Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31trueManufacture of water treatment devicesfalse2022-11-015650trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03114221 2022-11-01 2023-10-31 03114221 2021-11-01 2022-10-31 03114221 2023-10-31 03114221 2022-10-31 03114221 2021-11-01 03114221 c:Director4 2022-11-01 2023-10-31 03114221 d:Buildings 2022-11-01 2023-10-31 03114221 d:PlantMachinery 2022-11-01 2023-10-31 03114221 d:PlantMachinery 2023-10-31 03114221 d:PlantMachinery 2022-10-31 03114221 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:MotorVehicles 2022-11-01 2023-10-31 03114221 d:MotorVehicles 2023-10-31 03114221 d:MotorVehicles 2022-10-31 03114221 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:FurnitureFittings 2022-11-01 2023-10-31 03114221 d:FurnitureFittings 2023-10-31 03114221 d:FurnitureFittings 2022-10-31 03114221 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:OfficeEquipment 2022-11-01 2023-10-31 03114221 d:OfficeEquipment 2023-10-31 03114221 d:OfficeEquipment 2022-10-31 03114221 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 03114221 d:OtherPropertyPlantEquipment 2023-10-31 03114221 d:OtherPropertyPlantEquipment 2022-10-31 03114221 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03114221 d:CurrentFinancialInstruments 2023-10-31 03114221 d:CurrentFinancialInstruments 2022-10-31 03114221 d:Non-currentFinancialInstruments 2023-10-31 03114221 d:Non-currentFinancialInstruments 2022-10-31 03114221 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 03114221 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 03114221 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 03114221 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 03114221 d:ShareCapital 2022-11-01 2023-10-31 03114221 d:ShareCapital 2023-10-31 03114221 d:ShareCapital 2021-11-01 2022-10-31 03114221 d:ShareCapital 2022-10-31 03114221 d:ShareCapital 2021-11-01 03114221 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 03114221 d:RetainedEarningsAccumulatedLosses 2023-10-31 03114221 d:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 03114221 d:RetainedEarningsAccumulatedLosses 2022-10-31 03114221 d:RetainedEarningsAccumulatedLosses 2021-11-01 03114221 c:OrdinaryShareClass1 2022-11-01 2023-10-31 03114221 c:OrdinaryShareClass1 2023-10-31 03114221 c:OrdinaryShareClass1 2022-10-31 03114221 c:FRS102 2022-11-01 2023-10-31 03114221 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 03114221 c:FullAccounts 2022-11-01 2023-10-31 03114221 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03114221 d:WithinOneYear 2023-10-31 03114221 d:WithinOneYear 2022-10-31 03114221 d:BetweenOneFiveYears 2023-10-31 03114221 d:BetweenOneFiveYears 2022-10-31 03114221 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 03114221 d:HirePurchaseContracts d:WithinOneYear 2022-10-31 03114221 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 03114221 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-10-31 03114221 d:HirePurchaseContracts d:MoreThanFiveYears 2023-10-31 03114221 d:HirePurchaseContracts d:MoreThanFiveYears 2022-10-31 03114221 2 2022-11-01 2023-10-31 03114221 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 03114221 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03114221










EUROPEAN WATER CARE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
EUROPEAN WATER CARE LIMITED
REGISTERED NUMBER: 03114221

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
426,929
509,891

Current assets
  

Stocks
 5 
769,649
750,450

Debtors: amounts falling due within one year
 6 
2,108,951
1,757,333

Cash at bank and in hand
  
692,640
506,720

  
3,571,240
3,014,503

Creditors: amounts falling due within one year
 7 
(3,916,038)
(3,806,882)

Net current liabilities
  
 
 
(344,798)
 
 
(792,379)

Total assets less current liabilities
  
82,131
(282,488)

Creditors: amounts falling due after more than one year
 8 
(1,064)
(8,812)

Provisions for liabilities
  

Deferred tax
 10 
(106,490)
(118,181)

Other provisions
  
(184,689)
(184,689)

  
 
 
(291,179)
 
 
(302,870)

Net liabilities
  
(210,112)
(594,170)


Capital and reserves
  

Called up share capital 
 11 
200
200

Profit and loss account
  
(210,312)
(594,370)

  
(210,112)
(594,170)


Page 1

 
EUROPEAN WATER CARE LIMITED
REGISTERED NUMBER: 03114221
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

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 profit and loss account 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: 




A T Slark
Director

Date: 24 July 2024

The notes on pages 4 to 14 form part of these financial statements.

