Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31true2022-06-01falseNo description of principal activity55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 5450113 2022-06-01 2023-05-31 5450113 2021-06-01 2022-05-31 5450113 2023-05-31 5450113 2022-05-31 5450113 c:Director1 2022-06-01 2023-05-31 5450113 d:PlantMachinery 2022-06-01 2023-05-31 5450113 d:PlantMachinery 2023-05-31 5450113 d:PlantMachinery 2022-05-31 5450113 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 5450113 d:MotorVehicles 2022-06-01 2023-05-31 5450113 d:MotorVehicles 2023-05-31 5450113 d:MotorVehicles 2022-05-31 5450113 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 5450113 d:FurnitureFittings 2022-06-01 2023-05-31 5450113 d:FurnitureFittings 2023-05-31 5450113 d:FurnitureFittings 2022-05-31 5450113 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 5450113 d:OfficeEquipment 2022-06-01 2023-05-31 5450113 d:OfficeEquipment 2023-05-31 5450113 d:OfficeEquipment 2022-05-31 5450113 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 5450113 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 5450113 d:CurrentFinancialInstruments 2023-05-31 5450113 d:CurrentFinancialInstruments 2022-05-31 5450113 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 5450113 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 5450113 d:ShareCapital 2023-05-31 5450113 d:ShareCapital 2022-05-31 5450113 d:RetainedEarningsAccumulatedLosses 2023-05-31 5450113 d:RetainedEarningsAccumulatedLosses 2022-05-31 5450113 c:FRS102 2022-06-01 2023-05-31 5450113 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 5450113 c:FullAccounts 2022-06-01 2023-05-31 5450113 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 5450113 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 5450113 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 5450113 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 5450113










WATER MIST & FIRE ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023



 
WATER MIST & FIRE ENGINEERING LIMITED
REGISTERED NUMBER: 5450113

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
128,922
85,490

  
128,922
85,490

Current assets
  

Stocks
  
7,400
6,850

Debtors: amounts falling due within one year
 5 
172,406
180,094

Cash at bank and in hand
  
328,354
347,368

  
508,160
534,312

Creditors: amounts falling due within one year
 6 
(156,918)
(115,924)

Net current assets
  
 
 
351,242
 
 
418,388

Total assets less current liabilities
  
480,164
503,878

Provisions for liabilities
  

Deferred tax
 7 
(29,549)
(17,237)

  
 
 
(29,549)
 
 
(17,237)

Net assets
  
450,615
486,641


Capital and reserves
  

Called up share capital 
  
21
21

Profit and loss account
  
450,594
486,620

  
450,615
486,641


Page 1

 
WATER MIST & FIRE ENGINEERING LIMITED
REGISTERED NUMBER: 5450113
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 income and retained earnings 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 on 13 October 2023.




................................................
A Sykes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies

 
1.1

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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies (continued)

 
1.3

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

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.

 
1.5

Interest income

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

 
1.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies (continued)

 
1.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

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 reporting 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 reporting 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 reporting date.

 
1.9

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 5

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies (continued)


1.9
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 a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures & fittings
-
20%
Reducing balance
Office equipment
-
33%
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.

 
1.10

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 reporting 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.

 
1.11

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.

 
1.12

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.

 
1.13

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 6

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies (continued)

 
1.14

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 reporting 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 Statement of financial position.

 
1.15

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 Statement of financial position 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the
Page 7

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.Accounting policies (continued)


1.15
Financial instruments (continued)

payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.16

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.


General information

Water Mist & Fire Engineering Limited is a private company, limited by shares and registered in England.
Its registered number is: 05450113
Its Registered Office is: 
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 8

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2022
43,439
140,221
12,785
16,196
212,641


Additions
15,567
72,574
-
7,067
95,208


Disposals
-
(16,875)
-
-
(16,875)



At 31 May 2023

59,006
195,920
12,785
23,263
290,974



Depreciation


At 1 June 2022
27,444
79,952
6,569
13,189
127,154


Charge for the year on owned assets
7,891
31,431
2,008
3,325
44,655


Disposals
-
(9,756)
-
-
(9,756)



At 31 May 2023

35,335
101,627
8,577
16,514
162,053



Net book value



At 31 May 2023
23,671
94,293
4,208
6,749
128,921



At 31 May 2022
15,995
60,270
6,217
3,008
85,490

Page 9

 
WATER MIST & FIRE ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
157,734
139,252

Amounts owed by related parties
924
924

Other debtors
-
23,036

Prepayments and accrued income
13,748
16,882

172,406
180,094



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,734
12,073

Corporation tax
1,977
36,983

Other taxation and social security
111,172
46,140

Other creditors
28,033
16,450

Accruals and deferred income
5,002
4,278

156,918
115,924



7.


Deferred taxation




2023


£






At beginning of year
(17,237)


Charged to profit or loss
(12,312)



At end of year
(29,549)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(29,549)
(17,237)

(29,549)
(17,237)

 
Page 10