Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activityfalse2022-04-01true55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07527221 2022-04-01 2023-03-31 07527221 2021-04-01 2022-03-31 07527221 2023-03-31 07527221 2022-03-31 07527221 c:Director1 2022-04-01 2023-03-31 07527221 c:Director3 2022-04-01 2023-03-31 07527221 c:RegisteredOffice 2022-04-01 2023-03-31 07527221 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 07527221 d:Buildings d:ShortLeaseholdAssets 2023-03-31 07527221 d:Buildings d:ShortLeaseholdAssets 2022-03-31 07527221 d:PlantMachinery 2022-04-01 2023-03-31 07527221 d:PlantMachinery 2023-03-31 07527221 d:PlantMachinery 2022-03-31 07527221 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07527221 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07527221 d:Goodwill 2022-04-01 2023-03-31 07527221 d:Goodwill 2023-03-31 07527221 d:Goodwill 2022-03-31 07527221 d:CurrentFinancialInstruments 2023-03-31 07527221 d:CurrentFinancialInstruments 2022-03-31 07527221 d:Non-currentFinancialInstruments 2023-03-31 07527221 d:Non-currentFinancialInstruments 2022-03-31 07527221 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07527221 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07527221 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07527221 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07527221 d:ShareCapital 2023-03-31 07527221 d:ShareCapital 2022-03-31 07527221 d:RetainedEarningsAccumulatedLosses 2023-03-31 07527221 d:RetainedEarningsAccumulatedLosses 2022-03-31 07527221 c:FRS102 2022-04-01 2023-03-31 07527221 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07527221 c:FullAccounts 2022-04-01 2023-03-31 07527221 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07527221 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 07527221







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


NEW FOREST SPRING WATER LIMITED






































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NEW FOREST SPRING WATER LIMITED
 


 
COMPANY INFORMATION


Directors
Kevin Cowell 
Simon Reed 




Registered number
07527221



Registered office
Spring House
Blind Lane

South Gorley

Hampshire

SP6 2PW




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


NEW FOREST SPRING WATER LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


NEW FOREST SPRING WATER LIMITED
REGISTERED NUMBER:07527221



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
67
84

Tangible assets
 5 
86,027
107,591

  
86,094
107,675

Current assets
  

Stocks
  
20,000
20,000

Debtors: amounts falling due within one year
 6 
29,670
50,853

Cash at bank and in hand
  
2,471
22,775

  
52,141
93,628

Creditors: amounts falling due within one year
 7 
(396,792)
(385,798)

Net current liabilities
  
 
 
(344,651)
 
 
(292,170)

Total assets less current liabilities
  
(258,557)
(184,495)

Creditors: amounts falling due after more than one year
 8 
(39,170)
(57,614)

  

Net liabilities
  
(297,727)
(242,109)

Page 1

 


NEW FOREST SPRING WATER LIMITED
REGISTERED NUMBER:07527221


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
197,412
197,412

Profit and loss account
  
(495,139)
(439,521)

  
(297,727)
(242,109)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Kevin Cowell
Director

Date: 7 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


NEW FOREST SPRING WATER LIMITED
 


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

1.


General information

New Forest Spring Water 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.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the company had negative reserves of £425,586 (2021: £402,864).
The company is dependent upon the support of its directors, creditors and bankers.  The directors believe that this support is forthcoming for the foreseeable future and therefore the accounts of the company have been prepared on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 


NEW FOREST SPRING WATER LIMITED
 


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

2.Accounting policies (continued)

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
20
% on reducing balance basis

Page 4

 


NEW FOREST SPRING WATER LIMITED
 


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

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
on reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial
Page 5

 


NEW FOREST SPRING WATER LIMITED
 


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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Page 6

 


NEW FOREST SPRING WATER LIMITED
 


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

2.Accounting policies (continued)


2.12
Financial instruments (continued)



3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
1,000



At 31 March 2023

1,000



Amortisation


At 1 April 2022
916


Charge for the year on owned assets
17



At 31 March 2023

933



Net book value



At 31 March 2023
67



At 31 March 2022
84



Page 7

 


NEW FOREST SPRING WATER LIMITED
 


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

5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
1,346
319,453
320,799



At 31 March 2023

1,346
319,453
320,799



Depreciation


At 1 April 2022
-
213,208
213,208


Charge for the year on owned assets
-
21,564
21,564



At 31 March 2023

-
234,772
234,772



Net book value



At 31 March 2023
1,346
84,681
86,027



At 31 March 2022
1,346
106,245
107,591


6.


Debtors

2023
2022
£
£


Trade debtors
23,802
42,861

Amounts owed by group undertakings
1,104
1,104

Other debtors
4,500
4,500

Prepayments and accrued income
264
2,388

29,670
50,853


Page 8

 


NEW FOREST SPRING WATER LIMITED
 


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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,890
6,767

Other loans
208,605
208,605

Trade creditors
33,433
23,255

Amounts owed to group undertakings
7,958
7,958

Other taxation and social security
9,780
11,032

Obligations under finance lease and hire purchase contracts
-
2,823

Other creditors
122,876
112,321

Accruals and deferred income
7,250
13,037

396,792
385,798



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,915
23,815

Net obligations under finance leases and hire purchase contracts
-
429

Other creditors
22,255
33,370

39,170
57,614


 
Page 9