REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Bywater Services Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Bywater Services Limited |
Bywater Services Limited (Registered number: 03749948) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bywater Services Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
24 Picton House |
Hussar Court |
Waterlooville |
Hampshire |
PO7 7SQ |
Bywater Services Limited (Registered number: 03749948) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Bywater Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Accounts are rounded to the nearest pound. |
The accounts represent the company as an individual entity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts. |
Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements. |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. |
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Short | and |
property | leasehold | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
SME Lending Limited hold a fixed charge containing a negative pledge over the freehold property. |
Cost or valuation at 30 April 2024 is represented by: |
Fixtures |
Freehold | Short | and |
property | leasehold | fittings |
£ | £ | £ |
Valuation in 2023 | 108,351 | - | - |
Cost | 221,649 | 12,565 | 42,937 |
330,000 | 12,565 | 42,937 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2023 | - | - | 108,351 |
Cost | 142,599 | 7,365 | 427,115 |
142,599 | 7,365 | 535,466 |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued it would have been included at the following historical cost: |
30.4.24 | 30.4.23 |
£ | £ |
Cost | 221,648 | 221,648 |
Value of land in freehold land and buildings | 221,648 | 221,648 |
Freehold land and buildings were valued on an open market basis on 7 April 2023 by Ashmore Chartered Surveyors . |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
Additions |
At 30 April 2024 |
DEPRECIATION |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
5. | DEBTORS |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Hire purchase contracts (see note 8) |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.4.24 | 30.4.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
30.4.24 | 30.4.23 |
£ | £ |
Within one year |
Between one and five years |
Bywater Services Limited (Registered number: 03749948) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Hire purchase contracts | 120,611 | 43,938 |
SME Lending Limited | 1,028,000 | - |
Simon and Nicholas Bywater | 762,000 | - |
SME Lending Limited hold a floating charge containing a negative pledge over all property or undertaking of the business. |
Natwest Westminster Bank Plc holds a debenture over all assets of the company with no limited security. |
Simon Bywater and Nicholas Bywater hold a fixed and floating charge containing a negative pledge over all the property or undertaking of the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2023 |
and 30 April 2024 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
The controlling party is K Alibai. |