.00 each
50,000
50,000



11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independenty administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £18,407 (2020: £47,108). Contributions totalling £2,352 (2020: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
102,000
102,000

Later than 1 year and not later than 5 years
297,500
399,500

399,500
501,500

Page 8

 
WYCOMBE WATER LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

13.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the Group headed by under section 33.1A of FRS102.


14.


Controlling party

Kennet Water Limited is controlled by its immediate and ultimate parent company Pollet Water Group NV, a company incorporated in Belgium with registered office is 14 Brouwerijstraat, 8680 Koekelare, Belgium.
The ultimate controlling party is J N Pollet.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 8 September 2022 by Jonathan Baillie BA (Hons) FCCA ACA (Senior Statutory Auditor) on behalf of James Cowper Kreston.


Page 9