Registered number
03149751
Air-Water Treatments Limited
Report and Accounts
31 March 2023
Air-Water Treatments Limited
Registered number: 03149751
Balance Sheet
as at 31 March 2023
31st March 31st March
Notes 2023 2022
Fixed assets £ £
Tangible assets 3 28,097 37,096
Current assets
Stocks 463,479 490,957
Debtors 4 908,206 703,622
Investments held as current assets 5 19,280 38,890
Cash at bank and in hand 156,003 415,670
1,546,968 1,649,139
Creditors: amounts falling due within one year 6 (359,402) (389,022)
Net current assets 1,187,566 1,260,117
Total assets less current liabilities 1,215,663 1,297,213
Creditors: amounts falling due after more than one year 7 (11,547) (15,492)
Provisions for liabilities 8 (4,659) (4,172)
Net assets 1,199,457 1,277,549
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,199,357 1,277,449
Shareholders' funds 1,199,457 1,277,549
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr JJ Kowalewski
Director
Approved by the board on 5 June 2023
Air-Water Treatments Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
31st March 31st March
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 22
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 134,719 54,297 189,016
Additions 6,506 - 6,506
At 31 March 2023 141,225 54,297 195,522
Depreciation
At 1 April 2022 122,827 29,093 151,920
Charge for the year 4,796 10,709 15,505
At 31 March 2023 127,623 39,802 167,425
Net book value
At 31 March 2023 13,602 14,495 28,097
At 31 March 2022 11,892 25,204 37,096
31st March 31st March
4 Debtors 2023 2022
£ £
Trade debtors 645,329 483,879
Amount owed by connected undertakings 191,983 148,618
Prepaid expenses 70,894 53,875
Other debtors - 17,250
908,206 703,622
31st March 31st March
5 Investments held as current assets 2023 2022
£ £
Unlisted investments
Fair value
At 1 April 2022 38,890 40,480
Disposals (19,610) (1,590)
At 31 March 2023 19,280 38,890
6 Creditors: amounts falling due within one year
Obligations under finance lease and hire purchase contracts 3,945 9,283
Trade creditors 126,833 191,223
Other taxation and social security costs 202,193 164,304
Accrued expenses 26,431 24,212
359,402 389,022
7 Creditors: amounts falling due after more than one year
Obligations under finance lease and hire purchase contracts 11,547 15,492
11,547 15,492
8 Provision for liabilities
Deferred taxation:
Accelerated capital allowances
At 1 April 2022 4,172 5,094
Deferred tax charge in profit and loss account 487 (922)
At 31 March 2023 4,659 4,172
9 Other financial commitments
Total future minimum payments under non-cancellable operating leases 14,916 22,771
31st March 31st March
10 Related party transactions 2023 2022
£ £
Roxchem Limited
Connected company
Mr JP Naylor and Mr JJ Kowalewski, directors, held the beneficial
interest in this business throughout the year and the previous year.
Amount owed by related party 106,983 63,618
Air Water Investments Limited
Connected company
Mr JP Naylor and Mr JJ Kowalewski, directors, held the beneficial
interest in this business throughout the year and the previous year.
Amount owed by related party 85,000 85,000
Total 191,983 148,618
11 Other information
Air-Water Treatments Limited is a private company limited by shares and incorporated in England and Wales. The registered office is:
33a Castle Close
Hawarden
Deeside
CH5 3PP
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