Trafford Water Ltd 11693498 false 2021-08-01 2022-07-31 2022-07-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 11693498 2021-08-01 2022-07-31 11693498 2022-07-31 11693498 core:RetainedEarningsAccumulatedLosses 2022-07-31 11693498 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 11693498 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 11693498 bus:SmallEntities 2021-08-01 2022-07-31 11693498 bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 11693498 bus:FullAccounts 2021-08-01 2022-07-31 11693498 bus:SmallCompaniesRegimeForAccounts 2021-08-01 2022-07-31 11693498 bus:RegisteredOffice 2021-08-01 2022-07-31 11693498 bus:Director1 2021-08-01 2022-07-31 11693498 bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 11693498 countries:EnglandWales 2021-08-01 2022-07-31 11693498 2020-08-01 2021-07-31 11693498 2021-07-31 11693498 core:RetainedEarningsAccumulatedLosses 2021-07-31 11693498 core:CurrentFinancialInstruments core:WithinOneYear 2021-07-31 11693498 core:Non-currentFinancialInstruments core:AfterOneYear 2021-07-31 iso4217:GBP xbrli:pure

Registration number: 11693498

Trafford Water Ltd



Filleted Unaudited Financial Statements

for the Year Ended 31 July 2022

 

Trafford Water Ltd

 

(Registration number: 11693498)
Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Current assets

 

Stocks

4

-

950,057

Debtors

5

420,251

238,692

Cash at bank and in hand

 

309,261

226,457

 

729,512

1,415,206

Creditors: Amounts falling due within one year

6

(682,718)

(1,353,993)

Total assets less current liabilities

 

46,794

61,213

Creditors: Amounts falling due after more than one year

6

(48,382)

(49,642)

Net (liabilities)/assets

 

(1,588)

11,571

Capital and reserves

 

Profit and loss account

(1,588)

11,571

Total equity

 

(1,588)

11,571

For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 October 2023
 

.........................................
Mr P Zhao
Director

 

Trafford Water Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor Parkgates
Bury New Road
Manchester
M25 0TL
United Kingdom

These financial statements were authorised for issue by the director on 27 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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 taxable income.

 

Trafford Water Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Trafford Water Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Stocks

2022
£

2021
£

Other inventories

-

950,057

5

Debtors

Current

Note

2022
£

2021
£

Trade debtors

 

(1,554)

(11,308)

Amounts owed by related parties

116,090

-

Other debtors

 

305,715

250,000

   

420,251

238,692

 

Trafford Water Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank borrowings

-

555,936

Trade creditors

 

2,403

2,403

Amounts owed to group undertakings and undertakings in which the company has a participating interest

677,772

793,234

Accruals and deferred income

 

2,543

2,295

Other creditors

 

-

125

 

682,718

1,353,993

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

48,382

49,642