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REGISTERED NUMBER: 09890318 (England and Wales)



















OPTIONS WASTE WATER SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,573 20,766

CURRENT ASSETS
Debtors 5 138,256 105,345
Cash at bank 65,544 60,987
203,800 166,332
CREDITORS
Amounts falling due within one year 6 100,748 85,933
NET CURRENT ASSETS 103,052 80,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,625

101,165

CREDITORS
Amounts falling due after more than one year 7 (73,282 ) (43,449 )

PROVISIONS FOR LIABILITIES (16,639 ) (3,946 )
NET ASSETS 100,704 53,770

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 100,698 53,764
SHAREHOLDERS' FUNDS 100,704 53,770

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by:





Mr M C Payne - Director


OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Options Waste Water Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09890318

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and straight line over 3 years

OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 34,261
Additions 82,619
At 30 November 2023 116,880
DEPRECIATION
At 1 December 2022 13,495
Charge for year 15,812
At 30 November 2023 29,307
NET BOOK VALUE
At 30 November 2023 87,573
At 30 November 2022 20,766

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022 24,325
Additions 71,183
At 30 November 2023 95,508
DEPRECIATION
At 1 December 2022 6,462
Charge for year 13,088
At 30 November 2023 19,550
NET BOOK VALUE
At 30 November 2023 75,958
At 30 November 2022 17,863

OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 99,383 92,857
Other debtors 38,873 12,488
138,256 105,345

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 25,911 3,864
Trade creditors 27,771 23,287
Taxation and social security 26,776 24,428
Other creditors 10,290 24,354
100,748 85,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,836 30,836
Hire purchase contracts 52,446 12,613
73,282 43,449

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr M C Payne and Mr T M Payne
Balance outstanding at start of year 9,176 6,868
Amounts advanced 106,961 93,010
Amounts repaid (115,638 ) (90,702 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 499 9,176

OPTIONS WASTE WATER SOLUTIONS LIMITED (REGISTERED NUMBER: 09890318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. RELATED PARTY DISCLOSURES

During the year, the company paid related party costs of £17,500 (2022 - £26,650) for consultancy fees.

During the year, the company recharged £49,850 in subcontractor costs and purchases to related party.

The amount owed by the related party at the balance sheet date is included in debtors as follows:

2023 2022
£ £
Nature of relationship
Business with common ownership and control 30,491 (19,359 )


During the year dividends of £74,650 (2022 - £56,600) were paid to the directors and dividends of £23,500 (2022 - £15,250) were paid to close family members of the directors.