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REGISTERED NUMBER: 03749948 (England and Wales)















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: K Alibai
Myka Holdings Ltd





REGISTERED OFFICE: Unit 7 Telford Way
Stephenson Industrial Estate
Coalville
Leicestershire
LE67 3HE





REGISTERED NUMBER: 03749948 (England and Wales)





AUDITORS: JWR Audit Limited
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 4 460,359 401,627

CURRENT ASSETS
Stocks 374,274 410,377
Debtors 5 3,175,650 436,101
Cash at bank and in hand 895,505 1,196,512
4,445,429 2,042,990
CREDITORS
Amounts falling due within one year 6 1,414,122 540,780
NET CURRENT ASSETS 3,031,307 1,502,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,491,666

1,903,837

CREDITORS
Amounts falling due after more than one
year

7

(1,256,782

)

(31,335

)

PROVISIONS FOR LIABILITIES (32,497 ) (10,135 )
NET ASSETS 2,202,387 1,862,367

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 99,341 99,341
Retained earnings 2,103,044 1,763,024
SHAREHOLDERS' FUNDS 2,202,387 1,862,367

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





K Alibai - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
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 as modified by the revaluation of certain assets.

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
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.
Short leasehold - 10% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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 22 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST OR VALUATION
At 1 May 2023 330,000 12,565 41,797
Additions - - 1,140
Disposals - - -
At 30 April 2024 330,000 12,565 42,937
DEPRECIATION
At 1 May 2023 - 3,097 38,586
Charge for year - 1,257 1,958
Eliminated on disposal - - -
At 30 April 2024 - 4,354 40,544
NET BOOK VALUE
At 30 April 2024 330,000 8,211 2,393
At 30 April 2023 330,000 9,468 3,211

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 95,438 580 480,380
Additions 139,600 6,785 147,525
Disposals (92,439 ) - (92,439 )
At 30 April 2024 142,599 7,365 535,466
DEPRECIATION
At 1 May 2023 36,954 116 78,753
Charge for year 39,532 918 43,665
Eliminated on disposal (47,311 ) - (47,311 )
At 30 April 2024 29,175 1,034 75,107
NET BOOK VALUE
At 30 April 2024 113,424 6,331 460,359
At 30 April 2023 58,484 464 401,627

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 139,600
At 30 April 2024 139,600
DEPRECIATION
Charge for year 26,175
At 30 April 2024 26,175
NET BOOK VALUE
At 30 April 2024 113,425

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 738,692 424,662
Other debtors 8,527 11,439
747,219 436,101

Amounts falling due after more than one year:
Amounts owed by group undertakings 2,428,431 -

Aggregate amounts 3,175,650 436,101

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) 16,610 12,603
Trade creditors 345,908 269,270
Taxation and social security 240,171 174,410
Other creditors 811,433 84,497
1,414,122 540,780

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 104,001 31,335
Other creditors 1,152,781 -
1,256,782 31,335

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 16,610 12,603
Between one and five years 104,001 31,335
120,611 43,938

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 67,270 36,659
Between one and five years 56,662 38,705
123,932 75,364

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 -
1,910,611 43,938

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: £    £   
2 Ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 99,341

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kate Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

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.