Registration number:
Koster Aquatecnic Limited
for the Year Ended 31 December 2023
Koster Aquatecnic Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Koster Aquatecnic Limited
Company Information
Directors |
N S M Day B D Day A J Lynn |
Company secretary |
B D Day |
Registered office |
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Koster Aquatecnic Limited
(Registration number: 04117715)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Koster Aquatecnic Limited
(Registration number: 04117715)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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N S M Day
Director
Koster Aquatecnic Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Mount Sydney
Craigs Road
Dumfries
DG1 4EU
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in pounds sterling, which is the company’s functional currency, rounded to the nearest whole pound.
Revenue recognition
Turnover comprises 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.
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.
Government grants
The company recognises government grants in income when the conditions attached to a grant are met, and the company has reasonable assurance that the grant will be received. Where a government grant is unconditional then the company recognises the grant in income when it is receivable. If a government grant is received before the conditions attached to it are satisfied, the grant is recognised as a liability, and only released to income once the conditions are met.
Foreign currency transactions and balances
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Deferred taxation is calculated with reference to the tax rates expected to apply when the timing differences crystallise, based on current tax rates and law.
Koster Aquatecnic Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than freehold land, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold buildings and improvements |
2% straight line, per annum |
Equipment |
25% straight line, per annum |
Motor vehicles |
15% - 25% straight line, per annum |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Asset financing and operating leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the profit and loss account as incurred.
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.
Defined contribution pension obligation
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost. The company does not have any financial instruments which are not basic financial instruments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Koster Aquatecnic Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Freehold land, buildings and improvements |
Equipment |
Motor vehicles |
Total |
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Cost |
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At 1 January 2023 |
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Additions |
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Disposals |
- |
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- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Eliminated on disposal |
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- |
( |
At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Koster Aquatecnic Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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2023 |
2022 |
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After more than five years by instalments |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Security on loans and borrowings
Bank borrowings are secured by a fixed charge over the company's freehold land and buildings and fixed and floating charges over the company's assets and undertaking.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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40,000 |
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40,000 |
Related party transactions |
Transactions with directors |
Advances to directors and any debit balances on directors' loan accounts during the year ended 31 December 2022 were subject to interest at 2% per annum payable to the company. These advances and debit balances are unsecured and repayable on the company's demand.
Koster Aquatecnic Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
2022 |
At 1 January 2022 |
Advances to director |
Repayments by director |
At 31 December 2022 |
N S M Day |
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Loan |
- |
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( |
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