REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
FOR |
ZEROWATER UK LTD |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
FOR |
ZEROWATER UK LTD |
ZEROWATER UK LTD (REGISTERED NUMBER: 13658207) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ZEROWATER UK LTD |
COMPANY INFORMATION |
FOR THE PERIOD 4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
54 Thorpe Road |
Norwich |
Norfolk |
NR1 1RY |
ZEROWATER UK LTD (REGISTERED NUMBER: 13658207) |
BALANCE SHEET |
31ST DECEMBER 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ZEROWATER UK LTD (REGISTERED NUMBER: 13658207) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Zerowater UK Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the time of signing the financial statements, the Directors have considered the continued economic uncertainty and its impact on the company. They have prepared forecasts and considered the financial strength of the company and the wider group. |
Based on this, the Directors have concluded that they have a reasonable expectation that the company will continue for the foreseeable future, and at least twelve months from the date of signing these accounts. They therefore believe it is appropriate to prepare the financial statements on a going concern basis. |
Turnover |
Turnover is measured at 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 |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods. |
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. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. |
Depreciation is provided on the following basis: |
Fixtures and fittings - 25% straight line |
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 the Statement of Income and retained earnings. |
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 calculated using the first in, first out method. |
ZEROWATER UK LTD (REGISTERED NUMBER: 13658207) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
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. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Operating lease commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
ZEROWATER UK LTD (REGISTERED NUMBER: 13658207) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4TH OCTOBER 2021 TO 31ST DECEMBER 2022 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
Additions |
At 31st December 2022 |
DEPRECIATION |
Charge for period |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The auditors' report on these financial statements was unqualified and there were no matters to which the auditor drew attention by way of emphasis. |
The auditors' report was signed on 20.10.2023 by on behalf of BW Audit Ltd. |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
9. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Culligan Shared Services (UK) Limited (formerly AI Aqua UK Limited). The parent undertaking of the largest and smallest group, which includes this company and for which group accounts are prepared, is Osmosis Holdings, LP. The registered office address is: 4th Floor, Harbour Place, 103 South Church Street, PO Box 10240, Grand Cayman KY1-1002, Cayman Islands. |