14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,000 10,000 xbrli:pure xbrli:shares iso4217:GBP 04946115 2023-04-01 2024-03-31 04946115 2024-03-31 04946115 2023-03-31 04946115 2022-04-01 2023-03-31 04946115 2023-03-31 04946115 2022-03-31 04946115 core:NetGoodwill 2023-04-01 2024-03-31 04946115 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04946115 core:FurnitureFittings 2023-04-01 2024-03-31 04946115 core:MotorVehicles 2023-04-01 2024-03-31 04946115 bus:Director1 2023-04-01 2024-03-31 04946115 core:NetGoodwill 2024-03-31 04946115 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04946115 core:FurnitureFittings 2023-03-31 04946115 core:MotorVehicles 2023-03-31 04946115 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 04946115 core:FurnitureFittings 2024-03-31 04946115 core:MotorVehicles 2024-03-31 04946115 core:WithinOneYear 2024-03-31 04946115 core:WithinOneYear 2023-03-31 04946115 core:AfterOneYear 2024-03-31 04946115 core:AfterOneYear 2023-03-31 04946115 core:ShareCapital 2024-03-31 04946115 core:ShareCapital 2023-03-31 04946115 core:RetainedEarningsAccumulatedLosses 2024-03-31 04946115 core:RetainedEarningsAccumulatedLosses 2023-03-31 04946115 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04946115 core:FurnitureFittings 2023-03-31 04946115 core:MotorVehicles 2023-03-31 04946115 bus:SmallEntities 2023-04-01 2024-03-31 04946115 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04946115 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04946115 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04946115 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 04946115
ADEPT PURE WATER LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
ADEPT PURE WATER LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
69,767
52,053
CURRENT ASSETS
Stocks
184,729
164,339
Debtors
7
146,916
182,813
Cash at bank and in hand
176,318
136
---------
---------
507,963
347,288
CREDITORS: amounts falling due within one year
8
471,536
457,694
---------
---------
NET CURRENT ASSETS/(LIABILITIES)
36,427
( 110,406)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
106,194
( 58,353)
CREDITORS: amounts falling due after more than one year
9
342,889
299,993
---------
---------
NET LIABILITIES
( 236,695)
( 358,346)
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid.
2
2
Profit and loss account
( 236,697)
( 358,348)
---------
---------
SHAREHOLDERS DEFICIT
( 236,695)
( 358,346)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ADEPT PURE WATER LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Mrs R F Frosi
Director
Company registration number: 04946115
ADEPT PURE WATER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36 Huxley Close, Wellingborough, Northamptonshire, NN8 6AB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The company currently meets its daily working capital requirements through operating revenues, and financial support from the Directors and Creditors. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
20% straight line
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
10,000
--------
Amortisation
At 1 April 2023 and 31 March 2024
10,000
--------
Carrying amount
At 31 March 2024
--------
At 31 March 2023
--------
6. TANGIBLE ASSETS
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
76,918
121,144
34,401
232,463
Additions
1,392
67,898
69,290
Disposals
( 34,401)
( 34,401)
--------
---------
--------
---------
At 31 March 2024
76,918
122,536
67,898
267,352
--------
---------
--------
---------
Depreciation
At 1 April 2023
61,535
98,987
19,888
180,410
Charge for the year
15,383
4,706
16,974
37,063
Disposals
( 19,888)
( 19,888)
--------
---------
--------
---------
At 31 March 2024
76,918
103,693
16,974
197,585
--------
---------
--------
---------
Carrying amount
At 31 March 2024
18,843
50,924
69,767
--------
---------
--------
---------
At 31 March 2023
15,383
22,157
14,513
52,053
--------
---------
--------
---------
7. DEBTORS
2024
2023
£
£
Trade debtors
135,948
152,619
Other debtors
10,968
30,194
---------
---------
146,916
182,813
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,125
13,100
Trade creditors
214,705
222,854
Social security and other taxes
83,485
63,772
Other creditors
159,221
157,968
---------
---------
471,536
457,694
---------
---------
Included within other creditors are amounts totalling £7,115(2023 - £8,021) relating to hire purchase agreements which are secured by the company.
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Other creditors
342,889
299,993
---------
---------
Included within other creditors are amounts totalling £7,708. (2023 - £5,653) relating to hire purchase agreements which are secured by the company.
10. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The directors have advanced,long term, monies to the company. At 31 March 2024 the amount due from the company was £ 232,260 (2023 - £ 240,167 ). The loan is interest free and unsecured.
11. GOING CONCERN
The director has considered the period to 31 July 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy it's liabilities as these become payable.