Company Registration No. 06510950 (England and Wales)
CONTROL WATER GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
PAGES FOR FILING WITH REGISTRAR
CONTROL WATER GROUP LIMITED
COMPANY INFORMATION
Director
Mr D T Greenfield
Company number
06510950
Registered office
Unit 10 The Towers
Foley Business Park
Kidderminster
Worcestershire
DY11 7PG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
66 Oxford Street
Kidderminster
Worcestershire
DY10 1BL
CONTROL WATER GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CONTROL WATER GROUP LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CONTROL WATER GROUP LIMITED FOR THE YEAR ENDED 30 APRIL 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Control Water Group Limited for the year ended 30 April 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Control Water Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Control Water Group Limited and state those matters that we have agreed to state to the Board of Directors of Control Water Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Control Water Group Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Control Water Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Control Water Group Limited. You consider that Control Water Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Control Water Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
18 August 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CONTROL WATER GROUP LIMITED
BALANCE SHEET
AS AT 30 APRIL 2022
30 April 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,398
53,303
Current assets
Stocks
109,918
96,278
Debtors
4
44,710
90,446
Cash at bank and in hand
85,950
4,449
240,578
191,173
Creditors: amounts falling due within one year
5
(102,636)
(76,620)
Net current assets
137,942
114,553
Total assets less current liabilities
176,340
167,856
Creditors: amounts falling due after more than one year
6
(137,956)
(104,401)
Provisions for liabilities
7
(7,296)
(10,128)
Net assets
31,088
53,327
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
31,087
53,326
Total equity
31,088
53,327

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

For the financial year ended 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

CONTROL WATER GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2022
30 April 2022
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 18 August 2022.
Mr D T Greenfield
Director
Company Registration No. 06510950
CONTROL WATER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
- 4 -
1
Accounting policies
Company information

Control Water Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10 The Towers, Foley Business Park, Kidderminster, Worcestershire, DY11 7PG.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on reducing balance
Office equipment
20% on cost
Motor vehicles
25% on reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

CONTROL WATER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

CONTROL WATER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2021 - 2).

3
Tangible fixed assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2021 and 30 April 2022
8,000
13,296
44,087
65,383
Depreciation and impairment
At 1 May 2021
2,880
7,363
1,837
12,080
Depreciation charged in the year
1,024
3,318
10,563
14,905
At 30 April 2022
3,904
10,681
12,400
26,985
Carrying amount
At 30 April 2022
4,096
2,615
31,687
38,398
At 30 April 2021
5,120
5,933
42,250
53,303

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2022
2021
£
£
Plant and machinery
4,096
5,120
Motor vehicles
31,687
42,250
35,783
47,370
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
27,380
70,361
Other debtors
17,330
20,085
44,710
90,446
CONTROL WATER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 7 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
17,004
9,167
Trade creditors
59,596
32,923
Taxation and social security
10,777
4,926
Other creditors
15,259
29,604
102,636
76,620
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
107,029
40,833
Other creditors
30,927
63,568
137,956
104,401
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
7,296
10,128
8
Secured debts
The following secured debts are included within creditors:
2022
2021
£
£
Hire purchase contracts
39,479
48,031
Bank loans
124,033
50,000
163,512
98,031
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government-backed guarantee, and by way of a fixed and floating charge over the assets of the company.
CONTROL WATER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 8 -
9
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan account
2.00
17,566
42,841
743
(46,000)
15,150
17,566
42,841
743
(46,000)
15,150

The director's loan account was repaid within nine months of the year end.

11
Ultimate controlling party

The ultimate controlling party is Mr D T Greenfield.

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