Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01truefalseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12348169 2023-01-01 2023-12-31 12348169 2022-01-01 2022-12-31 12348169 2023-12-31 12348169 2022-12-31 12348169 c:Director2 2023-01-01 2023-12-31 12348169 d:CurrentFinancialInstruments 2023-12-31 12348169 d:CurrentFinancialInstruments 2022-12-31 12348169 d:Non-currentFinancialInstruments 2023-12-31 12348169 d:Non-currentFinancialInstruments 2022-12-31 12348169 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12348169 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12348169 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12348169 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12348169 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12348169 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12348169 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12348169 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12348169 d:ShareCapital 2023-12-31 12348169 d:ShareCapital 2022-12-31 12348169 d:RetainedEarningsAccumulatedLosses 2023-12-31 12348169 d:RetainedEarningsAccumulatedLosses 2022-12-31 12348169 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12348169 c:OrdinaryShareClass1 2023-12-31 12348169 c:OrdinaryShareClass1 2022-12-31 12348169 c:FRS102 2023-01-01 2023-12-31 12348169 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12348169 c:FullAccounts 2023-01-01 2023-12-31 12348169 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12348169 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12348169










WATER SOURCE INTERNATIONAL LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
WATER SOURCE INTERNATIONAL LTD
REGISTERED NUMBER: 12348169

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1
1

Cash at bank and in hand
 5 
865
6,997

  
866
6,998

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(2,701)
(3,371)

Net current (liabilities)/assets
  
 
 
(1,835)
 
 
3,627

Total assets less current liabilities
  
(1,835)
3,627

Creditors: amounts falling due after more than one year
 7 
(869,592)
(864,331)

  

Net liabilities
  
(871,427)
(860,704)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(871,428)
(860,705)

  
(871,427)
(860,704)


Page 1

 
WATER SOURCE INTERNATIONAL LTD
REGISTERED NUMBER: 12348169

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 statement of comprehensive income 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: 




G C Wise
Director

Date: 21 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WATER SOURCE INTERNATIONAL LTD
 

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

1.


General information

Water Source International Ltd is a private Company, limited by shares and registered in England and Wales. The registered address is 2 Chawley Park, Cumnor Hill, Cumnor, Oxford, United Kingdom, OX2 9GG.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the financial statements on a going concern basis as financial support will be provided by the parent company for a period of 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 and presentational currency is GBP.

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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
WATER SOURCE INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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:

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

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.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

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.

 
2.8

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.

 
2.9

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 4

 
WATER SOURCE INTERNATIONAL LTD
 

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

2.Accounting policies (continued)

 
2.10

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
1
1



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
865
6,997



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
1
1

Accruals and deferred income
2,700
3,370

2,701
3,371



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
869,592
864,331


Page 5

 
WATER SOURCE INTERNATIONAL LTD
 

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

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Other loans
869,592
-

Amounts falling due 2-5 years

Other loans
-
864,331


869,592
864,331


The loan is unsecured and interest bearing at a fixed rate of 2.75% per annum. The loan is repayable on 30 June 2025.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



10.


Controlling party

The directors consider that the ultimate parent undertaking of the Company is Adidem Group PTY Ltd, which is a corporate trustee. Water Source International Ltd is 100% wholly owned by the parent Company.


Page 6