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REGISTERED NUMBER: 08447627 (England and Wales)














AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

AQUA PASSPORT LIMITED

AQUA PASSPORT LIMITED (REGISTERED NUMBER: 08447627)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AQUA PASSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A Bewley
R J Eady
F G Feeney
J Fletcher
I Jones





SECRETARY: C S Mathias





REGISTERED OFFICE: Wales National Pool Swansea
Sketty Lane
Sketty
Swansea
SA2 8QG





REGISTERED NUMBER: 08447627 (England and Wales)





AUDITORS: Arthur Gait & Company
Chartered Accountants and Statutory Auditors
18 Gold Tops
Newport
South Wales
NP20 5WJ

AQUA PASSPORT LIMITED (REGISTERED NUMBER: 08447627)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Debtors 4 58,068 59,104
Cash at bank 208,427 211,477
266,495 270,581
CREDITORS
Amounts falling due within one year 5 32,334 37,182
NET CURRENT ASSETS 234,161 233,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,161

233,399

CREDITORS
Amounts falling due after more than one
year

6

18,368

25,478
NET ASSETS 215,793 207,921

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 215,792 207,920
215,793 207,921

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 24 November 2023 and were signed on its behalf by:





F G Feeney - Director


AQUA PASSPORT LIMITED (REGISTERED NUMBER: 08447627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Aqua Passport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents income from membership and affiliation. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised in the Income Statement when the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Membership and affiliation income is recognised in the year to which it relates.

Grants
Grants are recognised when the company has entitlement to the income, where grant conditions have been met, the amount of the grant receivable can be measured reliably and there is probability of receipt.

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 loans from related parties.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Bank loans
Bank loans are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.


AQUA PASSPORT LIMITED (REGISTERED NUMBER: 08447627)

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

2. ACCOUNTING POLICIES - continued
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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

Going concern
The company has adequate resources to continue in operational existence for the foreseeable future. As there are no uncertainties about its ability to continue as a going concern, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 40,800 45,600
Other debtors 17,268 13,504
58,068 59,104

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loan 7,110 7,110
Trade creditors 16,801 4,991
Amounts owed to group undertakings 3,582 10,920
Taxation and social security 1,841 11,341
Other creditors 3,000 2,820
32,334 37,182

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loan 18,368 25,478

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christine Pritchard FCA (Senior Statutory Auditor)
for and on behalf of Arthur Gait & Company

AQUA PASSPORT LIMITED (REGISTERED NUMBER: 08447627)

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

8. RELATED PARTY DISCLOSURES

Swim Wales holds 100% of the ordinary share capital of the company and also has certain directors in common. During the year, Swim Wales provided the company with labour and administrative services and incurred various trading expenses on its behalf for which it incurred charges amounting to £20,280 (2022 £20,175). At 31st March 2023 the amount owed by the company to Swim Wales in respect of such transactions, which is included within 'creditors: amounts falling due within one year', was £3,582 (2022 £10,920).