Page 2

 
EUROPEAN WATER CARE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 November 2021
200
(665,420)
(665,220)


Comprehensive income for the year

Profit for the year
-
71,050
71,050
Total comprehensive income for the year
-
71,050
71,050



At 1 November 2022
200
(594,370)
(594,170)


Comprehensive income for the year

Profit for the year
-
384,058
384,058
Total comprehensive income for the year
-
384,058
384,058


At 31 October 2023
200
(210,312)
(210,112)


The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

European Watercare Limited is a private company limited by shares incorporated in the United Kingdom. The address of the registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The nature of the company's operations and principal activity of the company during the year was the manufacture and servicing of water treatment devices. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company has net current liabilities of £344,798 at the balance sheet date. The going concern basis is considered by the directors to be appropriate due to the confirmation of willingness and ability of ongoing financial support provided by group companies for at least 12 months from the date of approval of the financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional currency and presentational currency is GBP, rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 November 2020 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Page 5

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

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 Profit and loss account in the same period as the related expenditure.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.12

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.14

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.

Page 7

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.14
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance method.

Depreciation is provided on the following basis:

Property improvements
-
2%
Straight line
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance
Freehold property improvements
-
25%
Reducing balance

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.

 
2.15

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 balance sheet 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.

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.20

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
56
50

Page 9

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Property improvements
Total

£
£
£
£
£
£



Cost or valuation


At 1 November 2022
740,729
170,044
187,794
294,530
729,777
2,122,874


Additions
-
-
3,637
5,575
-
9,212


Disposals
(116,812)
(66,965)
(32,579)
(82,986)
-
(299,342)



At 31 October 2023

623,917
103,079
158,852
217,119
729,777
1,832,744



Depreciation


At 1 November 2022
604,762
135,255
172,636
244,457
455,873
1,612,983


Charge for the year on owned assets
32,799
7,828
4,489
14,459
14,645
74,220


Disposals
(107,439)
(62,874)
(32,297)
(78,778)
-
(281,388)



At 31 October 2023

530,122
80,209
144,828
180,138
470,518
1,405,815



Net book value



At 31 October 2023
93,795
22,870
14,024
36,981
259,259
426,929



At 31 October 2022
135,967
34,789
15,158
50,073
273,904
509,891


5.


Stocks

2023
2022
£
£

Raw materials and consumables
769,649
750,450


Page 10

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,024,020
818,811

Amounts owed by group undertakings
754,056
916,915

Other debtors
323,160
7,678

Prepayments and accrued income
7,715
13,929

2,108,951
1,757,333



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Debenture loans
186,667
256,667

Trade creditors
501,348
340,426

Amounts owed to group undertakings
2,855,002
2,869,730

Other taxation and social security
185,519
152,241

Obligations under finance lease and hire purchase contracts
7,748
8,855

Other creditors
179,754
178,963

3,916,038
3,806,882


Net obligations under hire purchase contracts of £7,748 (2022: £8,855) are secured on the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
1,064
8,812


Net obligations under hire purchase contacts of £1,064 (2022: £8,812) are secured on the assets to which they relate.

Page 11

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
19,178
23,504

Between 1-5 years
5,507
23,504

Between 2-5 years
-
16,308

24,685
63,316

Net minimum lease payments under hire purchase totalling £24,685 (2022: £63,316), include interest payments of £Nil (2022: £Nil).


10.


Deferred taxation




2023


£






At beginning of year
(118,181)


Charged to profit or loss
11,691



At end of year
(106,490)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(106,490)
(118,181)

Page 12

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £1.00 each
200
200



12.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable to the company to the fund and amounted to £36,618 (2022: £26,804). Contributions totalling £6,160 (2022: £1,710) were payable from the fund at the balance sheet date.


13.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
808
4,845

Later than 1 year and not later than 5 years
-
808

808
5,653


14.


Related party transactions

During the year, European Water Care Limited paid expenses of £40,285 (2022: £4,000) on behalf of Manfreuder Moulding LLP, a Limited Liability Partnership of which the company is a designated member. The profit share received by the company from the LLP amounted to £1 (2022: £1). At the year end the balance due from Manfreuder Moulding LLP was £234,751 (2022: £194,466), after repayments, included in trade debtors.
European Water Care Limited is a designated member of European Spraydry Technologies LLP. At the year-end, European Spraydry Technologies LLP was owed by European Watercare £279 (2022: £279), which is included in amounts owed to group undertakings.
European Water Care Limited is a designated member of European Spraydry LLP. At the year-end, the company owed European Spraydry LLP £1,012 (2022: £1,012), included in amounts owed to group undertakings.
During the year, the Company received net amounts of £132,872 (2022: £nil) and billed for gross management charges and other expense recharges totalling £140,951 (2022: £122,000) to ESDT Operations Ltd, a company in which C V Free and S J Slark are common directors. At year end, the company was owed £459,967 (2022: £451,888) in respect of these transactions and this amount is included in amounts owed by group undertakings.

Page 13

 
EUROPEAN WATER CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

15.


Ultimate parent company

The company's ultimate parent company is EWC Group Limited, a company registered in England and Wales. The address of the registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

 
Page 14