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Registration number: 13198389

Kalm Water Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Kalm Water Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Kalm Water Services Ltd

Company Information

Directors

Mr Matthew Hedges

Mr Jonathan Cullen

Registered office

257 Telford Avenue
Stevenage
Hertfordshire
SG2 0AU

Accountants

Re:Accounts Limited
Chartered Accountants
Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

Kalm Water Services Ltd

(Registration number: 13198389)
Balance Sheet as at 29 February 2024

Note

29 February
2024
£

28 February
2023
£

Current assets

 

Debtors

4

278

-

Cash at bank and in hand

 

2,758

3,164

 

3,036

3,164

Creditors: Amounts falling due within one year

5

(3,620)

(120)

Total assets less current liabilities

 

(584)

3,044

Creditors: Amounts falling due after more than one year

5

-

(2,980)

Net (liabilities)/assets

 

(584)

64

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(586)

62

Shareholders' (deficit)/funds

 

(584)

64

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................
Mr Matthew Hedges
Director

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
257 Telford Avenue
Stevenage
Hertfordshire
SG2 0AU
United Kingdom

These financial statements were authorised for issue by the Board on 12 March 2024.

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 accounts have not been prepared on the going concern basis. This is because the directors are disolving the company.

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 sales/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.

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

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

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Current

Note

29 February
2024
£

28 February
2023
£

Amounts owed by related parties

8

278

-

   

278

-

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

29 February
2024
£

28 February
2023
£

Due within one year

Accruals and deferred income

-

120

Other creditors

3,620

-

3,620

120

Creditors: amounts falling due after more than one year

Note

29 February
2024
£

28 February
2023
£

Due after one year

 

Loans and borrowings

7

-

2,980

6

Share capital

Allotted, called up and fully paid shares

 

29 February
2024

28 February
2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Loans and borrowings

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Loans and borrowings (continued)

29 February
2024
£

28 February
2023
£

Non-current loans and borrowings

Other borrowings

-

2,980

8

Related party transactions

Included within creditors at the year end is £3,620 (2022: £nil). The loan is interest free with no fixed date for repayment.

 

Kalm Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

8

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

4,510

-