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REGISTERED NUMBER: 06933955 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

AQUAGEM HEATING LIMITED

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AQUAGEM HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTORS: Mrs C Powis
A F Powis
S J Eggleton





SECRETARY: Mrs C Powis





REGISTERED OFFICE: Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA





REGISTERED NUMBER: 06933955 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 5 50,516 19,518

Current assets
Stocks 74,100 73,400
Debtors 6 514,234 361,783
Prepayments and accrued income 12,170 18,686
Cash at bank 383,782 455,059
984,286 908,928
Creditors
Amounts falling due within one year 7 (399,208 ) (287,798 )
Net current assets 585,078 621,130
Total assets less current liabilities 635,594 640,648

Creditors
Amounts falling due after more than one
year

8

(24,002

)

(72,960

)

Provisions for liabilities (100,637 ) (97,656 )

Accruals and deferred income (330 ) (3,800 )
Net assets 510,625 466,232

Capital and reserves
Called up share capital 100 100
Retained earnings 510,525 466,132
Shareholders' funds 510,625 466,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

STATEMENT OF FINANCIAL POSITION - continued
31ST JANUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th October 2023 and were signed on its behalf by:




Mrs C Powis - Director



A F Powis - Director


AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023

1. STATUTORY INFORMATION

Aquagem Heating Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06933955 and the registered office address is Newport House, Newport Road, Stafford, Staffordshire, ST16 1DA.

The principal activity of the company is that of a plumbing and heating service.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Functional currency
The financial statements are prepared in sterling. The functional currency of the company is sterling.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Hire purchase and leasing 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.

Provisions
A provision for rectification costs/liquidated damages has been included in the accounts.

Amounts recoverable on contracts
Work in progress is accounted for as defined in UTIF 40 as issued by the ASB. It is the company policy to recognise revenue over the time of a contract as it progresses with reference to the value of the work performed and with regard to contractual obligations. Work in progress is shown as "amounts recoverable on contracts".

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st February 2022 - 26,109 -
Additions 10,905 21,939 6,145
At 31st January 2023 10,905 48,048 6,145
DEPRECIATION
At 1st February 2022 - 21,818 -
Charge for year 1,402 3,360 342
Eliminated on disposal - - -
At 31st January 2023 1,402 25,178 342
NET BOOK VALUE
At 31st January 2023 9,503 22,870 5,803
At 31st January 2022 - 4,291 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2022 47,820 4,656 78,585
Additions - 1,143 40,132
At 31st January 2023 47,820 5,799 118,717
DEPRECIATION
At 1st February 2022 32,593 4,656 59,067
Charge for year - 223 5,327
Eliminated on disposal 3,807 - 3,807
At 31st January 2023 36,400 4,879 68,201
NET BOOK VALUE
At 31st January 2023 11,420 920 50,516
At 31st January 2022 15,227 - 19,518

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 128,899 61,562
Amounts recoverable on contract 70,275 73,222
Other debtors 225,844 140,259
425,018 275,043

Amounts falling due after more than one year:
Trade debtors 89,216 86,740

Aggregate amounts 514,234 361,783

AQUAGEM HEATING LIMITED (REGISTERED NUMBER: 06933955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,295 9,022
Trade creditors 284,616 186,570
Taxation and social security 57,629 44,414
Other creditors 47,668 47,792
399,208 287,798

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,002 35,097
Other creditors - 37,863
24,002 72,960

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £131,381 of which £93,266 is due after 12 months (2022 - £39,865).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2023 and 31st January 2022:

2023 2022
£    £   
Mrs C Powis and A F Powis
Balance outstanding at start of year 115,636 90,118
Amounts advanced 134,460 115,518
Amounts repaid (116,000 ) (90,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 134,096 115,636

S J Eggleton
Balance outstanding at start of year 24,623 -
Amounts advanced - 26,422
Amounts repaid - (1,799 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,623 24,623

The directors loan account was repaid in full within 9 months of the year end