Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31book publishing2022-02-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03863345 2022-02-01 2023-01-31 03863345 2021-02-01 2022-01-31 03863345 2023-01-31 03863345 2022-01-31 03863345 2021-02-01 03863345 c:Director2 2022-02-01 2023-01-31 03863345 d:PlantMachinery 2022-02-01 2023-01-31 03863345 d:PlantMachinery 2023-01-31 03863345 d:PlantMachinery 2022-01-31 03863345 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03863345 d:ComputerEquipment 2022-02-01 2023-01-31 03863345 d:ComputerEquipment 2023-01-31 03863345 d:ComputerEquipment 2022-01-31 03863345 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03863345 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03863345 d:CurrentFinancialInstruments 2023-01-31 03863345 d:CurrentFinancialInstruments 2022-01-31 03863345 d:Non-currentFinancialInstruments 2023-01-31 03863345 d:Non-currentFinancialInstruments 2022-01-31 03863345 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03863345 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03863345 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 03863345 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 03863345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 03863345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 03863345 d:ShareCapital 2023-01-31 03863345 d:ShareCapital 2022-01-31 03863345 d:RetainedEarningsAccumulatedLosses 2023-01-31 03863345 d:RetainedEarningsAccumulatedLosses 2022-01-31 03863345 c:FRS102 2022-02-01 2023-01-31 03863345 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 03863345 c:FullAccounts 2022-02-01 2023-01-31 03863345 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 03863345 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 03863345 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 iso4217:GBP xbrli:pure
Registered number: 03863345






AQUAPRESS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










img00b3.png

 
AQUAPRESS LIMITED
REGISTERED NUMBER:03863345

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,136
4,680

  
3,136
4,680

Current assets
  

Stocks
  
7,007
6,290

Debtors: amounts falling due within one year
 5 
7,759
11,070

Cash at bank and in hand
 6 
22
187

  
14,788
17,547

Creditors: amounts falling due within one year
 7 
(26,388)
(20,656)

Net current liabilities
  
 
 
(11,600)
 
 
(3,109)

Total assets less current liabilities
  
(8,464)
1,571

Creditors: amounts falling due after more than one year
 8 
(4,824)
(6,806)

Provisions for liabilities
  

Deferred tax
 10 
(596)
(889)

  
 
 
(596)
 
 
(889)

Net liabilities
  
(13,884)
(6,124)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(13,885)
(6,125)

  
(13,884)
(6,124)


Page 1

 
AQUAPRESS LIMITED
REGISTERED NUMBER:03863345
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider 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 directors acknowledge their 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 by: 




C M Davey
Director

Date: 23 October 2023

Page 2

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Aquapress Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is Millhouse, 32-38 East Street, Rochford, Essex SS4 1DB.
The principal activity of the company continued to be that of book publishing.

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

Going concern

The financial statements have been prepared on the going concern basis, despite the net liabilities, due to the ongoing support of the directors.

 
2.3

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.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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 4

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.8
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 and machinery
-
33%
reducing balance
Computer 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).

Page 6

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2022
14,294
8,547
22,841



At 31 January 2023

14,294
8,547
22,841



Depreciation


At 1 February 2022
10,433
7,728
18,161


Charge for the year on owned assets
1,274
270
1,544



At 31 January 2023

11,707
7,998
19,705



Net book value



At 31 January 2023
2,587
549
3,136



At 31 January 2022
3,861
819
4,680

Page 7

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
5,317
6,068

Other debtors
456
2,779

Prepayments and accrued income
1,986
2,223

7,759
11,070



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
22
187

Less: bank overdrafts
(6,547)
(7,500)

(6,525)
(7,313)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
6,547
7,500

Bank loans
1,982
1,933

Trade creditors
2,189
6,685

Other taxation and social security
(942)
(931)

Other creditors
12,997
3,758

Accruals and deferred income
3,615
1,711

26,388
20,656



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
4,824
6,806

4,824
6,806


Page 8

 
AQUAPRESS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
1,982
1,933


Amounts falling due 2-5 years

Bank loans
4,824
6,806


6,806
8,739



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(889)
(1,211)


Charged to profit or loss
293
322



At end of year
(596)
(889)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(596)
(889)

(596)
(889)


11.


Rental commitments

The company is bound by a quarter to quarter tenancy of £2,000.


12.


Pension commitments

The company operates a defined contributions pension scheme.  The assets of the scheme are held seperately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £2,160 (2022: £2,160).

Page 9